Santander personal loan is ‘excellent’ | Product News - Moneyfacts

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Santander personal loan is ‘excellent’

Santander personal loan is ‘excellent’

Category: Loans
Date: 23/03/2015

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Santander has amended the rates on its personal loans by up to 0.3% APR. However, despite some increases, all the tiers of its open-to-all personal loan have remained competitive, earning an 'excellent' review.

The basics…

A personal loan of £1,000 to £2,999 now has an increased APR of 21.1% while a loan of £3,000 to £4,999 has a rate of 14.1% APR. A loan of £7,500 to £20,000 has a new APR of 4.7%.

Meanwhile, a loan of £5,000 to £7,499 had its APR reduced by 0.1% to 5.1% APR.

All loan amounts are available over a term of one to five years.

The finer details…

Example monthly repayments: £5,000 over three years = £149.91.

Borrowers must be over 21 and have an income of at least £5,000 per annum to apply. Applications can be made in branch, over the phone or online.

Borrowers should remember that all rates depend upon their credit rating, loan amount and the term chosen.

Why we like it…

Although the majority of these tiers have witnessed a rate increase, all remain competitive in their sector. As a result, borrowers are still likely to show an interest in these offerings.

Moneyfacts rating: Excellent

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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