Santander Existing Customer Personal Loan review March 2021

Santander Existing Customer Personal Loan review March 2021

Santander Existing Customer Personal Loan
Santander Existing Customer Personal Loan

With competitive interest rates and overpay at no extra cost, Santander personal loans can be a flexible solution if you need extra money to consolidate your debt, handle an unexpected situation or make the best out of a special occasion.

Active in 10 main countries, Spain-founded Banco Santander is a global banking group that has around 125 million customers worldwide. It arrived to the UK in November 2004 and currently has around 14 million customers.

Both new and old customers can apply for a personal loan with Santander, but if you already have a Santander bank account, you may be able to borrow up to £25,000. 1|2|3 World and Santander Select customers may be able to get preferential rates.

Before applying, don’t forget to use an eligibility checker – it will tell you if you’re likely to be accepted without impacting your credit score. Once that’s done, you can either apply in branch or directly online in a few minutes. If you’re approved, instant funding is available, so you don’t need to wait for days to kick-start your projects.

Name Product Total Payable Monthly Repayment Representative APR Link
Santander Existing Customer Personal Loan
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 3.0% p.a. (fixed). Representative APR 3.0% and total payable £10,462.68 in monthly repayments of £290.63.
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Key details

Loan typeUnsecured Personal Loan
Loan amounts£1,000.00 to £25,000.00
Loan terms1 Year to 5 Years
Loan rate typeFixed
Product fee0%
Same day funding available
Same day funding noteAvailable in branch.
Instant decisions in most cases
Soft-search facility available
Joint applications
Overpay without penalty
Concurrent loans allowed
Topping-up pays off existing loan and initiates a new loan
Repayment methodsDirect Debit
Representative example: Borrow £10,000.00 over 3 years at a rate of 3.0% p.a. (fixed). Representative APR 3.0% and total payable £10,462.68 in monthly repayments of £290.63.

Am I eligible?

Available toExisting Customers only
Age21 or over
Income£6000.00 Per Annum
Credit profilesGood
Acceptance noteMinimum Applicant Income £6,000 Per Annum.

How do I apply?

Once you’ve compared loans, checked the eligibility criteria and decided that Santander offers the personal loan option that works best for you, you’re good to go. You’re going to need the following in order to apply:

  • Your address history for the past three years.
  • Your employer’s details (name, address, contact number).
  • Your bank account details (from which Santander will take monthly direct debits to repay the loan).

You can apply both online or in person. If you choose to apply in person, it’s a good idea to book an appointment online in advance, so that you don’t have to wait too long at your local branch.

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