Nationwide offers personal loan rate of 7.9%

Nationwide has introduced a new personal loan rate of 7.9% APR typical for loans of up to five years between £7,500 and £14,999 for its current account customers.

Nationwide has been offering a special low market leading personal loan rate exclusively for its current account customers for the past two months.  While this special offer period ended on Monday 15 March 2010, Nationwide will continue to reward its current account customers by offering a rate of 7.9% APR typical.  This continues to be the lowest rate in the UK and beats the rates set by many other high street personal loan providers by offering a sub 8% rate.  The same low rate applies whether the loan is taken out through a branch, telephone or the Internet.

Chris Rhodes, product and marketing director, said: "The final stage of the Government's Car Scrappage Scheme is due to end on 31 March 2010.  This means that our rate of 7.9% APR typical available for loans between £7,500 and £14,999 may be perfect for people looking to get their hands on their dream car before the scheme comes to an end.

"No supermarket or lender on the high street can beat our highly competitive rate, which further reaffirms the benefits of Nationwide's FlexAccount."

Other loan amounts between £1,000 and £25,000 are available with repayment terms between one and seven years.  These are available for both new and existing Nationwide customers.