Santander personal loans feature
- Borrow from £1,000 to £20,000
- Repayment periods of 1 to 5 years
- No arrangement or set up fee
To be eligible for Santander loans you must
- Be at least 21 years old
- Permanently live in the UK
- Have a regular income of at least £6,000 a year
- Not have been declared bankrupt, had a CCJ or IVA in the last 6 years
- Not be intending to use the loan for the purchase of property or land, payment of utility bills, payment of tax demands, gambling or to fund any illegal activity.
Santander loan calculator
If you are interested in Santander loans, then you may wish to use the Santander loan calculator to get an indication of how much a personal loan from them might cost you. You just need to enter how much you would like to borrow and set your desired duration of the repayment period; the Santander loan calculator will then generate an estimate for you using the lenders Representative Annual Percentage rate for a loan of that size.
It is important to consider however that if you proceed and apply for a Santander loan and you are accepted they may offer you a different APR and hence the amount you are expected to repay is different. This is because a lender may tailor the APR they are willing to offer a borrower once they have reviewed their credit score and other financial information.
Before you apply for a loan
Before you take out a loan it is a good idea to shop around and compare the market to try and find the most suitable choice for you. Consider what features are important to you, remember that there is a diverse range of loans available from a variety of lenders. You could use the comparison tables above to look at loans from various providers.
You may also want to consider alternative options to borrowing. For instance if you already have the required funds in your savings you may wish to consider using these instead, it might be that any interest you earn from your savings would be less than the rate of interest you would be charged on a loan of the same size.