Nationwide Loans
- Typical APR: Depends on the Loan Amount
- Min: £1,000
- Max: £25,000
- Term: 1 - 7 Years
- Bad Credit: No
Summary
Nationwide Loans is part of the Nationwide Building Society, the largest such society in the UK. Headquartered in Swindon, England, Nationwide Building Society has thirteen million members and 19,000 employees many of which are dedicated to the loan division.
Services
Nationwide Loans offers funds for personal loans ideally suited for a new car, home improvements or debt consolidation. Loans can be applied online and approval notices arrive within seconds. At the time of publication, the company was also offering a year’s worth of free petrol for opening a new personal loan.
Loan amounts vary from £1,000 to £25,000 with the option of payment terms ranging from 1-7 years. There is no deferment available on the loans. Nationwide does not offer Payment Protection Service to guarantee the loan, but can refer clients to outside companies that do offer this service.
Clients and Customers
The loan division works with any customer so long as their credit rating is worthy of a loan program as determined by approval criteria and underwriting. Existing members of Nationwide with internet banking and an existing personal loan will be given even faster service and top priority.
Associations and Credentials
Nationwide Loans is a portion of Nationwide Trust and Building Society. Nationwide Trust is a member of the Finance & Leasing Association (Registration Number 170). Nationwide Building Society is authorized and regulated by the Financial Services Authority (FSA.) Recently, the loan division was named “Your Money’s Best Personal Loan Provider.”
Interest Rates
At writing, loans are offered with typical interest rates of 8.9% to 17.4%. The typical interest rate on a loan amount of £7,500 to £14,999 is advertised as being 8.9% fixed.
