Derbyshire reduces loan rate to market-leading 5.5%

The Derbyshire Building Society, part of the Nationwide Group, is reducing its personal loan rate to a market-leading 5.5% APR Representative.

This new rate is available to customers applying online at thederbyshire.co.uk/ or through comparison websites, such as Moneysupermarket. It is available for loans of between £7,500 and £14,999 for a term of up to five years.

Paul Wootton, Nationwide's head of personal loans, said: "People often want to make a big purchase, such as the dream car or home extension, but they may not have the necessary funds to hand.  In those cases a personal loan may be the best option available, but it's important that people don't pay more than they need to. 

"In recent months the personal loan market has been a hive of activity and rates have dropped to an all time low. At 5.5% APR Representative, the Derbyshire personal loan once again offers the lowest rate on the market, and is certainly one to consider."