87% of Santander customers in our 2023 customer satisfaction survey would recommend the brand to a friend.
If your application is approved you'll be sent a code by post (!) which you'll need enter online to release the funds
Santander personal loans
Our Santander loans calculator will help you work out how much you'll pay back on a Santander personal loan.
Promising a decision within 24 hours when you apply online, Santander loans are available to both new and existing customers, though 1|2|3 World and Santander Select customers can enjoy enhanced rates on selected loan amounts.
Calculate the cost of a Santander loan
Table: sorted by representative APR, promoted deals first
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Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.
Late repayments can cause you serious money problems. See our debt help guides.
Our calculator lets you pick how much you want to borrow, over a timeframe that suits you, to estimate how much you would pay back each month and overall.
We base our calculations on Santander’s representative APR, but it’s important to note that credit is subject to status and your circumstances may affect the rate you’re offered.
How do Santander loans compare against the competition?
Table: sorted by representative APR, promoted deals first
Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.
Overview of features
Available to both new and existing customers, these loans are unsecured personal loans, meaning they’re based on creditworthiness, rather than using property, vehicles and other assets as collateral.
While Santander’s loan rates can be competitive, the advertised representative APR may not be the rate you’ll receive. Santander will offer you a rate based on assessment of your personal financial circumstances.
Santander runs credit and affordability checks and gives a decision within one working day. After you’ve signed the agreement, funds are transferred to your account within one working day.
You then pay a fixed monthly amount, so you can budget with confidence and you’ll know in advance what the loan will cost you overall, and when it’ll be paid off. You can overpay your loan (if you wish to) at no extra cost.
Existing customers (such as 1|2|3 World and Santander Select customers) may be able to access lower loan rates depending on the size of the loan and personal circumstances. If that’s you, you can calculate costs and check if you’ll get a better rate using our calculator.
What is APR?
The Annual Percentage Rate (APR) is designed to provide an annual summary of the cost of borrowing. It takes into account interest and any mandatory charges – for example an application fee. Santander doesn’t charge an application, product or admin fee, so the APR and the interest rate are the same.
Lenders like Santander must calculate the APR of their products in the same way and must tell you the APR before you sign an agreement. This means that, for consumers, it can be a handy tool for comparison.
However, there’s a big catch, lenders only have to give the advertised representative APR to 51% of customers, while the other 49% could pay more (hence why it’s referred to as the representative APR).
Santander runs credit searches with credit reference agencies Experian, TransUnion and Equifax and weighs this up alongside details of your income and outgoings, the loan that you’ve applied for, and any previous dealings you’ve had with Santander, to decide on the rate to offer you.
Am I eligible for a Santander personal loan?
You should only apply for a Santander personal loan if you’re certain you can meet the repayment terms, and you meet the following criteria:
- You must be at least 21 years old.
- Be a permanent UK resident.
- Have a regular gross annual income of at least £6,000.
- Have a bank or building society account with a Direct Debit facility.
- Have not been declared bankrupt, had a CCJ or an IVA within the last 6 years.
Santander will consider your application taking into account factors like your credit score, income and expenditure.
What info will I need to apply?
If you’ve decided that a Santander personal loan is for you, then you can apply online. Make sure you have the following details handy:
- Addresses for the past 3 years.
- Employer’s address and postcode.
- Monthly income and expenditure.
- Bank/building society details.
Can I make overpayments or repay my loan early?
Yes. When you make an overpayment, unless you request otherwise, your monthly repayment amount will stay the same but you can potentially repay the loan more quickly.
If you want to pay the whole loan off ahead of time in one go, call 0800 028 4055 to request a final settlement figure.
The good news is that you won’t be charged a penalty for paying off your loan early. The not-so-good news is that you probably won’t save as much as you may have hoped in interest. This is because your final settlement will be based on a “final settlement date” that’s 28 days from when you give notice if your loan has less than a year left to run, or 28 days plus one calendar month if your loan has more than a year left to run.
Some lenders offer better early-repayment terms than others. If there’s a likelihood that you’ll be able to clear a loan ahead of time, then hunting out favourable early-repayment terms could save you money.
Does Santander offer debt consolidation loans?
Santander doesn’t offer dedicated debt consolidation loans, but you can use a regular Santander personal loan to consolidate your debt. Santander debt consolidation loans are available to both new and existing customers, and Santander 1|2|3 World and Santander Select customers will also be offered better rates.
Who is Santander?
Santander Group is a Spanish bank that originated (in case you hadn’t already guessed it) in the city of Santander, Spain. After purchasing both Alliance & Leicester and the savings arm of Bradford & Bingley, and merging with Abbey National, Santander became a standard fixture of UK high streets.
Whether you’re looking to buy a new car, consolidate debt, refurbish the kitchen, or take that desperately needed holiday, Santander offers competitive and flexible fixed-rate loans. It’s quick and easy to apply online, and you don’t need to already bank with Santander (although existing customers may be able to access a better rate).
Santander customer reviews
Santander was highly commended in our 2023 customer satisfaction awards for personal loans, with many praising its “great customer service” and “quick response time”. One customer said “Very easy to apply and funds were deposited quickly in my account.” 87% of Santander personal loans customers also said they would be happy to recommend the lender to a friend.
As a whole, however, Santander currently has a TrustPilot rating of 1.4 out of 5, based on 6,000 reviews (updated November 2023). Many of the Santander customers who rated the lender below average complained of difficulties with customer service over the phone and via chat. On the other hand, reviewers who rated the lender the full 5 stars were pleased with the service they received, particularly in branches.
Frequently asked questions
Personal loans ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our customer satisfaction scores ("Customers say") are based on a survey of 1,347 customers carried out in December 2022.
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We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.
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Existing Santander customers can borrow up to £25,000 at a competitive interest rate. We look at how Santander personal loans work and their features.
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Both new and existing customers can get a personal loan with Santander. Read more about its competitive rates, application process and eligibility criteria.