Nationwide offers UK's lowest personal loan rate

From tomorrow, Tuesday 7 June, Nationwide Building Society will be offering the UK's lowest personal loan rate.  The new rate, which has been cut by 0.30%, is available for a limited time only (until Tuesday 5 July) and is open to both new customers and for new loans to existing customers.

Nationwide FlexAccount customers who use it as their main current account could benefit from a competitive rate of 6.7% APR Representative.  This new rate is applicable for loans of up to five years between £7,500 and £14,999 taken out through a branch, over the telephone or via the Internet.  This is the lowest rate offered by Nationwide since March 2007.

Those who do not have Nationwide's FlexAccount will still be able to take advantage of a competitive rate of 6.8% APR Representative, which is only 0.1% above Nationwide's headline rate.  This offer is available if customers apply through an online aggregator for loans between £7,500 and £14,999 for a term of up to five years.

Graham Pilkington, Nationwide's director of banking, said:  "With Nationwide's loan rate at its lowest for four years, this could enable consumers to make that big purchase more affordable and manageable with less pressure to their household budget.  This new loan rate reinforces the Society's commitment to its loyal FlexAccount holders and is just one of a wide range of benefits our current account offers hard working consumers.  But, even if you don't have a FlexAccount, customers can still benefit from a very competitive rate that is only 0.1% above our headline rate."