Nationwide offers personal loans rates of 7.7%

With effect from Thursday 6 August 2009, Nationwide will be reducing its personal loan rate to offer a marketing 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.

Chris Rhodes, product and marketing director, said: "Nationwide continues to be competitive in the personal loan market with the introduction of this market leading headline rate of 7.7% typical APR, beating what's being offered by supermarkets and high street banks.

"This great rate is now available for loans between £5,000 and £14,999, so whatever the purpose of your loan whether it be for a new car, to pay for a wedding, carry out home improvements or consolidate other debts, our rate is hard to beat!

"We are rewarding our current account customers with the lowest personal loan rate in the UK which underlines further the benefits of taking out and using a Nationwide FlexAccount. This will be the first of many offers for Nationwide current account customers over the coming months."

For more information, visit nationwide.co.uk.