Personal Loans | Santander Bank - Santander
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From consolidating debt to funding home improvements, we can help you make the most out of your loan with flexible terms and rates that work for you.
Check my rate
Won't affect your credit
| Rates as low as 6.99%* There are no fees* to apply or close. Plus you can easily apply in less than 5 minutes. | Pre-qualification with no impact to your credit Check your rate and available loan amount in minutes with no impact to your credit score |
Personal Loan features & benefits
Talk to a Specialist at 833-SAN-LOAN
8 a.m. – 5 p.m. Eastern Time, Mon-Fri
Check my rate
Won't affect your credit
Same-day funding†
Most loans fund within 2 business days.
Flexible terms
Loans from $5,000–$50,000 with flexible terms from 3–7 years for monthly payments that fit your budget
No fees
- No origination fees
- No closing fee
- No prepayment penalties
Rate discount
Save 0.25% on your rate when you set up automatic payments from any deposit account
We’ll take care of your needs
Consolidate credit card debt and other types of debt in days
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Remodel your home, make home repairs, or pay for moving costs
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Cover emergencies or unexpected medical costs
See how we compare
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Santander | Lending Club | Best Egg | Citibank | |
| Origination fees | $0 | 3.00%-6.00% | 0.99% - 8.99% | $0 |
| Flexible terms | 36 - 84 Months | 24 - 60 Months | 30 - 60 Months | 12- 60 Months |
| Loan amounts | $5k - $50k | $1K - $40K | $2K - $50K | $2K - $30K |
| Funds deposited same-day | Yes | No | No | Yes |
| Rates (APR) | 6.99% - 24.99% | 9.57% - 36.00% | 8.99% - 35.99% | 9.49% - 20.49% |
Open account comparison
This comparison is based on competitor information that was publicly available as of 06/01/2023. Competitor information is subject to change without notice.
There is no impact to your credit score prior to application, and no commitment necessary.
01 Check your rate
02 Easily apply online
03 E-sign and get your funds
Check my rate
Won't affect your credit
Talk to a Specialist at 833-SAN-LOAN
8 a.m - 5 p.m Eastern Time, Mon-Fri
Start our online application to check your rate. There's no impact to your credit score and no commitment necessary.
01 Check your rate
02 Easily apply online
03 E-sign and get your funds
Check my rate
Talk to a Specialist at833-SAN-LOAN
8 a.m - 5 p.m Eastern Time, Mon-Fri
The fast and simple way to get a Personal Loan
Meet Sophia
Sophia wants to consolidate her debt at a lower interest rate to save money. Learn how she uses EZApply to get a Santander Personal Loan quickly and easily.
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Sophia’s goals
Finances have become complicated. Sophia is juggling multiple credit card payments and is looking for a way to consolidate her debt into one low-rate payment.
How we can help
By entering a few details into EZApply, she can:
Check her rate with no impact to her credit score.
Apply and get approved on the spot.
Pay off debt directly upon approval.
Receive remaining funds in her account within one day.
For over 160 years, Santander Group has been helping clients prosper around the world. Today, Santander Group is one of the best capitalized banking institutions in the world with US $1.4 trillion in total assets under management. Santander Bank, N.A. is one of the largest retail and commercial banks in the U.S. Our growing network and globally connected roots are leading the way in financial services.
Learn more
FAQs: Personal Loans
Personal Loans are unsecured and do not require collateral like your home or other assets. How much you’re able to borrow will largely depend on your credit history and not your home’s equity or any other assets. When you are approved for a personal loan, you receive the funds in one lump sum and your interest rates are fixed for the life of the loan, resulting in a predictable monthly payment.
Paying interest is the cost of taking out a loan. Personal Loans have a simple, fixed interest rate on the principal of the loan.
Learn how much your monthly payments will be by checking your rate with EZapply or speaking with a Specialist at 833-SAN-LOAN. There is no impact to your credit score.
Santander personal loans have what’s known as a non-revolving credit limit, which means funds are borrowed as a lump sum (usually for a specific purpose) and must be paid back in monthly installments, according to a fixed schedule. A line of credit, on the other hand, follows a different model. It has a revolving credit limit, which means you borrow what you need up to a specified maximum amount (similar to a credit card), and repay only what you borrow plus interest.
One of the benefits is that there is no asset (car, house, etc.) acting as collateral against the borrowed funds, which simplifies the application process. Whether you need to consolidate debt, make necessary home or car repairs, purchase appliances, or pay for major expenses, a personal loan is there to help make your plans a reality with funds in one lump sum.
A Personal Loan is a great option to consolidate multiple debts into a single monthly payment. First, identify all the debts that you are interested in consolidating. Then apply for the total sum, or more, if you would like to have some left over for another purpose, letting us know all the debts you would like to consolidate into your loan. Once you are approved, the Personal Loan funds can be used to pay off your higher interest debts and consolidate into one loan with a single monthly payment, often at a lower rate than your multiple debts.
*Rates and Terms: Personal Loans are subject to individual approval and meeting our credit standards. Your primary residence must be located in AZ, CA, CT, CO, DC, DE, FL, GA, IL, IN, MA, MD, ME, MI, MN, MO, NC, NJ, NH, NY, OH, OR, PA, RI, TN, TX, VA, VT, or WA. The fixed loan Annual Percentage Rate (APR) will depend on your creditworthiness and use of automatic payments (ePay) from any deposit account. The APR on a Personal Loan will increase by 0.25 percentage points and the payment will increase, if ePayis not elected or is discontinued. Fixed loan APRs (with ePay) range from 6.99% to 24.99%. Loan amounts range from $5,000 to $50,000. Loan repayment terms range from 36 months to 84 months. APRs and other terms are accurate as of and are subject to change without notice. Personal Loans cannot be used to finance post-secondary educational expenses.
†Based on the time your application is received, same-day funding is available in many cases, depending on your creditworthiness and the funding instructions you provide.
Santander Bank, N.A. is a Member FDIC and a wholly owned subsidiary of Banco Santander, S.A. © Santander Bank, N.A. All rights reserved. Santander, Santander Bank and the Flame logo are trademarks of Banco Santander, S.A. or its subsidiaries in the United States or other countries. All other trademarks are the property of their owners.
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As a financial expert with a deep understanding of personal loans and the banking industry, I can provide valuable insights into the information presented in the Santander Bank article. My expertise is backed by a comprehensive knowledge of financial products, lending practices, and industry benchmarks.
Let's break down the key concepts mentioned in the article:
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Personal Loans at Santander Bank:
- Santander Bank offers personal loans with flexible terms and rates ranging from 6.99% to 24.99% APR.
- Loan amounts range from $5,000 to $50,000.
- The application process is quick, taking less than 5 minutes, with same-day funding available in many cases.
- There are no fees to apply or close the loan.
- Automatic payments from a deposit account can earn a 0.25% rate discount.
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Loan Features & Benefits:
- Loans have flexible terms, spanning from 3 to 7 years, allowing borrowers to tailor monthly payments to their budget.
- No origination fees, closing fees, or prepayment penalties are associated with Santander personal loans.
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Loan Comparison:
- A comparison with other lenders (Lending Club, Best Egg, Citibank) highlights Santander's competitive advantages, such as lower origination fees, flexible terms, and same-day funding.
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Use Cases for Personal Loans:
- The article suggests various use cases for personal loans, including consolidating debt, funding home improvements, covering emergencies, or unexpected medical costs.
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EZApply and Loan Process:
- The article introduces EZApply, Santander's streamlined application process.
- A hypothetical scenario featuring "Sophia" illustrates how a personal loan can be used to consolidate debt efficiently.
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Santander Group Overview:
- Santander Bank is part of the Santander Group, a well-capitalized banking institution with a global presence and $1.4 trillion in total assets under management.
- The bank has a history of over 160 years and is recognized as one of the largest retail and commercial banks in the U.S.
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FAQs and Loan Information:
- Personal loans from Santander are unsecured and do not require collateral.
- Loan approval is based on credit history, and the funds are disbursed in a lump sum with fixed interest rates for predictable monthly payments.
-
Rates and Terms:
- Specific details on rates and terms are provided, including the APR range, loan amounts, repayment terms, and the impact of automatic payments on APR.
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Legal and Contact Information:
- The article includes legal information, disclaimers, and contact details for those interested in learning more or applying for a personal loan.
In conclusion, Santander Bank's personal loan offerings are positioned as a convenient and competitive solution for individuals seeking financial flexibility, whether for debt consolidation, home improvements, or other financial needs. The bank emphasizes transparency, low fees, and a straightforward application process to attract potential borrowers.
