On 15 January 2024, we changed how you apply and qualify for our personal loans. This means the way you borrow more is different. If you already had a loan with us and want to borrow more, visit our support page to learn more.

More about changes to personal loans

Your options for borrowing more

When you get a quote for borrowing more, we’ll give you some options to choose from. We’ll base your quote on:

  • the amount left to pay from your existing loan
  • how much more you want to borrow, and
  • how long you want to pay back your loan.

Option 1: Combine your loans

You can get a new loan that pays off your current loan and gives you the extra money you need. You'll then have one, larger loan with a new interest rate and new monthly repayments.

Option 2: Keep your loans separate

You can take out a second loan. This means you'll have a separate loan alongside your existing one. You'll repay the loans separately, which means you'll have 2 monthly repayments to budget for. Your existing loan will remain under its original terms and interest rate.

You can have up to 2 Nationwide loans at once.

To apply for a loan

You need to:

  • have a Nationwide current account
  • have the right to live and work in the UK for the term of the loan. We don't accept applications from the Channel Islands and the Isle of Man
  • be between 18 and 79
  • only have 1 existing Nationwide loan
  • not have missed 3 or more credit commitments in the last 12 months
  • neither be bankrupt nor have any CCJs, Individual Voluntary Arrangements or similar
  • have a monthly income of at least £700 after tax. If you're self-employed, you'll need to be able to prove a minimum of 1 year's income through an accountant's certificate, SA302 form or HMRC online tax calculation.

What's the best borrowing option for you?

Sometimes a lower monthly repayment can mean a higher overall cost of borrowing. This is because you may have to pay more interest over the term of the loan. It's important you take this into account when deciding which option is right for you. We offer personal loans for terms from 12 months up to 7 years. You’ll need to enter the term in months when you apply.

Before you apply for a loan, think carefully about what you can afford to pay back each month. You will not be able to change the loan amount or term during the application.

Representative example

6.4% APR Representative (fixed). Based on an assumed loan amount of £10,000 over 60 months at an interest rate of 6.4% p.a (fixed). Monthly repayment £194.35. Total amount repayable £11,661.00.

This representative APR applies to loans of £7,500 to £25,000 over 1 to 5 years for our members with a current account. You could be offered a different rate based on your personal circumstances. The maximum you could receive is 29.9%.

Related links

Other ways to borrow

A loan might not always be the right way to borrow the money you need. There might be a more suitable option for your financial situation.

Nationwide adheres to The Standards of Lending Practice, which are monitored and enforced by the LSB: (opens in a new window)