The Nationwide Online Personal Loan: Essential Features to Know

Looking for a loan with a low-interest rate? If you have a current or savings account with Nationwide, you can access their personal loan. This loan may be a good option if you are in need of accessing more funds quickly.

The Nationwide Online Personal Loan gives you the chance to settle credit card debt, provide funds for home improvement or finance your very first car. It also has a longer repayment term of up to 7 years plus money can be transferred to your account in just about two hours!

Before you decide if this loan is right for you, continue reading to learn about all of the essential details. We will also discuss the eligibility requirements for applying for this loan. 

The Nationwide Online Personal Loan: Features 

Nationwide provides super value loans for its customers and charges minimum interest. In this article, we’re going to look closely at the Nationwide Online Personal Loan and what it can offer its customers.

Suited for individuals in need of financial assistance for personal expenses, this loan is a good choice. Aside from the fixed unsecured loans up to £25,000 you can also enjoy longer repayment terms. Other lenders only offer up to 60 months term and charge as high as 12% APR or higher. However, with the Nationwide Online Personal Loan, you get great value for borrowing a specific amount of money. However, note that funds from this type of loan shouldn’t be used for business and investment purposes, mortgage deposits or purchasing land.

Another reason to get this loan is that you will receive an instant decision or approval. Since this loan is only available for members of Nationwide Building Society, you can get approved within minutes. Moreover, funds can be immediately transferred to your account in two hours or less. This loan is an excellent option for those who had unexpected expenses come up and are in need of financial support quickly. 

Those who have their main account with Nationwide have access to the fixed 3% APR for personal loans. This is definitely one of the lowest rates in the market. This low-interest rate helps customers' money to go further. 

Nationwide Online Personal Loan Application

To apply for this loan, you can simply go to the Nationwide website and click on apply. You can also dial 0900 545 30 00 or visit the nearest branch. Note that applying for the Nationwide Online Personal Loan is absolutely free. To ensure the success of your application, you must be 18 to 79 years old, UK resident, have a net monthly income of £700+ and a member of the Nationwide Building Society.

When applying, be prepared to supply personal information such as proof of income, address history, and banking details. Depending on your situation, the bank may also require other supplemental documents as well. 

For the loan amount, you can borrow a minimum of £1,000 up to £25,000. In your application, you will dictate the amount that you would like to borrow. 

Fees and Charges of the Nationwide Online Personal Loan

Aside from the representative APR of 3%, there are no other fees when applying for this loan. For loans with more than a 5-year repayment term, APR will be 18.9%, at the highest and it’s already fixed.

Opting for the Nationwide Online Personal Loan is a good choice because of the hassle-free application process and smooth transaction. Since this is only available for Nationwide members, you can score the lowest interest and pay back the money in as long as 7 years. For more information, check out the website of Nationwide Building Society. 

Nationwide Contact Information 

If you would like to talk to Nationwide directly about their Online Personal Loan you can call them at  0800 545 30 00 or use their online chat platform to ask questions. 

In addition, you can also visit their head office at Nationwide House, Pipers Way, Swindon SN3 1TX. If the head office is not near you, feel free to visit one of the other branches that may be closer. 

If you are not sure that the Nationwide Online Personal Loan is right for you, you can also check out other personal loan options. 

Note: There are risks involved when applying for a loan. Consult the lender’s terms and conditions page for more information.