17 March 2016

A helpful guide to financing your goals

Whether you are getting married or making home improvements our video will help you understand the ways in which you can finance your plans.

We look at some of the common reasons for borrowing money and explain the main differences between borrowing on a credit card or through a personal loan as well as giving information on Nationwide’s current Personal Loan offer. If you would like more information or want to apply then visit our Personal Loan section.

How a Personal Loan could help you finance your goals

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There are times when we all need a little bit extra.

You might be planning your wedding, upgrading the kitchen, looking for a new car, or you may simply want to consolidate your debt.

Knowing where to turn for help can be difficult.

You may have savings, but prefer to keep them in the bank for another day.

You may be thinking about paying for these types of purchases with a low interest rate credit card, which could work fine, so long as you remember when the higher interest rate kicks in.

For larger purchases, a personal loan may be more affordable.

You can arrange to pay it back over a longer period and, if the interest rate is fixed, you’ll always know how much you will pay each month.

Plus you could make overpayments at no additional fee, which will help reduce your interest.

Repayments are spread over a set number of months and your interest is fixed at an agreed rate, so there are no financial surprises down the line.

One option could be a Nationwide personal loan.

And the good news is, if you’re an existing main current account customer with us, you’ll pay at least 1% APR less for the same loan than any of our other customers. Just so long as you qualify, of course. Rates start from 3.4% APR representative (fixed) on loans of £7,500 - £14,999 for 1-5 years.

Before signing on the dotted line it’s also worth checking a quick representative example too. Like this one.

Representative example

3.4% APR Representative (fixed). Based on an assumed loan amount of £10,000 over 60 months at an interest rate of 3.4% p.a. (fixed). Monthly repayment £181.24. Total amount payable £10,874.40.

And with our Loyalty Price Promise (available in branch or by phone), we’ll also beat any like-for-like UK loan provider offer by 0.5% APR, which means you won’t find a better loan rate anywhere else. Terms and Conditions apply*

Terms and conditions

  • You can make a claim in branch or by telephone and must be a main current account customer offered a nationwide loan in the last 28 days and have not yet signed a loan agreement
  • You must have a written offer for an unsecured fixed rate personal loan with another lender that is in your name(s), made within the last 30 days, for the same amount, duration and number of fixed payments with an APR available to the general public. Loans including arrangement fees, the option of additional lending or loans for study, commercial or business purposes, hire purchase and personal contract plans will not be accepted
  • If your claim is accepted you will be offered a loan with an APR that is 0.5% lower than the rate offered by the other lender
  • We reserve the right to withdraw the Loyalty Price Promise at any time, without notice

Find out more about our range of Personal Loans.

All loans are subject to status and are available to UK residents aged 18 to 79. The interest rate offered will depend on the amount you wish to borrow and your individual circumstances. Nationwide subscribes to the Lending Code.

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