Nationwide loans calculator and 2024 review

See what you'd pay back on an unsecured loan from the world's largest building society, run for the benefit of members. Loan amounts between £1,000 and £50,000 starting from 6.4%.

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Calculate the cost of a Nationwide loan

Table: sorted by representative APR, promoted deals first
1 - 1 of 1
Name Product Finder score Total Payable Monthly Repayment Representative APR Link
Nationwide Member Personal Loan
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.4% p.a. (fixed). Representative APR 6.4% and total payable £10,987.56 in monthly repayments of £305.21.

Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

Late repayments can cause you serious money problems. See our debt help guides.

How do Nationwide loans compare against the competition?

Table: sorted by representative APR, promoted deals first

Before you take out a personal loan, it’s smart to read up and shop around. You can use the table below to see how much you’d be likely to pay for the loan you have in mind.

1 - 4 of 12
Name Product Finder score Total Payable Monthly Repayment Representative APR Link
Novuna Personal Loan
Check eligibility
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 7.4% p.a. (fixed). Representative APR 7.4% and total payable £11,142.00 in monthly repayments of £309.50.
My Community Bank Personal Loan
Check eligibility
View details
Representative example: Borrow £5,000 over 48 months at a rate of 24.9% pa (fixed). Representative APR 27.9% and total payable £7,939.24 in monthly repayments of £165.40.
Barclays Existing Current Account Loan
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.3% p.a. (fixed). Representative APR 6.3% and total payable £10,972.08 in monthly repayments of £304.78.
Nationwide Member Personal Loan
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.4% p.a. (fixed). Representative APR 6.4% and total payable £10,987.56 in monthly repayments of £305.21.
Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

Nationwide loan rates at a glance

The Nationwide Member Personal Loan charges 6.4% APR representative on loans between £7,500 and £25,000. Nationwide offers the loan with repayment terms between 1 and 7 years, and applicants can apply to borrow from £1,000 to £50,000.

Quick overview of Nationwide BS personal loans

Loan amounts From £1,000 to £50,000
Loan terms From 1 year to 7 years
Age eligibility 18 years and over
Application fee No application fee
Repayment holiday Repayment holiday not permitted

Key features

The world’s largest building society, Nationwide provides fast and straightforward fixed-rate loans to members (that’s people who hold a current account, mortgage or savings account) only. If you’re an existing customer, you could have funds in your account in as little as two hours.

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

All interest rates are fixed for the duration of your repayment period, meaning you’ll pay the same amount each month and you’ll know how much the loan is going to cost you overall. 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”.

APR and Representative APR explained

The Annual Percentage Rate (APR) is a summary of the yearly cost of a loan. It takes into account both interest and any unavoidable charges you'll need to pay (for example an arrangement/product fee) over the duration of a loan. Because Nationwide doesn't charge an arrangement fee, its APR comprises just the interest rate – and so they're one and the same.

However, the vast majority of lenders tailor rates (and therefore APRs) to the individual applicant. If they think you're a riskier bet, they'll offset that by offering you a higher APR. The "representative APR" (as defined by the Financial Conduct Authority) is what Nationwide gives to at least 51% of those who take out the loan. At the top end of the market – where Nationwide fights it out among the high-street banks and supermarkets – chances are that 49% of customers are receiving a higher APR. With Nationwide, you'll need a good credit score to get approved and a great credit score to bag that representative APR. Nationwide must calculate APR in the same way as other lenders, and must tell you your personal APR before you sign a loan agreement.

Nationwide advertises a representative APR of 6.4% on loans between £7,500 and £25,000 on the Nationwide Member Personal Loan.

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:

  • Hold a Nationwide current or savings account.
  • Aged 18 or above.
  • UK resident.
  • Have a net monthly income of above £700.
  • Haven’t missed 3 or more credit commitments in the last 12 months.
  • You’re not currently being declared bankrupt, have a CCJ (county court judgement) against your name or be subject to an IVA (Individual Voluntary Arrangement).

However because Nationwide personal loans are only available to Nationwide members, if that includes you, you may not need to jump through so many hoops.

What credit score do I need to get a Nationwide loan?

Nationwide typically offers loans to applicants with high credit scores. It's important to note that your credit record is just one factor that Nationwide considers. However, if you don't have a high credit score, you're very unlikely to get approved for a Nationwide loan.

A "Good" or "Excellent" credit rating would require a score of 881 or higher if you're referring to Experian's scale, 531 or higher if you're referring to Equifax's scale and 604 or higher if you're referring to TransUnion's scale.

Do Nationwide loans give an instant decision?

Yes, Nationwide offers instant decisions online in most cases. (Occasionally, more information may be required.) First, you can use the soft-search eligibility checker to find out your chances of getting approved. (This won't affect your credit score.) Then, if you opt to go ahead and apply, you'll get an instant answer. Nationwide can also offer same-day funding of your loan.

Can I get a second Nationwide loan?

Yes, Nationwide allows you to have more than one loan running at the same time. Each application for credit will be considered on its own merit. Alternatively, Nationwide also allows you to effectively "top up" your loan by closing your current loan and starting a new, larger loan. There's no penalty for repaying ahead of time, but bear in mind that any overpayments may be subject to up to 2 months of interest beyond the date on which you overpay. Because of this, it may work out cheaper to run a second loan alongside the first, rather than consolidating the 2.

Can I make overpayments on a Nationwide loan?

Yes, you can make overpayments without incurring any penalty fee. However, Nationwide can continue to charge interest for up to 2 months on any sums overpaid. So, although making overpayments stands to save you money in interest, you may not save quite as much as you'd imagined.

Is there anything I can’t use a Nationwide personal loan for?

Nationwide states that these loans should not be used for:

  • Business reasons
  • Bridging loans
  • Mortgage deposits
  • Speculative resons
  • Purchasing or retaining an interest in land

Pros and Cons of Nationwide loans


  • Loans available from £1,000 up to £25,000
  • No charges for making early payments
  • Extended loans term of up to 7 years for Nationwide current account holders
  • Money into your Nationwide account in hours


  • Unsuitable for deposits on mortgages or business payments
  • You have a county court judgement against your name
  • Only available to Nationwide members

Customer reviews

Nationwide has a score of 1.8 with rating of ‘Bad’ on Trustpilot based on over 5,800 reviews (updated May 2024). Customers mentioned poor customer service and disappointment in the Fairer Share scheme which saw many existing customers miss out on a payment.

Customer support

For help with loans, you can contact Nationwide’s customer support on 03457 30 20 11. Lines are open Monday to Friday, 8am to 6pm. Saturdays, 9am to 1pm.

Our verdict

In order to apply for a personal loan, you’ll need to have a Nationwide mortgage or be a Nationwide current or savings account holder. However, the online process should be fairly pain free.

Bear in mind that there are certain situations which you won’t be able to use the loan for, and the usual review of your income and credit history will also apply before determining if you’re approved.

Take a look at Nationwide’s competition above to compare deals.

How do I apply?

If you've decided that a personal loan from is right for you, you can head over to 's website to apply. Completing the secure online application form usually takes about 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you'll need to make the process as straightforward as possible.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
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Head of publishing

Chris Lilly is Head of publishing at He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more. See full bio

Chris's expertise
Chris has written 612 Finder guides across topics including:
  • Loans & credit cards
  • Building credit
  • Financial health

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