Nationwide Building Society has reduced the rate on personal loans of £7,500 to £14,999 by 0.2% APR, earning it an 'excellent' rating as a result.
A personal loan of £7,500 to £14,999 for new customers over a term of one to five years now has a competitive APR of 4.6%, while the same loan for existing customers has an even more appealing rate of 3.4% APR.
Example monthly repayments for a new customer: £7,500 over five years = £139.84 (£135.93 for existing customers).
This loan is available to those who are aged at least 18 and have a minimum monthly income of £700. Existing customers will need to meet additional criteria to qualify for the lower rate. Borrowers should remember that rates are representative and dependent on their credit rating.
The rate reduction to this deal for new and existing customers is sure to appeal to those who are looking for a competitive mid-tier loan. This is a competitive offer that fully deserves its 'excellent' rating.
Moneyfacts rating: Excellent
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