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.
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.
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).
Available to both new and existing customers, these loans are unsecured personal loans, meaning they’re be 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.
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.
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.
There’s a big catch, however: 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.
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:
Santander will consider your application taking into account factors like your credit score, income and expenditure.
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:
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.
Considering a Santander personal loan? Use our calculator to work out how much it will cost you each month and overall.
Santander existing customers may be able to access preferential interest rates on personal loans at certain conditions. Here’s how it works.
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.
Both new and existing customers can get a personal loan with Santander. Read more about its competitive rates, application process and eligibility criteria.
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