review September 2020

Nationwide BS Non-Main Account Member Personal Loan
Nationwide BS Non-Main Account Member Personal Loan

Building society Nationwide offers its members a flexible personal loan option with competitive rates.

Being a building society and not a bank, Nationwide works a little bit differently than your average high-street bank – it doesn’t issue any shares and is owned by its members. If you have a current account, a savings account or a mortgage with Nationwide, you automatically become a member, and that gives you access to a series of services including this personal loan.

If you scroll down the page to take a look at the specs, you’ll see this loan ticks quite a lot of boxes, for example, allowing joint applications and quick access to the funds. There are no extra fees and you’re entitled to some flexibility if your financial situation changes and you want to pay off your loan more quickly, as Nationwide won’t charge any penalties for overpaying.

However, it won’t be possible for you to apply without becoming a Nationwide member.

Name Product Total Payable Monthly Repayment Representative APR Link
Nationwide BS Non-Main Account Member Personal Loan
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 4.1% p.a. (fixed). Representative APR 4.1% and total payable £10,632.60 in monthly repayments of £295.35.

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Key details

Loan typeUnsecured Personal Loan
Loan amounts£1,000.00 to £25,000.00
Loan terms1 Year to 7 Years
Loan rate typeFixed
Product fee0%
Same day funding available
Same day funding noteExisting current account customers can receive funds within 2 hours.
Instant decisions in most cases
Soft-search facility available
Joint applications
Overpay without penalty
Concurrent loans allowed
Topping-up pays off existing loan and initiates a new loan
Repayment methodsDirect Debit

Am I eligible?

Available toExisting Customers only
Age18 to 79
Credit profilesGood
Acceptance noteMinimum Applicant Income £700 net Per Month.

How do I apply

You can apply if you’re a Nationwide member and you meet the eligibility criteria – don’t forget to check them, so that you don’t waste time with a pointless application.

You can apply online by logging in to your online banking. The application will start with a “soft” credit check that won’t impact your credit score and will tell you how likely you are to be accepted. You’ll need the following:

  • Your address history and current employment status.
  • Your bank/building society details.
  • Your monthly income after tax and monthly outgoings.

Nationwide offers a better rate to members that have a mortgage, a savings account or a main current account, which means if you use Nationwide regularly, you have a good chance of being eligible for this discounted Nationwide personal loan.

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