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Santander Bank operates throughout much of the Northeast and Florida offering personal loans, multiple lines of credit and mortgages to cover you, no matter what you need.
Take advantage of their low interest rates, even without an account. And if you’re a business that’s been around for at least 13 months or you’re looking for an SBA loan, you may be able to get the funds you need to help your company grow.
Personal loan. You can borrow between $5,000 and $35,000 with a personal loan from Santander Bank. APRs from 6.99% to 16.99% (with autopay) if you sign up with your Santander checking account.
Read our Santander Bank personal loan review
Personal line of credit. Available in amounts between $5,000 and $35,000, a line of credit will give you access to your funds whenever you need them, and you only have to pay back as much as you use.
Business loan. Term loans, lines of credit and equipment financing for eligible businesses that have been around for at least 13 months. It also offers SBA loans for startups and other businesses unable to find traditional financing.
Read our Santander Bank business loan review
Home equity line of credit. If you own your home and want to borrow from your equity, Santander Bank can give you access from $10,000 to $750,000.
Overdraft line of credit. Protect your Santander Bank checking or savings account from overdraft by investing in an overdraft line of credit up to $10,000.
Auto loans. While Santander Bank doesn’t offer auto loans directly, it both originates and services new and used car loans as well as refinancing through its subsidiary, RoadLoans.
Mortgage. You can buy a new home or refinance a previous mortgage with a loan from Santander Bank. There are multiple types of mortgages available to make an informed decision.
The total cost of any loan product depends on your interest rate, the amount you borrow and the term of your loan. Santander Bank has a monthly payment calculator for personal loans, lines of credit and mortgages. Select your loan amount, interest rate and loan term to calculate your payments.
Using a personal loan as an example, if you borrow $15,000 for a home improvement project, with an interest rate of 8.99% and a payment term of 36 months, you’ll pay between $477 and $481 a month. You’ll end up paying around $2,316 in interest, bringing your total loan to around $17,316.
The fees associated with borrowing are detailed in your loan contract. Some types of loans, like personal loans, don’t have associated fees. Others may, depending on the terms you’re given. As with most loans, you should expect to be charged a small fee if you make a late payment.
Yes. Santander Bank has a valid safety certificate that keeps your personal information private when you enter it on its site. You can choose to limit some of the information Santander Bank collects about you by calling the number listed on the privacy policy page. Contact information for the bank is also easy to find. Most pages have it listed on the lefthand side so can call or email a customer service representative if you have any issues.
Santander offers loans for both personal and business use, which means you’ll face different application processes depending on the type of loan you want to apply for. However, you’ll begin the process by following these steps:
For business loans, you’ll need to get in touch with Santander Bank by scheduling an appointment. For personal loans, you can fill out your application online. Mortgages and other home loan products will be a mix: You can either fill out a prequalification application or call to speak with a specialist.
Santander Bank opened in the Northeast in 2013. It has over 600 branches and thousands of ATMs in its serviced states, and Santander prides itself on its commitment to respectful and responsible lending. It contributes not only to its clients, but also to education around the globe through scholarships and donations to higher education.
Beyond loans, you can also take out a credit card at Santander Bank or expand your investment portfolio with Santander’s help. Santander has accounts for your personal, business and corporate needs, whether that’s limited to a simple banking relationship or expanded to include loans and lines of credit.
Santander Bank could be a good option for individuals and businesses alike who are looking to take out a loan or line of credit. If you’re looking for a personal loan, you won’t need an account and you’ll see limited fees. And whether your business is well established or a startup looking to get off the ground, Santander may be able to help. However, keep in mind that Santander’s services are largely limited to states in the Northeast and Florida, so you’ll want to reach out to a loan specialist to see if you qualify.
Want to learn about other options out there? Visit our guide to personal loans and our page on business loans to compare lenders.
Santander Bank offers term loans, lines of credit, equipment and vehicle financing and SBA loans for small businesses.
Santander offers personal loans without requiring borrowers to have an account with the bank.