Nationwide Slashes Personal Loan Rates

The Nationwide Building Society recently announced that it reduces rates on personal loans down to 7.6% APR. This move made the lender's personal loan offer the most attractive in the United Kingdom. The rate only applies to FlexAccount members who need a loan of £7,500 - £14,999 for 5 years max. The rate is available for loans taken out via the Internet, over the phone or through the bank's branch.

Today, on September 8th, the lender will also launch a new offer for customers who do not have a current account with the Nationwide. It will feature a typical APR of 7.7% on loans of £7,000 - £14,999, applied for via Moneysupermarket.

Commenting on the new offer, Mr. Pilkington, divisional director for banking at Nationwide, said that the bank is delighted to introduce the lowest rate on personal loan on the UK market at a time when the number of loan applications traditionally increases. He is determined that personal loans are an ideal way to fund the purchase of a new car, furniture and other items.