When reviewing your application information, a Consumer Lending underwriter at the bank reviews several factors to assess whether you qualify for the loan or line of credit, including your credit score and the amount of debt you have compared to your total income. You must be at least 18 years old and a resident of one of the following states to apply for a Santander Personal Loan: MA, RI, CT, NH, NJ, PA, NY, DE, ME, VT, MD, or DC.
Filling out a loan application online takes approximately 10-15 minutes to complete.
Loan approval and funding can occur in as little as two days for Santander checking customers who provide a valid email address at application.2
Santander offers personal loans in amounts ranging from $5,000 to $50,000.
You may choose a loan term ranging from three years (36 months) up to seven years (84 months).
No, personal loans at Santander Bank are unsecured and do not require collateral.
You will need your social security number and basic employment and income information to apply for a loan. Once we receive the application, we will determine if any additional information is required.
No, Santander Personal Lending products have no origination fees, closing costs, or prepayment penalties.
During the application process, an underwriter will make a credit inquiry with one of the three credit bureaus, which could impact your credit score for up to two years. This “hit” is usually small, sometimes less than 5 points, and depends on how many other inquiries have recently been made. Beyond the initial credit inquiry, your credit score should not be impacted as long as you make your payments on time.
Loan approval and funding can occur in as little as two days for Santander checking customers who provide a valid email address at application.
To speak with a Santander Bank dedicated Loan specialist, call 1-833-SAN-LOAN Monday-Friday, 8 am-5 pm.