Nationwide’s leading loan rate
Filed under: News — Tags: consumer finance, consumer loans, loans —
The Nationwide Building Society has just released news of a serious reduction in its loans rate, rhat makes it the leading rate for normal lending purposes at present:
With effect from Thursday 6 August 2009, Nationwide will be reducing its personal loans rate to offer a market 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.
Now we’ll just have to see if other lenders follow suit. 
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