Nationwide loans lead
Filed under: News — Tags: loans, personal loan, secured loans —
The Nationwide Building Society has decided to take the lead on loan rates.
From the press release: http://www.nationwide.co.uk/mediacentre/PressRelease_this.asp?ID=1438
With effect from Thursday 6 August 2009, Nationwide will be reducing its personal loans rate to offer a market leading rate of 7.7% typical APR for loans of between £5,000 and £14,999* for its current account customers.
With this typical rate, Nationwide becomes the lender with the lowest personal loan rate in the UK, beating the supermarkets and all the high street banks** – the same low rate applies whether the loan is taken out through branch, telephone or internet.
A couple of limits, though:
- * For loans of £5,000 to £14,999 for up to five years for FlexAccount customers – they must have a monthly credit turnover of at least £750 (excludes internal transfers) for the last three consecutive months. Offer applies to new Nationwide Personal Loan customers only.
- The rate offered will depend on the amount borrowed and the customer’s individual circumstances. Other loan amounts are available.
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