Nationwide has launched its lowest personal loan rate ever.
From Monday the lender will change its price structure on its personal loan product by introducing a tiered rate structure depending on the amount borrowed.
This means that a customer borrowing between £7,500 and £25,000 will qualify for Nationwide's lowest ever personal loan rate on 6.4 per cent.
Customers borrowing between £5,000 and £7,499 will receive a rate of 6.7 per cent.
The new system maintains Nationwides position as a competitive personal loan dealer across all amounts between £1,000 and £25,000.
The repayment term can be between one and seven years and there is no arrangement fee or upfront charges.
Steve Clode, marketing director of Nationwide said: "The introduction of our lowest personal loan rate ever is great news for consumers. And with Nationwide, what you see is what you get.
"We are maintaining our fair and transparent approach of ensuring that all our customers get our published rates – rates which will not change once they apply for a loan. This is unlike most of the banks, which advertise one rate but charge different usually higher, rates depending upon the customer's credit rating."Click here for more information on loans
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