Summary
Payment Protection Insurance
Missed payments
Further information
| SUMMARY BOX Key Information for our personal loan from £7,500 to £14,999 | ||||
|---|---|---|---|---|
| APR |
Typical 8.9% APR | |||
| Interest rate ranges | Loan size range £7,500 - £14,999 |
From (%) 8.9 |
To (%) 8.9 |
Representative APR (%) 8.9 |
| Interest charging information | Type of interest on my loan? |
Fixed rate | ||
| Basis of interest calculation? |
Daily in arrears | |||
| Repayment information | What is the method and frequency of repayment? |
Monthly by Direct Debit | ||
| When is my first monthly payment due? |
1 month after loan issue | |||
| Can I take a payment holiday? |
No | |||
| Can I defer the payments at the start of my loan? |
No | |||
| Repayment period |
Loans are available between 1 and 7 years | |||
| Amount of loan available |
Loans are available from £1,000 to £25,000 in £50 multiples | |||
| Application / Arrangement fee |
None | |||
| Other fees |
None | |||
| Default fees |
None | |||
| Early settlement |
28 days interest for new loans of 12 months. 58 days interest for new loans of more than 12 months | |||
| Illustrative example | ||||
| Loan Amount | Representative APR | Term | Monthly Repayment | Total payable |
| £7,500 |
8.9% |
36 months |
£236.95 |
£8,530.20 |
| £10,000 |
8.9% |
60 months |
£205.44 |
£12,326.40 |
| £14,950 |
8.9% |
60 months |
£307.13 |
£18.427.80 |
Payment Protection Insurance: (PPI)
When taking out a personal loan you should consider your ability to maintain the monthly repayments. Nationwide does not currently sell payment protection insurance online. If you would like to consider taking out our optional payment protection insurance, called LoanCare, you will need to apply for your loan in branch or over the phone - 0800 30 20 10. LoanCare is underwritten by Aviva Insurance Limited and Norwich Union Life & Pensions Limited.
You can find useful information about payment protection insurance on the internet including information from the Financial Services Authority website.
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Missed payments
Missing payments could have severe consequences and make obtaining credit more difficult. If you have fallen behind with your payments we may pass information about what you owe us to a credit reference agency.
Credit reference agencies record this information for 6 years. This information may be seen by other companies when you apply for a loan or credit card, and this may affect your ability to obtain credit in the future.
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Further information
If you are experiencing difficulties in managing your finances talk to your lender and/or your Citizens Advice Bureau or National Debtline.
All loans are subject to status and are available to those aged 18 or over only. Provision of these credit facilities does not confer membership rights in Nationwide Building Society. Nationwide Personal Loans cannot be used for business purposes or for speculative reasons.
Nationwide Trust Limited is a wholly owned subsidiary and appointed representative of Nationwide Building Society. Nationwide Trust Limited, registered in England, No. 01060355. Registered office: Nationwide House, 20 Lower Dagnall Street, St Albans, Herts AL3 4RR.
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