Nationwide Bank Loans

APR: 3.4% Representative
Loan amount: £1,000 - £25,000
Repayment duration: 12 - 60 Months
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Nationwide Bank Loans customer reviews

2.2 out of 5 from 197 reviews

Fantastic service!

08:24 13-05-2017

Imagevia Choose Wisely

I am a customer and needed a loan to rid myself of an expensive credit card. Applied for a loan not really expecting to be successful judging on previous reviews but my loan was agreed and although not at the highlighted rate still not much approve it! I am so happy that I can now sort out my finances and get rid of the credit card. Thank you Nationwide!!!

Rosemary North

Great rates and service , hassle free

11:46 06-05-2017

Imagevia Smart Money People

Nationwide are highly recommended for loans , their rates are always competitive and their loans are hassle free . Easy to connect with online banking and clear statements

Barney Ball

Didn't get it at 3% but pretty happy

09:32 12-04-2016

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I have a mortgage with Nationwide so I thought going with trying for a loan to poay for fitting a new kitchen and bathroom before we sell the house would be a good idea - especially at 3% or whatever it is. Was a bit p***d [ED - profanity removed] off that I got the loan at 6.6% instead but still, it was pretty quick and painless considering I don't have the best credit rating out there. Thanks

LEE

Brilliant Service and Great rates

18:00 04-04-2017

Imagevia Smart Money People

Great rates and brilliant customer service. Can't fault the company!

Leah Oakley

goodtobesaid

06:09 10-01-2014

Imagevia Choose Wisely

sneha123

Excellent, very helpful

19:56 16-03-2017

Imagevia Smart Money People

I was looking for a personal loan and as I am already a customer of nationwide I thought I would check online using there no obligation quote service. I entered all the details they needed and was asked to ring them to process the application further. The number was easy to find and the employee on the other end was very helpful, the whole process was quick efficient and stress free. Would definitely recommend banking with them and looking into other products services they have on offer.

Jessica moore

Really not loyal to long time customers!!

09:46 02-11-2013

Imagevia Choose Wisely

Really annoyed with Nationwide, my bank for the last 15 years. I wanted a loan to consolidate my debts and by getting the loan it would reduce my monthly outgoings by around £350 a month. I was turned down due to having 3 dependents basically as they deemed i could not afford the repayments which is bull!! So much for Nationwide on your side!! So i have written them a complaint letter considering i want the money to pay off my credit card with them and my overdraft you would think they would be happy to help. They did not even do a credit check on me as i checked and when i spoke to them they said try applying for a joint loan that will help.... so i did and still a big fat NO!! Its beyond a joke i am one dissatisfied customer that's for sure!!!!

Aliandra

Nationwide loan

21:10 24-12-2016

Imagevia Smart Money People

I was after a good loan deal and the Nationwide one was the best product I could find in terms of length and interest rate. I was accepted and the loan went through very quickly and I was well-informed every step of the way. The information was very clear and I was very happy with the whole process from start to finish.

Lucy Walker

No loyalty to long time customer

18:02 25-04-2012

Imagevia Choose Wisely

I work full time, pay all my bills on time, have a good credit rating, yet trying to get a loan from the building society I've been with for 25-ish years to consolidate some debt that despite the added interest, would reduce my monthly outgoings by around £150, was a pointless exercise. And the online application via the nationwide website was a bad experience due to their website crashing three times whilst trying to apply. Furthermore it took two emails and a phone call to even find out whether I'd been granted a loan or not. Not happy, and wouldn't recomend

Jason

Low interest loan

19:22 15-11-2016

Imagevia Smart Money People

Had a meeting with the bank and they explained my options. As a current account holder I got a really good low interest loan (under 10%).

Kirstie Knowles

Our review of Nationwide Bank Loans

Our review by Alex
Written by: Alex
Simplicity
65.1
Features
82.9
Consumer sentiment
96.5

Total OPTIOSCORE
82.5/100

As with most other high street banks and building societies, Nationwide offer a variety of loan amounts with repayment periods spanning one to seven years and the rates offered are on par with the other banks and supermarkets. However, beware the lowest rates are reserved for Nationwide customers only. It’s also worth noting that rates will differ depending on how much you borrow, so don’t take it for granted you’ll receive the rate advertised. If you are a Nationwide current account customer it’s worth making the most of their Loyalty Price Promise which promises to beat any like-for-like offer from another UK loan provider by 0.5% APR.

As you would expect from a financial powerhouse, they provide online and mobile account management. Also the bonus of being able to pop into a branch to sort out any concerns can be an attractive feature for a lot of customers. Nationwide do offer phone support Monday to Friday, 8am to 6pm but having to sift through a bunch of automated options before you speak to a human can become quite tedious.

In terms of customer feedback Nationwide have received a fair bit of negative feedback across the internet. This is to be expected with a company of their size, and after carrying out some deeper research, general feedback by borrowers is on the whole positive. At time of writing this Nationwide loans were scored 3.1 out of 5 by Choose Wisely customers with customers praising their affordable rates, easy application and prompt payout.

Overall verdict: If you have good credit and are looking for a personal loan, it’s worth considering Nationwide as they offer competitive rates, especially if you’re an existing customer. But beware, dependent on how much you borrow you may not get the rate that’s advertised.

Highlights

  • Low representative APR
  • Beat any like-for-like rate by 0.5% APR for main current account customers
  • Online quote doesn’t leave a credit footprint
  • Online management portal for making payments and checking balance

Minimum criteria

  • Must be aged between 18 and 79
  • Must have a net monthly income of at least £700
  • Must have the right to live and work in the UK
  • Can’t have missed 3 credit commitments in the last year
  • Must not be currently bankrupt, have CCJs or be under an IVA
  • Self-employed customers must prove 1 year’s income
  • Joint applicants must live at the same address

Fees

  • Maximum APR 10.7%
  • Arrangement fee: £0
  • Early repayment fee: £0
  • Late payment fee: £0

About Nationwide Bank Loans

Nationwide, one of the UK’s largest building societies, offering loans between £1,000 and £25,000 to be repaid over one to seven years. Their advertised representative APR is 3.4%, one of the cheapest options on Choose Wisely. However, they do take into account how much you are looking to borrow, and your personal circumstances when deciding the final interest rate.

To apply with Nationwide you must be aged between 18 and 79 and have a net monthly income of at least £700. You must also have a good credit history, missing no more than three credit payments in the last year. Nationwide won’t accept any applications from anyone that has been declared bankrupt or has a CCJ or IVA against their name. If you are self-employed you must be a homeowner and be able to prove a minimum of one year’s income through either an accountant or SA302 form.

Nationwide do not charge any arrangement or upfront fees and offer a free no obligation quote before you take the agreement out. Applications can be completed either over the phone or via their online application. This can take up to 15 minutes but will provide you with a preliminary decision straight away. If you’re an existing Nationwide customer, you may not have to provide any documents but if you aren't, then expect to provide proof of income and more comprehensive personal details.

Once Nationwide have received your application you will receive an email and a text message saying that you have been accepted in principle. The loan agreement will then be sent to you within two working days. Read through this carefully, sign it and send it back. If you’re a Nationwide customer, the funds can then be in your account within 24 hours of them receiving your returned documentation. If not, then It can take three to five working days.

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