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What would you do with a Santander loan? With personal loans of up to £20,000 available, you could use the money for a family holiday, a new car, an extension or to straighten out other finances. Whatever you choose to use it for, here’s the lowdown on a Santander bank loan.

James Martin Content Writer
minute read

What interest rates will I get with a Santander loan?

New and existing customers can get rates from 3.0% APR on £7,500-£15,000 loans.

1|2|3 World and Santander Select customers can potentially borrow more with loans up to £20,000 at a similar APR. 

APR is the rate of interest, plus any fees and charges. If you’re new to Santander, then a slightly higher APR would typically apply. The maximum APR Santander will charge is 24.9%

The rates advertised are the representative APR. Santander must offer this to 51% of customers who are accepted for the loan. The other 49% could get a higher rate based on their credit score and individual circumstances. So, you could end up being offered a rate that is higher than advertised as those rates are not guaranteed.

What interest rates will I get with a Santander loan?

Am I eligible for a Santander loan?

To get a Santander loan, you’ll need to be aged 21 or over and live in the UK permanently. You’ll also need to have: 

  • a bank or building society account with a direct debit facility
  • a gross annual income of at least £6,000

In the past six years, you can’t have:

  • had any County Court Judgements (CCJs)
  • had any Individual Voluntary Arrangements (IVAs)
  • been declared bankrupt

Is there a Santander loan for me?

There are so many loan options out there and rates from lenders change all the time. The right one for you doesn’t have to be the one that your existing bank offers. So, before you make a commitment, compare loans right here and find the right loan for your needs. 

All Santander loan details are based on information provided on on 4 June 2018.
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