Santander browser compatibility

Personal Loans

A Personal Loan allows you to borrow from $5,000 up to $25,000 with no collateral required, no annual fee and repayment terms of up to 60 months. Whether you want to purchase new kitchen appliances, cover educational expenses or pay for a dream wedding, a Personal Loan gives you your funds in one lump sum.

A Personal Loan is perfect if you have a one-time need and want to borrow a specific amount. A Personal Loan also offers you great benefits such as:

  • Competitive rates
  • Predictable monthly payment
  • No collateral
  • No application fee
  • Rate discount when you have payments automatically deducted from any Santander checking account

Depending on your needs, you can apply for either a Personal Loan or a Personal Line of Credit at Santander. For help deciding which is best for you, use the simple chart below. We're here to help!

  Personal Loan Personal Line of Credit
Type of Account Installment loan with fixed term Revolving line of credit
Ideal for Customers who need a lump sum and want the stability of a predictable rate and payment Customers who want ongoing access to credit as they need it
Interest rate Predictable rate, as low as 6.99% APR*, for qualifying applicants with automatic payment from any Santander Checking Account Variable interest rate, currently as low as 7.49% APR**, for qualifying applicants with automatic payment from any Santander Checking Account
Term We offer several fixed repayment terms up to 5 years. Select the one that suits you best 60 month draw period, followed by 60 month repayment period
Collateral requirement No collateral required No collateral required
Closing costs No closing costs No closing costs
Loan/Line Amount Available $5,000-$25,000 $5,000-$25,000
Monthly payment

Predictable monthly payment amount
"Principal and Interest" option only

Payment amount can change monthly
"Principal and Interest" or "Interest Only" options
Access to funds One-time, lump sum disbursement By check or online transfer


Apply Now

*To get a Personal Loan ("Loan") with the APR shown above, you must reside in MA, RI, CT, NH, NJ, PA, NY, MD, DE, ME, VT or DC, meet our highest credit standards, and use automatic payment (ePay) from a Santander Bank N.A. checking account. Loan APRs (with ePay) are 6.99%, 8.99%, 10.99%, 12.99%, or 14.99%, depending upon your creditworthiness. Payment examples on a $10,000 Loan for 60 months at an APR of: 6.99% is $197.96; 8.99% is $207.53; 10.99% is $217.37; 12.99% is $227.48; or 14.99% is $237.85, respectively. The minimum Loan amount is $5,000 and the maximum is $25,000. 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 April 1, 2015 and may change thereafter. A Santander checking account is not required to qualify for a Loan. Loan accounts subject to approval.


Rates: To get a Personal Line of Credit ("Line"), you must live in MA, RI, CT, NH, NJ, PA, NY, MD, DE, ME, VT or DC and use automatic payment (ePay) from any Santander checking account. If ePay is discontinued, the interest rate will increase by 0.25 percentage points and your payment will increase. You must also meet our highest credit standards. Ask about higher rates that may be available for applicants who do not meet those standards. The Line Annual Percentage Rate (APR) may vary monthly based on the latest U.S. Prime Rate published in The Wall Street Journal as of the first business day of the month, plus a margin of 4.24% (now 7.49%). The minimum Line APR is 6.49% and the maximum rate is 18.00% APR. Fees: $50 annual fee. The fee is assessed in the first month after the account is opened and each following year on the account anniversary date during the draw period. The fee will be waived if you have a Santander Select or Premier checking account at the time the fee is assessed and will be reduced to $25 if you have a Preferred checking account. Preferred Plus Checking account customers will be assessed the standard $50 fee. Draw & Repayment Terms: The Line has a 5-year draw period during which you can obtain advances and elect either principal and interest or interest-only payments. Thereafter, no additional advances may be taken and the Line will enter its 5-year repayment period during which you must repay both principal and interest. Other Information: Line use is subject to the terms of the Personal Line of Credit Agreement, including terms that permit Lines to be suspended, reduced or terminated in certain circumstances. The minimum Line amount is $5,000 and the maximum is $25,000. All information is accurate as of April 1, 2015 and is subject to change. Line accounts are subject to approval.