August 7, 2009

Personal loans lead by Nationwide

Filed under: News — Tags: loans, personal loan —

Nationwide are pushing on the market loan rates, offering 7.7% to new customers:

With effect from Thursday 6 August 2009, Nationwide will be reducing its personal loan 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.

A nice table for comparison accompanies the press release:

Lender	Advertised headline rate on £5,000	Advertised headline rate on £7,500	Advertised headline rate on £10,000
Nationwide	7.70%	7.70%	7.70%
RBS	12.90%	8.90%	11.40%
NatWest****	12.90%	12.90%	11.40%
A&L	8.90%	8.90%	8.90%
Abbey***	8.90%	8.90%	8.90%
HBOS***	17.40%	8.90%	8.90%
Lloyds TSB	13.90%	9.90%	9.90%
Barclays	14.90%	9.90%	9.90%
HSBC	16.90%	8.70%	8.70%
*Online only - offline other rates apply ** Online only available to Premier and Platinum Current Account holders only – offline other rates apply			Correct as at 16/07/09