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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:

Abysmal Support, Service and Communication

Locked out of account with no warning and told the only way to rectify is to call them. Called them but they wouldn’t talk to me as they told me my date of birth was not the same as that on my account. Absolutely mystifying considering I supplied a passport etc to open the account and I know the date I was born. This raises major concerns around whether they are complying with their anti money-laundering obligations as if they are not checking the detail of the ID’s provided when opening accounts then how are they verifying and transcribing the personal data contained therein? Where has the incorrect DOB come from? How was this verified by the bank’s internal processes and why has it not been simply checked and rectified against the existing data they already hold? What else have they got wrong and what could be the consequences? If they can’t get a DOB correct from simple documentation provided in support of opening an account, what on Earth are they capable of getting wrong? And not only this, but their shoddy internal practices do nothing to audit, verify or check they have appropriately complied with their legal obligations in transcribing/verifying the information provided. This is somehow left to the customer to do as a “third party that has failed security” by giving the correct information which they are unwilling to verify against their info. Had me questioning my sanity then their customer service constantly slopey shouldered me to various other departments (on hold for over an hour). Was told that they would not speak to me about anything (account, SAR, making a complaint, rectifying the issue with appropriate ID (passport I had to hand)) and that I should take time off to go to a branch to try and resolve it there. I have huge concerns over my personal data and how it is handled at Santander. The accuracy of the data is obviously incorrect and I have contacted the Financial Ombudsman and the ICO about the issue. Santander said that I was asking questions a fraudster would though I didn’t request absolutely any account information (I provided them all that on the phone (Including personal ID numbers, security numbers, pins) but again to no avail). I queried where I had agreed that a DOB (incorrect or otherwise on their system) was to be used as an access authorization given all of the other information I had to hand. I cannot understand how the DOB can possibly differ from the documentation I originally provided in setting up the account or why that data couldn’t be checked. They refused to check the account info against the ID used to set up the account for reasons unknown. Also refused to provide names of who I was speaking to or to take what I was saying seriously. I was only told that if I was locked out of the account (which I have never withdrawn from so it holds a very large sum of money) then I had either: > Entered the pin / passcode incorrectly three times (I have never used a passcode and only use a fingerprint for the app); or > A very large sum of money had been withdrawn from the account. .. I cannot ensure that there has been no fraudulent activity on the account because I have no way of accessing it but they have strongly suggested that my life savings may be gone. Makes for a fun day off work tomorrow trying to sort out their absolutely abysmal mistakes. They also said that it was unlikely that the branch will be able to resolve this kind of issue tomorrow! This is in a large ISA and this kind of ineptitude could potentially cost you a house! Totally dreadful. I cannot understand how banks can legally lock you out of your account without any form of communication (even a letter to the account holder or an email explaining that a password reset or similar is required). Instead I’m in the situation where I don’t know if I have lost all the money I own and I have had absolutely no help from Santander. Once resolved I will be closing this account. BEWARE. Reviewed on: 5th March 2020

Quick and easy application approval.

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

Very straightforward and fast process.

Very straightforward and fast process. Easy to manage through the app. Interest rate was in line with what was advertised. It was actually 2nd time I've used it, first time was a higher amount and had no issues with early repayment. Reviewed on: 26th February 2025

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 eligibility checker, and was then quoted 9.9%...higher, but still better than all other lenders. I did a complete application and received an email 10 mins later quoting a APR of 16.9%!! I have a perfect credit score and have banked with them for 8 years. Called to ask about this and was told to look out for a letter within the next week to confirm the APR. Letter received 2 days later with no info about APR whatsoever, just an activation code for this loan. Called again today and was told to wait up to 2 weeks for another letter which will tell me the correct APR percentage, but that I could accept the loan in the meantime, and they will honor the 9.9% I was originally quoted. Obviously I am not going to sign the contract and 'accept' a loan with an APR of 16.9% in the hopes that they will honor the lower amount. So I now either need to wait 2 weeks and hope for the best, or go with another lender and get another hard search on my file. Totally misleading and unethical as a bank. The repercussions of customers doing multiple credit checks seems to mean nothing to them. AVOID. Reviewed on: 24th January 2024

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 reduced payment. The extra money I'm saving on monthly repayments certainly comes in handy in this current climate. The loan was done on line quickly and securely and the loan was agreed and in my account within 5 days. The process was so easy. I would definitely recommend Santander for a loan and all banking needs Reviewed on: 1st August 2023

Easy and fast!

Amazing efficiency with my online application and so fast to both respond and then send me the money. This money was a big deal and it helped. Big thanks to Santander and I highly recommend this service if you bank with them. Reviewed on: 7th April 2023

Misleading interest rates!

I applied for a loan with Santander to consolidate some other debts I have. My Experian credit score is 999 (Excellent). Equifax and TransUnion scores are also in the excellent band, so I thought I'd have a high probability of receiving the advertised 5.9% APR. I submitted my application, which was accepted - but at the astronomical rate of 18.9% APR!!! This is almost credit card levels of interest, and was far higher than the current loans I have. As such, I have NOT taken them up on this outrageous offer. I've now got a hard search on my credit file which is not good. It seems Santander are taking advantage of people. If someone with an excellent credit score is being offered this rate, I'd hate to imagine what others would get. Their website states up to 26.9% could be offered. Daylight robbery if you ask me! Reviewed on: 30th March 2023

Hmm hamm

Jopabe j@gdk koajf hsjlpqgf_ddthui Reviewed on: 4th March 2023

Super rate

Great bank. It was very easy to get a personal loan. Reviewed on: 14th January 2023

Lost time, credit score and an opportunity because of them

Very upset, lost time and credit score on them. So, I did a personal loan application and got accepted. I signed the documents and was told through the process to wait for a letter with a code so that the money can be deposited. I waited for couple of weeks and nothing. I informed them and was told to apply for a new code on the site. I did that and still nothing and now the loan offer expired... So, damaged my credit score, lost about a month time and now they tell me to apply again... Awful and this will be the reason I am going to move my mortgage out the first chance I get. My case number: OLA1664177733098 Reviewed on: 27th October 2022

facist company

Fascist company, it's no wonder they don't allow posts on their page. They ignore complaints. My partner lost her apartment because of these "humans" they don't care about their clients, only about them self. I guess I wasn't Finnish enough because my income was not even asked for. Reviewed on: 8th September 2022

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