Nationwide is the world’s largest building society, which is run for the benefit of its members. It provides fixed-rate personal loans to existing current account holders.
Dating back to 1846, Nationwide has grown to be the second largest provider of household savings and mortgages in the UK. Due to it being a mutual, Nationwide is run by and for the benefit of its members, re-investing half a billion pounds last year into improving its products and services.
Whether you’re looking for a way to tidy up your finances, replace your car or make some home improvements, Nationwide can provide a personalised, no-obligation quote today and an instant online decision.
Fast, flexible loans from Post Office Money
- Borrow from £1,000 to £25,000
- Instant decision in most cases
- Fixed rate and fixed monthly payments over the whole term
- Applications from self-employed considered
Representative example: Borrow £15,001.00 over 3 years at a rate of 3.1% p.a. (fixed). Representative APR 3.1% and total payable £15,718.32 in monthly repayments of £436.62.
How do Nationwide loans hold up against the competition?
If you’ve been to the Nationwide site and had a quote on a loan, it’s a smart idea to shop around before you sign on the line. Use the table below to compare costs for the loan that you have in mind.
You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.
Warning: late repayments can cause you serious money problems. See our debt help guides.
Key features of Nationwide personal loans at a glance
Nationwide personal loans are only available to Nationwide “members” (people who hold a current account, mortgage or savings account).
Nationwide provides “unsecured” loans meaning they’re be based on creditworthiness, rather than the use of property or other assets as collateral.
Nationwide also offers additional perks to “main current account holders”, such as preferential rates, a price beating service and extended loan terms of up to 7 years. Check the site to see if you qualify.
All interest rates are fixed for the duration of your repayment period, however the rate you’re offered will depend on factors like the amount you apply for, the term of the loan, your credit rating and your income. It may differ from the advertised “Representative APR”.
What is APR?If you’re comparing any credit-based products, it won’t be long before you’ll come across the Annual Percentage Rate (APR). This figure is designed to provide an annual summary of the cost of a loan. It takes into account both interest and any mandatory charges to be paid (for example an arrangement fee) over the duration of a loan.
All lenders must calculate the APR of their products in the same way, and must tell you the APR before you sign an agreement, so for consumers it can be a handy tool for comparison.
Bear in mind, however, that lenders are only obliged to award this rate to 51% of those who take out the loan – the other 49% could pay more. That’s why it’s often referred to as the representative APR.
Am I eligible for a Nationwide personal loan?
When applying for a personal loan with Nationwide, factors such as your credit history, income and the amount you apply for will be considered. You shouldn’t apply unless you’re certain you can meet the repayment terms. You’ll then also need to meet the following criteria:
However because Nationwide personal loans are only available to Nationwide current account holders, if that includes you, you may not need to jump through so many hoops.
Is there anything I can’t use a Nationwide personal loan for?
Nationwide states that these loans should not be used for:
How do I apply?
If you’ve decided that a Nationwide personal loan is right for you, then you can apply online by logging in to your existing Nationwide bank account and following the loans application process.
Frequently asked questions