24 April 2019

Nationwide announce new loan rates

We’ve reduced our loan rate to a competitive 3.6% APR representative for loans of between £5,000 - £7,500.

This new loan rate is available if you have a main current account, savings or mortgage with us. You can apply for the loan online, in branch or on the phone and receive your money the same day. Also, unlike many other providers, we won’t apply an early settlement charge if you want to repay the loan early.

If you’re looking to borrow a smaller amount, we have also reduced our rate on loans of between £3,000 and £4,999 to a competitive 9.8% APR representative.

Our representative rates for other loan amounts have all stayed the same.

If we can offer you a personal loan, you’ll be given a personalised rate when you get a quote. This will be based on our view of your circumstances and the amount you want to borrow.

The new rates are:

Loan Amount Rates for main current account, mortgage and savings members
£7,500 to £25,000 3.0% APR
£5,000 to £7,499 3.6% APR
£3,000 to £4,999 9.8% APR
£1,000 to £2,999 13.9% APR

Louise Prior, Head of Unsecured Lending at Nationwide Building Society, said:

“Whether you’re looking to fund home improvements, a new car or consolidate existing debts, our new loan rates are amongst the most competitive on the market and exclusively for our members. Many of whom will go on to repay their loan early and we don’t think they should be penalised for this, so unlike many of our competitors we don’t apply an early settlement charge if they do.”

See how much you could borrow

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