Santander Personal Loans – A personal loan is a sum money customers borrow from the bank to make a specific satisfaction for a period of time with no collateral required. You receive the funds in one lump sum, you have a fixed rate and a fixed term and you will benefit from monthly payments.
You can consider a personal loan as a way to gain financial flexibility when you have a specific borrowing amount in mind.
Santander offers loan to people of age 21 or older and live in the UK permanently, you also need to have a regular yearly income of £7,500+ to be eligible. You are able to make your repayments by direct debit, and you have not been declared bankrupt, had a CCJ or an IVA within the last 6 years. All credits are subject to status and credits checks.
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Features of Santander Personal Loans
There are some features of Santander loans which include the following below:
Competitive:
Santander bank offers competitive interest rates as low as 6.99% APR when you set up automatic payment from any Santander bank checking account…
Flexibility:
Santander bank loans are flexible in the sense that when you have multiple high interest credit cards and or loans, appliances to upgrade or car repairs to take care of, you can gain financial flexibility and borrow from $5,000 to $50,000 without any collateral and repay in a period of 84 months.
What you can use your personal loan for
Consolidating your debts:
If you’ve got balances on store cards and credit cards or even overdrafts and loans, you might be making a number of repayments throughout the month at a number of different rates. A personal loan could help you. You could:
Save money if your Santander personal loan rate is lower than your existing rates.
Lower your monthly repayments at a fixed rate.
Put all of your existing debts into one monthly payment for convenience.
Buying a Car:
Whether you’re buying your first car or upgrading to a newer model, a loan gives you the freedom to buy your car exactly where you want, with no limit to the miles you can do. Loans aren’t secured against your car.
Home Improvement:
A personal loan could bring your home improvement plans to life. From an extra bathroom to a new kitchen, to a loft conversion, you could borrow the money you need to make the change you want.
Special Occasion:
Holiday of a lifetime? Dream wedding? If you have an occasion you need to fund, a personal loan could help you make your plans a reality.
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Santander Personal Loan Rates
New customers | Existing Santander customers | 1|2|3 World and Santander Select customers | |
| £1,000-£2,999 | 13.5% | 13.5% | 13.5% |
| £3,000-£4,999 | 9.8% | 9.8% | 9.8% |
| £5,000-£7,499 | 4.5% | 4.5% | 4.5% |
| £7,500-£15,000 | 2.8% | 2.8% | 2.8% |
| £15,001-£20,000 | 3.3% | 3.3% | 2.8% |
| £20,001-£25,000 | Not available | 3.3% |
Click here to apply now.
What Happens when you apply for a Santander Personal Loans?
Apply online between 6.30am – 11.30pm – You’ll usually receive an accept, decline or refer decision by email within 5 minutes.
Apply online between 11.30pm – 6.30am – You’ll receive an email with a decision by 7.30am.
Receiving a ‘refer’ decision – This means that Santander underwriting team need to look at your application and they may need more information from you. You’ll receive an accept or decline email within 2 working days of the additional information being provided.
If your application is accepted – You’ll receive a further email with details of how to sign your loan agreement online.
Your loan code – Once your application is accepted, we’ll send you a code by first class post. You’ll need to enter it online to release your loan funds
Receiving your loan – Once released, your loan funds will be in your chosen bank account within 2 working days.
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