Nationwide Building Society has sent a message to millions of its members across the UK, highlighting a loan service that could offer predictable monthly repayments. The world's largest building society is promoting personal loans as a way to plan ahead for significant expenses.
Emails to members outline that loans are available from £7,500 to £25,000 over one to five years at a representative 5.6% APR fixed, subject to individual financial circumstances. A £10,000 loan repaid over five years would result in monthly payments of just over £190, with a total repayment of £11,449.80.
Nationwide emphasises that the example is representative and that rates may vary based on the amount borrowed and repayment term. The institution notes that requesting a quote does not affect credit ratings and that loans come with fixed repayments and no setup or early repayment fees.
Members can obtain quotes through internet banking, the Nationwide app, or by calling 0345 266 1498. However, a full credit check will be conducted upon application, which could influence credit scores.
