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Nationwide offers cheapest loans
Tuesday, 5 January 2009 Writes Hazel Cottrell hazel.cottrell@consumerchoices.co.ukNationwide is offering the cheapest loans on the market, exclusively to its FlexAccount customers.
People with a Nationwide FlexAccount can now benefit from the cheapest loans on the market.
| No lender on the high street, internet or supermarket can beat our rate. |
From today, the building society is offering them a typical rate of 7.6% APR on Nationwide loans of between £7,500 and £14,000 for up to five years. This is the lowest rate available from the main personal loan providers in the UK.
Richard Napier, Nationwide’s head of credit cards and personal loans, said: “No lender on the high street, internet or supermarket can beat our rate.”
He added: “For those who have spent too much over the Christmas period and have several outstanding debts, a personal loan at a highly competitive rate may be the best solution.”
To qualify for the super-low rate, customers must have a FlexAccount with a Visa debit card and have deposited at least £750 per month in it for the last three months.
Nationwide’s latest move is part of a growing trend of providers introducing exclusive deals for existing customers.
David Black, banking specialist at financial information company Defaqto commented: “The cross-selling of other products on to the existing customer base is destined to become the key battleground as each bank strives to become a one-stop shop for all the personal finance needs of their customers.”