Santander Personal Loan
Good:
Competitive interest rates similar to the other banks - simple online application form and 24 hour decision
Bad:
They will try to push Payment Protection Insurance on you, you can probably find it cheaper elsewhere
Verdict:
Santander has a very bad reputation for their customer service - unable to carry out simple tasks and customers being passed from one representative to the next
Santander are offering personal loans between £1,000 and £20,000 for up to 5 years. You can use the loan for almost any purpose. They do offer Personal Loan Payment Protection Insurance also, but you are not obliged to sign up for it. If you do want Payment Protection Insurance, have a look around elsewhere as you may be able to get it cheaper.
You can apply online within minutes and they will give you a decision within 24 hours. Santander's interest rate it very similar to other high street banks which makes it a cheap option.
You can apply online using their online application form which only takes a few minutes. Within 3 working days of submitting your application, they will send you a letter explaining whether your application has been successful or not. If you have been successful, they will send you a credit agreement which you need to sign and return in the freepost envelope (along with any other documents they may ask you to provide). As soon as they receive it back, they will pay the money into your account.
You can also apply by calling them on 0800 028 4055 and they will run through an application with you. Another way of applying is by going into your local branch. If you do visit your local branch, make sure you take with you: Proof of ID, Income information (wage slips and bank statement), monthly outgoings information (mortgage, rent, utility bills, etc), bank details of where you want the money to go into, bank details of where you want the money to come out of, up to 3 years address history, details of you employers (name, time been there, address of), details of all your bank statements and credit cards.
Loan Calculator (Representative 6.7%APR)
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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.
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!
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.
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
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...
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
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.
My HSBC auto loan was transitioned over to Santander with ease. But the nightmare started when trading in my vehicle. The dealerships finance dept paid-off the balance and I had requested Santander to cancel my automatic payments. But Santander continued to charge me for a vehicle I did not own. Customer service people seem foreign-based, scripted, and very difficult to understand. They refused to help me until they received a fax of my bank statement and a written letter. Ultimately, I had to request a stop-payment with my bank and dispute it while incurring a fee from the bank.
Our account was taken over by Santander from Citifinantial Auto in September 2010. Since then I have never had such incompetent people to deal with. Every month the rules change and they don't know how to speak English. On top of that the are very RUDE!!! Never never take a loan from these people. I can't believe Citifinantial Auto would sell their loans to a incompetent bunch of terrible people like this. Something needs to be done about this company!!!!
Loans up to £20,000 - 5 years
- You must have a good credit history
- You must be at least 21 years of age
- You will need an e-mail address
- You must be a permanent resident in England, Wales, Scotland or Northern Ireland
- You must have a bank account/building society with direct debit facilities
- You will need to provide: all previous addresses from the last 3 years, your email address, your employer's address and postcode, details of your yearly income and monthly outgoings and your bank/building society account details
- Default Notice - £40.00
- Monthly Arrears Fee - £20.00
- Late Fee - £15.00
- If the agreement is for a term of more than one year, they may charge you one month's interest to cover the cost of setting up the loan
