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Santander: Loan reviews

Name: Loan
Rating: 2.38 (53 reviews)

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2.38

Based on 53 reviews, last reviewed 24th Jan 2024

No new 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

26%

56%

Latest highest rating:

5

Cheapest Loan I Found I took out a Personal Loan with Santander which was an excellent offer at a great interest rate. It enabled me to consolidate my debts giving me a red... Read more Reviewed on: 1st August 2023

Latest lowest rating:

1

Hugely misleading APR% My bank is Santander and I checked how much APR a loan of 7k would be for a new car with them - was quoted 7.5% preliminary. Went through the eligibil... Read more Reviewed on: 24th January 2024

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About this product

Santander personal loan reviews on Smart Money People are honest reviews. If you're trying to determine whether this is the right personal loan for you, reading our Santander personal loan reviews can help you to find out what other people have to say. Smart Money People launched in October 2014 to help people like you to find the best personal loans. If you have used a Santander personal loan, we'd love you to write a quick review too.

Santander Loan reviews (53)

Review of the Santander, Loan:

Great Rate

£10,000 loan at a very low rate... Reviewed on: 4th April 2017

Waited 6 weeks and still no money

Customer service is terrible, had loan agents actually shouting down the pone at me for asking for an update. when they eventually realised they had made a mistake it took them 2 weeks to do anything about it! They treat you like a mushroom and lie constantly what is worst applying destroys your credit so you can't get a loan anywhere else! I would avoid unless your a masacist Reviewed on: 25th May 2022

Loyalty counts for nothing

After banking with this company for over thirty years and never missing a payment on my loans , credit cards or mortgage I applied for a loan on the 11th May and i am still waiting for a decision on this. In the meantime I applied for the same loan over the same period and for the a very similar interest rate with a reputable company who i have never used before and was accepted immediately. It is now the 21st May and I am still waiting for a decision from Santander. Reviewed on: 21st May 2022

No one at home. Just robotic answerphone messages

Four telephone attempts to report missing credit card. Long wait so gave up twice. Third attempt hung on for 20 minutes and then cut off. Tried Robot chat but just tells me to go to mobile app Tried mobilecapp several times but the link to report missing credit card keeps coming up with error messages. Determined not to speak to customers. Going to branch now (not hopeful) and leaving someone with dementia alone. Meanwhile any thief will be having a field day. Minus 10. Reviewed on: 20th May 2022

They cannot be serious

Made a payment. Revceived phone call from Santander, I assume to check the payment was OK. Good. After 30 minutes I was told to phone the number on which I had been wating for thirty minutes because there was no one on the line to speak to me. Despite the idiocy of phoning a line on which I was told there was no one to answer my call, I did as instructed and end up waiting for another 20 minutes, listening to the endless message that "my call was being transferred to the next available team member". Unbelievable. Is this a real bank? Reviewed on: 12th May 2022

Appalling

Tried ringing customer service after a 45 minute wait I did not know my online details as I do not use it the lady with poor English said ring back later. What would have changed I do not know my any details then she said go to my local branch but they have shut my 2 local branches. Reviewed on: 10th May 2022

Better things to do with my time

Applied for loan after being offered a 2.9% interest rate they carried out a soft search and advised me I’d been excepted with my expectancy was at the rate I applied for. I then filled in a full application and received an email not long after stating I had been accepted and the paperwork is on its way. But then I noticed it was not the 2.9% offered but that of a much higher rate of 16.9% which increased the monthly payments by £50 per month. This is with myself having a good credit score and no defaults or black marks against me!!!! So don’t get excited if you apply and get excepted until you see the actual interest rate they offer!!!! DIABOLICAL AND SHOULD BE A LAW AGAINST R.I.P. OFF MERCHANTS LIKE THEM!!! Reviewed on: 2nd May 2022

Reels you in with a low rate, then doubles it after a hard credit search

I was quoted 2.8% APR through ClearScore for a Santander loan. After I completed my application and went through a hard credit search, they accepted my application and quoted me 5.9% APR! I then got a quote and approval from Lloyds Bank at 2.9% APR without a even hard search beforehand for my personalized guaranteed quote. Avoid Santander loans - they'll reel you in with a good rate and double it after you complete your application with the hard credit search. Reviewed on: 28th April 2022

Offer low interest rate then hike it upon application

I was offered 15k at 2.8% APR when given the calculation on their website. Upon application however this was hiked up to 10.9%! The 4 fold increase could not be explained as i have a good credit rating and financial history. I believe their advertising to be dishonest and their promises such as "When we advertise a Representative APR this is the rate that we must give the majority of accepted customers on loans within the promoted tier” to be a lie. Reviewed on: 6th April 2022

Submit your application and then nothing....

When you apply online for a Santander loan, they expressly commit to letting you have a decision within 2 working days. I applied a week ago and so far nothing. Reviewed on: 25th March 2022

Waste of time

Despite appearing you’ll get an instant reply, one you completed the application it tells you that you’ll receive an email in 24 hours of the outcome. Then you’ll receive paperwork to be signed off accepted in the post. Given the online nature of everything this surprises me. Rather than waiting this 24 hours and by previous reviews where they hike the apr I went direct to my bank First Direct. Within 5 minutes of clicking the money was in my bank! Santander need to up their game! I only wish I’d seen these reviews before I applied. Reviewed on: 19th November 2021

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