Santander Loans Review
Santander Bank UK offer loans ranging from £1000 to £25000 with repayment period up to 60 months. Santander Bank offers a wide range of personal loans for a specific period of time that are paid through fixed monthly repayments with a fixed rate. They can go for up to 60 months.
There are so many reasons why a person would want to apply for a Personal Loan. It could be to buy a car, make home better, spend on a special occasion or even for debt consolidation.
Santander Personal Loans
They offer loans ranging from £1000 to £25000. For clients to apply for any loans above £20000, should to be a customer of the Santander Bank. The rates are 3.0% APR for loans that range from £7500 to £15000.
This applies to both the new and existing customers.
For the 1|2|3 World (a person who has one of the Santander’s current accounts or credit card) and Santander select customers, the rates are 3.0% for loans ranging from £7500 to £25000.
Santander offers loans that are for a period of one to five years and the maximum APR is 24.9%. A representative example: If the amount borrowed is £10000, a repayment of £179.51 on monthly basis, for a period of 60 months and an annual rate of interest of 3.0% will accumulate a total amount of £10770.60.
Qualifications to apply Santander Loans
After applying, they carry out a credit assessment of the circumstances. This is done through a credit search which might have an impact on the repayment period. After qualifying for a loan and completing al the processes, the money is paid into your account within 24 hours.
Those who can apply:
Anybody living permanently in the UK, 21 years and above
He or she has a bank or building society account that offers Direct Debit facilities
Should have a regular gross annual income that is not less than £6000
Anyone who has neither been declared bankrupt or had an IVA or a CCJ within the last six years.
Why Choose to borrow from Santander Bank
There are so many benefits of borrowing from this bank:
They offer loans for a wide range of personal needs
The repayment period is one to five years
The money is paid into your account within a short time
Borrowers can apply through an online process that is easy
They offer loans at a very low interest rate
Santander loans is one of the best choice when it comes to borrowing.