Paying interest is the cost of taking out a loan. Personal Loans have a simple, fixed interest rate on the principal of the loan. 
Learn how much your monthly payments will be by checking your rate with EZapply or speaking with a Specialist at 833-SAN-LOAN. There is no impact to your credit score. 

Santander personal loans have what’s known as a non-revolving credit limit, which means funds are borrowed as a lump sum (usually for a specific purpose) and must be paid back in monthly installments, according to a fixed schedule. A line of credit, on the other hand, follows a different model. It has a revolving credit limit, which means you borrow what you need up to a specified maximum amount (similar to a credit card), and repay only what you borrow plus interest.

One of the benefits is that there is no asset (car, house, etc.) acting as collateral against the borrowed funds, which simplifies the application process. Whether you need to consolidate debt, make necessary home or car repairs, purchase appliances, or pay for major expenses, a personal loan is there to help make your plans a reality with funds in one lump sum.

A Personal Loan is a great option to consolidate multiple debts into a single monthly payment. First, identify all the debts that you are interested in consolidating. Then apply for the total sum, or more, if you would like to have some left over for another purpose, letting us know all the debts you would like to consolidate into your loan. Once you are approved, the Personal Loan funds can be used to pay off your higher interest debts and consolidate into one loan with a single monthly payment, often at a lower rate than your multiple debts.