Nationwide Building Society has cut its personal loan rate for its main current account customers to its lowest ever rate – 4.9% APR Representative.

The new rate is available to Nationwide FlexAccount, FlexDirect and FlexPlus current account customers borrowing between £7,500 and £14,999, for loans of up to five years until 26 September.

Nationwide customers can apply for the loan in branch, online via www.nationwide.co.uk or by telephone.

John Crossley, Nationwide’s head of credit cards and personal loans, said: “The Nationwide personal loan is now the most competitive rate compared to other high street providers and is certainly one to consider – whether you are looking to consolidate your debt, finance a new car or pay for home improvements.

“With new car registrations coming out on 1 September, this is a popular time of year for securing finance to buy a new car.

“Researching your finance options could save you money and a Nationwide personal loan is worth considering.”