Santander Bank Loans

207 reviews

3% Representative

Will lend between: £1,000 - £20,000

Over: 12 - 60 Months

Representative example: Loan amount of £10,000 with a monthly repayment of £179.51 over a term of 60 months at a rate of interest per annum (fixed) of 3.0%. This is equivalent to 3.0% APR Representative. Total amount repayable is £10,770.60.

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Santander Bank Loans customer reviews.

207 reviews

1.6 out of 5 stars

15:29 08-07-2013
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Been with Abbey and then Santander for 22 years,Have had several Santander Loans over the years never defaulted never any problems with them.Applied yesterday for £5,000 and was refused!Apparently heir credit search said I was high risk...load of rubbish.


No problems
15:45 24-06-2013
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I have had 2 loans from santander with no problems at all, would get another one from them without hesitation if i needed one.


Avoid at all costs
03:51 28-09-2012
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Terrible customer service, agressive, unhelpful staff, the most simple of tasks like making an overpayment over the phone a total nightmare. Avoid at all costs


02:13 11-04-2012
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Santander are useless. i sent a cheque to them to settle a loan, with a cover note explaining the cheque and enclosed my contact number incase of any problems (iv had so many previous problems with Santander) they then 3 days later sent the cheque back with a note saying I need to clarify what loan i am trying to settle! i only have ONE loan! i have since been charged another direct debit which shouldnt have gone through becasue i sent the cheque back afew days before the DD was due. Sent a letter back to them with another 1st class stamp wasted, am yet to have the DD reversed and they are trying to charge me more money to settle my loan than the previous settlement figure. i would stay well clear from this bank they are useless and when you do phone up with a problem 9 times out of 10 its someone who doesnt speak great English and i end up getting frustrated explaining myself again and again until they understand what I am saying. i am in the process of making a complaint and writing to watchdog SANTANDER IS NOW THE MOST COMPLAINED ABOUT BRITISH BANK according to sky news and from my experience i dont see this changing any time soon.


Seems fine to me!
09:47 28-03-2012
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Have banked with Santander or Abbey as it used to be, for over 10 years. Applied online for a loan to consolidate some existing debts. After sending the application I received a pop up saying I would receive an email on a decision within 24 hours. One minute later I received an email saying my application had been successful and an offer would be in the next available post. Easy!


never again
09:36 21-01-2012
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customer service hard to get!. not a listening bank, tried to settle loan with their settlement fig; early, had letters to say balance 0. letters stating dd been cancelled by payer and need to reinstate?sent a complaint letter ,about the acc not confirmed closed., but they say acc is still open even thou they had all monies owing, ongoing complaint with all this. WILL NOT use santander again, have many acc with them at moment but will be closing and transfer elsewhere.

no name

18:16 30-12-2011
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Applied and received 2 e-mails saying would be contacted shortly by e-mail or post. That was 4 days ago and not had anything. Said would receive a decision in a few mins and nothing. Usless


No real answer
22:32 23-10-2011
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I applied online, thinking as I bank with Alliance&Leicester (now Santander) I would get a preferable decision. I got an email saying they had the application, then I got an email saying they would reply with an answer within 48hrs. I'm now around 60hrs past that point and haven't had a letter or email. I rang and was told it has been declined but given no reason. I earn a much higher than average wage and have very good credit (checked on equifax). I am waiting for the letter giving the details so I can dispute it as the first decision is often by computer so I'm told and can be overly critical. Wish I'd applied to Tesco instead...


16:16 04-10-2011
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i have applied for a loan with santander they sent me one email to tell me that they have got my application then i got another email that my application is being revied wot does this mean that they are reviewing it please can someone tell me


Horrific, Avoid at all costs
17:09 23-03-2011
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Took out a loan with Santander 2 years ago for £25000 over a 5 year period. Have paid around £610 every month since, never missed a payment. Went into a branch today to find out how much the settlement fee would be if I wanted to clear the loan. Bear in mind I've paid them around £15000 in the 2 years. They wanted £19,000!! to settle my loan! So of the £15,000 I've paid them, only £6,000 has been wiped off the debt, meaning £9,000 of the amount I paid back has been interest. Daylight robbery! I'm going to try and pursue it in anyway I can, but as a consumer, typically wont have a leg to stand on. Avoid at all costs, please learn from my mistake of using Santander.


Our review of Santander Bank Loans

Santander's interest rate is very similar to other high street banks, making it a cheap option for customers with good credit history. They also have similar criteria and want to make sure that customers can afford their monthly repayments by asking for a minimum gross annual income of £6,000 per year. Their online application is rather long, and once it is completed you will need to wait for them to send out the agreement in the post before signing and sending it back. So, if you’re looking for funds quickly, then you may need to reconsider.

Unlike other high street banks, you don’t need to be a Santander customer to apply for the loan, however if you have a 1|2|3 current account, 1|2|3 Credit Card or 1|2|3 Mini Account holder, then you could qualify for slightly lower rates and you’ll experience a different online application process. Early settlement is available if you have the funds, however you will need to pay the equivalent of 58 days’ interest to do so, so if you’re approaching the end of the loan then consider whether it’s worth it.

As with some of the bigger banks, their online reviews are less than glowing – they’ve achieved a 1.5 out of 10 score on TrustPilot. This is for all the finance products that Santander offer, not just the loans, however those that give negative reviews state that despite having a good income and credit history they are still being declined the loan. Their rating on Choose Wisely also reflects this dissatisfaction and some customers have found their communication with customers less than ideal.

Overall verdict: Existing Santander customers can benefit from even cheaper rates than advertised, so if you have good credit history and can afford the repayments then do speak to them about your options. One word of caution, if you need funds quickly then maybe look into alternatives as the postal element of their application can drag out the process.

Written by: Alex


  • Competitive representative APR
  • Customers can choose their own repayment date
  • No fees or charges for overpaying
  • Online management tool for an overview of your loan

Minimum criteria

  • You must be a UK resident
  • You will need to be aged 21 or over
  • You must have a bank or building society account with Direct Debit facility
  • You must have a regular gross annual income of £6,000 or more
  • No bankruptcy, CCJ or IVA within the last 6 years


  • Maximum APR 24.9%
  • Arrangement fee: £0
  • Early repayment fee: £0
  • Late payment fee: £0

About Santander Bank Loans

Santander offer personal loans between £1,000 and £20,000 that can be repaid over one to five years. Their representative APR is 3.4%, although personal circumstances, the amount borrowed and the length of loan term can affect the rate that you are offered if accepted for the loan. Existing Santander customers can borrow up to £25,000 and there are lower rates from 3.0% APR on loans from £7,500 to £25,000 for 1|2|3 World and Santander Select customers.

You will need to have good credit history to apply with Santander and you can’t have had a CCJ, IVA or been declared bankrupt in the last six years. Santander also want to make sure that customers can afford the loan, so they ask that applicants have a regular gross income of at least £6,000 per year.

The application is completed online and to make sure this goes smoothly you will need to provide a number of details such as your previous three years’ address history, employer details and your monthly incomings and expenditure. Within a few minutes of completing the application you should receive your loan decision and then the agreement will be posted out to you to sign and return. Following Santander receiving your completed documents it takes one working day for the funds to appear in your account.

Company information

Registration number: 02294747


2 Triton Square, Regent's Place, London NW1 3AN

FCA registration

Reference No: 106054

Trading names: Santander, Cahoot, Santander Corporate and Commercial Bank (SCCB), Santander Global Corporate Banking

Place of business: 2 Triton Square, Regent's Place, London NW1 3AN

Data protection registration

Registration No: Z8737433

Data controller: Santander UK PLC

Address: 2 Triton Square, Regent's Place, London NW1 3AN

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