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Reduced personal loan rates from Nationwide

Published: 06/05/2011

As the personal loan market continues to be competitive, Nationwide has announced that it will reduce its rate by 0.2 per cent. 

Available to new customers and existing customers taking out a new loan, the rate is applicable for loans of up to five years between £7,500 and £14,999.

The cut means that the new personal loan rate is set at 7.1 per cent APR Representative.

Other top personal loan rates come from Sainsbury's which has a 6.8 per cent APR, and M&S and Alliance and Leicester, both of which offer rates of 6.9 per cent.

"If you're looking for a personal loan to help buy that new car, pay for a wedding, carry out home improvements or consolidate other debts, Nationwide's new rate is definitely one to consider," said Richard Napier, Nationwide's head of banking.

"Whether you look at lenders on the high street or the supermarkets, our rate is still highly competitive."

Nationwide has also launched a new Save to Buy product designed to help first-time buyers save up for a deposit.

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Last Updated: 11-02-2012