Nationwide launches new 7.7% APR typical loan

Nationwide has announced the launch of a new personal loan product with a typical APR 7.7%.

From today, this new personal loan rate will be available on loans of between £5,000 and £14,999 for its current account customers only.

Nationwide claims that this makes it the lender with the lowest personal loan rate in the UK, beating the supermarkets and all the high street banks.

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.”

However, savvy borrowers should be wary that the rate you see advertised is not always the rate you are offered so it pays to shop around to make sue you get the best deal for you.

Just visit http://www.totallymoney.com/loans/ and enter your details to receive a personalised quote that represents the cheapest rate available to you, drawn from a comparison of the entire UK market.