Santander Personal Loans Review

Santander is a reliable and time-tested financial bank with international appreciation and approval.

The company was established in 1857 and currently has over a few thousand branches all around the world. Looking for an optimal way to get money from, Santander personal loan is a rather advantageous offer.

The lender offers affordable interest rates and features competitive conditions.

Santander Personal Loans: Advantages and Disadvantages

A personal loan from Santander will help you cover different planned and unpredictable expenses, including:

  • Debt consolidation;
  • Life events;
  • Medical care;
  • Car repairs;
  • Home improvement and others.

The positive moment is that you can get a considerable sum of money after a short application process.

With the help of Santander financing bank you will be able to receive from £5,000 up to £35,000 at once and get an ultimate chance to pay it off during 60 months.

 santander bank loans

The loan will be definitely beneficial for people living around one of the branches, since your signature is inevitable for loan obtaining.

This serves a significant drawback for clients who have no access to Santander bank or its branches.

Additionally, the company features:

  • No annual fees;
  • No collateral;
  • Fixed interest rates;
  • Discounts for automatic payments;
  • Free application.

Detailed Information about Interest Rates and Other Features of Personal Loans by Santander

Santander offers personal loans at very convenient conditions. First of all, you can receive from £5,000 up to £35,000 for your expenses. Besides, you will be able to apply for the loan without any collateral or extra fees.

Multiple repayment terms serve another benefit of the loan. This way you can pay off the loan in 2, 3, 4 or 5 years after you get qualified. Santander repayment option includes both principal and repayment.

Fixed rates will depend on the credit score and other factors, though it commonly varies from 6.99% APR up to 16.99% APR.

Typically, specific APRs offered in the loan include 6.99%, 8.99%, 10.99%, 12.99% and 16.99%. 0.25% is a discount that is offered to clients of Santander bank, and they prefer their monthly payment to be automatically taken from the account.

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How to Apply Santander Personal Loan

While the overall process usually takes up to 10 days, application for a personal loan is available online, and it will take around 10-15 minutes to fill it out.

The list of documents you will need includes:

  • Your home address;
  • Social security number;
  • Income information;
  • Employment details;
  • Bank account information (for Santander’s clients).

Remember that upon filling the application you authorize Santander to provide a hard credit inquiry that will further affect your credit.

If you have completed the application and have been qualified, Santander team will contact you and set up an appointment at the nearest branch to sign the documents.

Suggested: Natwest Personal Loan rates

Meet the Requirements to Get Qualified

All the UK citizens may apply for a personal loan by Santander. However, to get the top APR you will have to possess a clear credit history and excellent credit score.

Besides, no one younger than 18 years old can qualify. However, Santander allows spouses to be co-applicants and apply together.

All in all, with minimal qualification requirements, Santander personal loans will give you a chance to get the loan at reasonable APR and cover your expenses conveniently.

4 COMMENTS

  1. Sharron

    It was not my first time getting Santander personal loan, but each cooperation leaves positive emotions. With my last loan, I managed to make a few necessary fixings at home and buy necessary details for further home improvement.

  2. Dave P.

    I had to get a personal loan to help pay for my daughter’s wedding which is next month. I did so much research and ended up going with Santander as they offered me the lowest APR and were willing to work with my income., which is tight. You are spot on about this place. They are fantastic and I highly recommend them.

  3. missy

    This might be helpful for those unexpected car repairs when they pop up. I’m always worrying that I won’t have the money if something major happens. Definitely will keep it in mind.

  4. Martin

    When my car broke down, I started looking for an extra source of money to cover the damage. Santander personal loan seemed a quite attractive option, as it featured fixed interest rates (definitely competitive), no collateral required, no annual fees, but a range of innovative discounts instead. Now I can drive my car without any problems, and there are only 11 months of the loan left.

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