Derbyshire offers market leading personal loan

14 March 2012

With effect from 14 March 2012, Derbyshire Building Society, part of the Nationwide Group, is offering a personal loan with a market-leading rate of 6.0% APR Representative for loans of between £7,500 and £14,999.

Customers can borrow between £5,000 and £20,000 for a term of up to five years with highly competitive rates across all available tiers.

This new loan is available to customers applying through online aggregators, such as Moneysupermarket.

Many households have seen their finances stretched and are prepared to shop around in order to get the best rate possible.

Paul Wootton, Head of Personal Loans, said: “Economic conditions remain tough and customers looking for a personal loan are heading online to find the best deal. Derbyshire is committed to helping customers in this tough time, with the lowest loan rate on the market.

“Whatever your need for a personal loan, whether it’s to consolidate debts, buy a new car or pay for a wedding, the new Derbyshire loan is certainly one to consider.”

Derbyshire loan: how it compares

Provider APR Representative Amount Term Available via
Derbyshire Building Society 6.0% £7,500 - £14,999 1-5 years Online (aggregators only)
M&S Money1 6.0% £7,500- £15,000 1-5 years Online
Tesco Bank – new customers 6.1% £7,500-£14,999 1-10 years Online
Sainsbury’s Finance standard medium loan2 6.1% £7,500-£15,000 1-5 years Online
first direct3 6.1% £7,000- £15,000 1-7 years Online
HSBC4 6.2% £7,000- £15,000 1-5 years Branch
Nationwide (main FlexAccount)5 6.3% £7,500-£14,999 1-5 years Branch
Nationwide (new customers) 6.8% £7,500-£14,999 1-5 years Online
Sainsbury’s Finance shopper reward loan6 6.9% £7,500-£15,000 1-5 years Online
Santander 6.9% £7,500- £10,000 1-5 years Branch
Halifax7 8.8% £7,000- £15,000 1-7 years Branch
NatWest8 8.9% £7,500- £14,950 1-5 years Branch

Rates correct as of 13 March 2012. Sourced from competitor websites.

Notes to editors:

1 To apply for an M&S Money Personal Loan you have to be a UK resident aged 30 or over or a homeowner.

2 Online offer rate of 6.1% APR Representative, for Sainsbury's shoppers with a Nectar card which has been swiped instore or used online with Sainsbury's in the last six months. Sainsbury’s may check your Nectar account to verify this. Different rates will apply to telephone applications. This rate can be 6.0% if customers choose to pay over one to three years.

3 The loan is only available to first direct 1st Account customers.

4 HSBC Personal Loans are only available to existing HSBC current account customers.

5 For Nationwide’s personal loan offer: a main current account is defined as a FlexAccount with a Visa debit card (excluding Cash Card+) with deposits of £750 or more per month (excluding internal transfers) for the last three months;
where the holder(s) agrees to complete an account transfer from another account (non Nationwide) in branch or over the phone by using our Account Transfer Service and is eligible for an overdraft.
For loans outside of this range, personalised rates apply.

6 Includes £100 Sainsbury’s gift card and double Nectar points for two years. Offer only available to Sainsbury’s shoppers with a Nectar card which has been swiped instore in the last six months. This rate can be 6.8% if customers choose to pay over one to three years.

7 Only existing Halifax customers can apply.

8 Only available to existing NatWest current account holders.

Derbyshire Personal Loan

  • The interest rate offered will depend on the customer’s individual circumstances.
  • One fixed rate for the term of the loan – repayments never change.
  • No upfront charges or arrangement fees.
  • No repayments for the first month.
  • All loans are subject to status and are available to those aged 18 or over only.
  • Applications are required for all products. Further details of terms and conditions are available on request.
Loan amount Representative APR
£5,000 to £7,499 7.8%
£7,500 to £14,999 6.0%
£15,000 to £20,000 7.8%

If you accept your quote, we will leave a record of our check on your credit file that other lenders can see. This is a normal part of many credit application processes but it might affect your ability to obtain credit elsewhere for a short period of time.

Nationwide Building Society subscribes to the Lending Code.

Customers should consider all borrowing options carefully and seek independent advice.

Nationwide Building Society is authorised and regulated by the Financial Services Authority under registration number 106078. Credit facilities other than regulated mortgages are not regulated by the Financial Services Authority. You can confirm our registration on the FSA’s website, or by contacting the FSA on 0845 606 1234.

The Derbyshire Building Society is a Trading Division of Nationwide Building Society.

Please note: If you are a customer looking for information on our products and services, please visit the main website.