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Santander loans

Thinking of taking out a Santander loan? Read our guide to find out what loans are available and whether you could be eligible for them.

Thinking of taking out a Santander loan? Read our guide to find out what loans are available and whether you could be eligible for them.

Who is Santander?

Santander UK was formed as a rebranding of Abbey National, Alliance & Leicester and Bradford & Bingley building societies. 

Now one of the UK’s leading retail banks, Santander offers a full range of services, including current and savings accounts, mortgages, credit cards and personal loans. 

It can take up to two days to receive a Santander personal loan, so it could be a good option if you don’t need your money in a hurry. Unlike some bank loans, you don’t have to be an existing Santander customer to apply.

Which is the best Santander bank loan for me?

Santander offers the following loan options:

Personal loans
Santander offers unsecured personal loans from £1,000 to £25,000 over one to five years.

A personal loan could be used for a number of purposes such as buying a car, making home improvements, or for a special occasion like a wedding. You could also combine existing debts from a credit card, overdraft or other loans into a single debt consolidation loan. 

Be aware that the advertised APR is representative and only needs to apply to 51% of customers. The interest rate you’ll be offered depends on the loan amount and term, your personal circumstances and credit profile. 

As the loan is unsecured, you won’t need to put up your home or car as collateral. Monthly repayments are fixed, so you’ll pay the same amount each month for the length of your loan term.

Why choose Santander?

Santander personal bank loans offer the following features:

Borrowing range 
From £1,000 to £25,000.

Flexible terms 
From one to five years.

Overpay at any time
Make overpayments on your loan at no extra cost.

Fixed monthly repayments
You’ll always know exactly how much to budget for.

Get a decision in minutes
Apply online and you could get a decision within five minutes.

Joint loans available 
You can take out a personal loan with another person, such as your partner.

Eligibility

To be eligible for a Santander loan, you must:

  • Be aged 21 or over
  • Have a regular yearly income of £10,500+ for loans up to £19,999
  • Have a regular yearly income of £20,000+ for loans between £20,000 and £25,000
  • Be employed, self-employed or retired
  • Be on the electoral roll and live in the UK permanently
  • Not have been declared bankrupt, had a CCJ or IVA within the past six years 

When you apply for a personal loan, Santander will carry out a hard credit search on your credit file. This will stay on your credit report for 12 months.

If you want to compare which loans you might be accepted for before you apply, use Compare the Market’s eligibility checker. It’s a ‘soft search’ and won’t impact your credit score.

Are there any charges?

Santander doesn’t charge an arrangement or set-up fee when you apply for a personal loan. 

If you miss a payment, you’ll be charged interest. If you have other accounts with Santander, the bank may move funds from them to cover the missed payment plus interest.

Why compare loans with Compare the Market?

Compare loans in less than 4 minutes[1]

Compare a wide range of loan providers

Check your eligibility without impacting your credit score

Compare the Market Limited acts as a credit broker, not a lender. To apply you must be a UK resident and aged 18 or over. Credit is subject to status and eligibility.

[1] Correct as of December 2023.

How well is Santander reviewed on Trustpilot?

In September 2023, Santander was rated 1.4 on Trustpilot.

See Santander’s current star rating on Trustpilot

Frequently asked questions

How much can I borrow from Santander?

Santander offers personal loans from £1,000 to £25,000 over one to five years.

The amount you’ll be able to borrow and the rate you’ll be offered depends on your personal circumstances and credit profile.

Can I get a Santander loan with bad credit?

You’ll typically need a good credit score to apply for a Santander personal loan.

How do I contact Santander?

You can get in touch with Santander by:

  • Calling 0800 028 4055 (Mon-Fri 8am-8pm, Sat 8am-4pm)
  • Using the online chat via Santander’s website
  • Visiting your local Santander branch.

How do I apply for a Santander loan?

You can apply for a Santander loan online. You’ll need your address history, employer and banking details.

Applying for a loan can lower your credit score. So, before you go ahead with your application for a Santander loan it’s worth checking whether you’re likely to be successful. You can do this using our loan eligibility checker.

It uses a soft credit check to show you which loans you’re likely to qualify for, so won’t affect your credit score.

Can I pay off a Santander bank loan early?

You can repay your loan in full at any time within the term, by requesting a final settlement figure.

Santander won’t charge an early repayment penalty for paying your loan off early (though if you repay your loan early in full, you’ll be charged 30 days’ additional interest).