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Santander: Loan reviews

Name: Loan
Rating: 2.45 (55 reviews)

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2.55

Based on 55 reviews, last reviewed 11th Mar 2025

100% increase in 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

27%

55%

Latest highest rating:

5

Quick and easy application approval. Quick and easy application approval. Bit fiddly to make overpayments Reviewed on: 11th March 2025

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 (55)

Review of the Santander, Loan:

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

Diabolical service - ATT: Vicki - In relation to Complaint 11349565

Last response with them below: I would like to raise a formal complaint against your department for the poor service I have received. I have spent hours on the phone following up with multiple people over the last month and been promised that I would receive the contract in 1-2 days each time I have called with no follow up whatsoever. I have just called in again and been told that the loan offer has expired. I sent the documents requested via post, I called in and you said you hadn't received it. I then sent them in the previous email to Vicky and your team. I then had to follow this up to make sure this was received and what was required. Since then, I have followed up on 3 separate occasions and been promised that I would hear from you with the loan contract in the next 1-2 days. You have wasted a month of my time only to allow the loan to expire when you had all the documentation you asked for. The fact that this is solely your responsibility and all you can tell me is that I should re-apply is disgusting customer service. Reviewed on: 22nd August 2022

Misleading low loan rate

Went for their loan at 2.8 %, get offered it at 13.9%. This was to combine some loans and lower payments to less than half my current monthly payment. So better affordability than my current situation. I bank with santander have an excellent credit record and yet 13.9 %. Obviously didnt take their offer and got a tesco one for 3.2 %. Needless to say will be moving my bank account as well if long as a ling term customer they are trying to rip me off. Reviewed on: 8th June 2022

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

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

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