Unsecured Personal Loans | Debt Consolidation | Santander Bank - Santander

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When to Choose an Unsecured Personal Loan

When you consider getting extra funds to fulfill a personal financial need, a Personal Loan can come down to whether you have a specific need, know how much the cost will be, and want to receive the money in one lump sum.

A Personal Loan gives you the money in one lump sum and allows you to take up to 84 months to repay.1

Financing with an Unsecured Personal Loan

A Personal Loan is designed to help you meet a variety of personal financial needs. We offer loan amounts from $5,000 to $50,000 in one lump sum with the flexibility to take up to 84 months to repay.1

Here are a few ways you can use a Personal Loan:

debt consolidation
Debt Consolidation
You may have accumulated some debt in the past few years. When that debt is accompanied with a high interest rate, it can be difficult to pay it down. With a Personal Loan from Santander Bank you can consolidate this debt into one monthly payment with a competitive interest rate.
financing home improvements
Financing Home Improvements
Let’s say your kitchen appliances could use an update but you’re on a budget. You’ve done your homework getting cost estimates and now you know how much you’re willing to spend. With your new appliances in mind, you’ll know just how much you need to borrow.

Financing with an Unsecured Personal Loan

easy
Easy
There are no application costs or annual fees, and no collateral is required.
competitive
Competitive
Santander offers competitive rates, plus you can get a rate discount when you set up automatic loan payments from any Santander Bank checking account.1
diverse
Diverse
A Personal Loan can be used for a variety of needs. You can borrow from $5,000 to $50,000 and take up to 84 months to repay.1

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Finance expenses with a Home Equity Line of Credit (HELOC) from Santander Bank

Home Equity Line of Credit (HELOC)

You've worked hard to own your home. Now, let it work hard for you. A Home Equity Line of Credit (HELOC) can serve as a ready source of funds for many types of expenses.

  • Use your line of credit for almost any need, such as home improvements, debt consolidation or tuition payments.
  • Access your funds conveniently with a check or an online transfer up to your available credit limit.
  • Only pay interest on the amount of your credit line you use.


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*Based on the time your application is received, same-day funding is available in many cases, depending on your creditworthiness and the funding instructions you provide.

1Rates: To get a Personal Loan (“Loan”) with the Annual Percentage Rate (APR) and/or the maximum term shown, you must reside in MA, MD, RI, CT, NH, NJ, PA, NY, DE, ME, VT, FL or DC, meet our credit standards, and use automatic payments ( ePay ) from any deposit account. Fixed loan APRs (with ePay ) range from 6.99% to a maximum 24.99% depending on your creditworthiness. The minimum loan amount is $5,000 and the maximum is $50,000. The minimum loan term is 36 months and the maximum loan term is 84 months. The APR on the loan will increase by 0.25 percentage points and the payment will increase, if ePay is not elected or is discontinued. APRs and other terms are accurate as of  , and may change thereafter. Personal Loans cannot be used to finance post secondary educational expenses.

Loan accounts are subject to approval.


Personal Loan Monthly Payment Example

Monthly payments on a Santander Personal Loan with a 84-month term and our best rate of 6.99% APR.1

Amount

$5,000

$10,000

$20,000

Monthly Payment

$75.44

$150.88

$301.76

2National Average APR for a credit card as of 05/27/2021 (source: https://www.bankrate.com/calculators/credit-cards/credit-card-minimum-payment.aspx). Estimated using a credit card monthly payment, based on 3.00 % of outstanding balance, with a minimum of $15 (source: bankrate.com/calculators/credit-cards/credit-card minimum-payment).

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