Nationwide market-leading loan available to more people

From 7 September 2010, more FlexAccount customers will be able to apply in branches for Nationwide's market-leading personal loan rate of 7.7% APR typical.  This coincides with the release of the new car registration plates in September, which is likely to increase the number of personal loan applications in this time period.

New FlexAccount customers, and existing customers who have not used their FlexAccount as their main current account, will be eligible to apply in branch for the market-leading loan rate, if they transfer their main current account to Nationwide.

Existing main FlexAccount holders continue to be eligible for this rate and can apply over the telephone (0800 30 20 10) and via the Internet (nationwide.co.uk/loans).  This rate is available for loans of up to five years between £7,500 and £14,999.

Personal loans can be cheaper than car dealer deals

The finance packages offered by some dealers may look appealing - especially if there is a 0% deal - but a personal loan could be the cheapest option for new car buyers.  It is important to understand the full terms and conditions; for example, a special offer of 0% finance for the first year that then moves onto a higher rate for the rest of the term of the loan may well prove more expensive in the long run.

Chris Rhodes, product and marketing director, said: "September is a busy time for personal loan applications, probably because of the new car registrations.  So if you're thinking of making your dream purchase but you're unsure on how best to finance it, consider a Nationwide personal loan.  Our main current account customers won't find a lower rate anywhere else in the UK and opening a FlexAccount is easy."

Other loan amounts between £1,000 and £25,000 are available with repayment terms between one and seven years.  These are available at a personalised rate for both new and existing Nationwide customers, whether or not they have a FlexAccount.