You have probably already come across Banco Santander at some point in your financial life, such as in cards, bank accounts or investment platforms.

But what about Santander personal loans? The bank in question has a fairly extensive list of these credit services.

And throughout this article, we evaluate exactly what the personal loan in question is, so don’t miss any details of this article, as it is very complete.

Why we recommend Santander personal loans

Santander Bank is a financial institution with a very large number of customers, and with so many users, there is a concern with the construction of credit products and services and with satisfaction.

This does not only involve the advantages present in each financial institution, but also in terms of customer support.

Therefore, in case of problems, you can receive a response quickly, so that the problem does not develop into something more serious.

The request also ends up being carried out in a considerably practical way, where the financial institution will be able to provide a dynamic step-by-step process.

Everything is done through the financial institution’s official website or the bank’s official app, which is quite attractive for those who hate wasting time.

Now, as far as the loan features are concerned, this is a very versatile alternative, which allows for an infinite number of uses.

Therefore, the trademark of the personal loan in question is present, being precisely an alternative for those who are concerned about performance.

What can I use a Santander personal loan for?

As we mentioned earlier, it is always difficult to talk about exactly how the loan in question can be used.

Well, with so many alternatives, great ways of using it are left out, but we can mention some of the most common applications for this type of credit service.

In general, it can be used for purposes such as financing studies, high-value purchases or entrepreneurial expenses.

Apart from all these forms of use, in practically any application where 25 thousand Euros are useful, it will be possible to make good use of this financial product.

So, think a little about how exactly this amount could be useful to meet your credit needs.

Certainly with a little creativity and good planning, many applications for the Santander personal loan will come to mind.

Advantages and disadvantages of Santander personal loans

Whether it’s a personal loan, credit card or any other type of financial product or service, the benefits have always gone hand in hand with the advantages.

Which means that during the analysis we must think carefully about how these two characteristics might end up being used.

Both so that we don’t miss out on the advantages, and so that any disadvantages don’t end up catching you by surprise and ruining your experience.

Therefore, we have selected some of the most important points and below, you will discover which points to take care of and what benefits are within your reach.

Advantages of Santander personal loan

Below we will show you the strengths of the Santander personal loan, keep this in mind when submitting your credit application:

• Values ​​up to 25 thousand Euros
• Payment in up to 5 years
• Loan management application 
• Installments that fit your pocket
• Interest rate of 6% per year
• Versatility in usage modes
• Fully remote request

Disadvantages of Santander personal loan

Until now, you may have created the impression that this is a perfect loan, and although it is considered a good alternative, it is far from being immune to disadvantages.

With one of the main points to be highlighted regarding the disadvantages being how difficult it can be to get this request approved.

Even when compared to loans that offer the same amounts and an identical installment term, there is still an extra strictness to the Santander personal loan.

The reason for this is simpler than you might think, and is due to the very low interest rate on the credit card in question, which makes all the difference.

How is the credit analysis done for the Santander personal business loan?

Although it does not have an absurdly high value, elements such as the interest rate of this loan are very attractive, which ends up making the analysis difficult.

Therefore, it is important that you make the request knowing that the credit analysis is very rigorous, being responsible for a large part of rejections.

Despite the rigor, there is no need to rack your brains trying to understand exactly how the analysis process occurs, as everything follows the same direction as most credit products and services.

In other words, Banco Santander checks two factors, the first being each user’s credit score, followed by a survey of their financial history.

Is there a maximum and minimum amount for a Santander personal loan?

There are many loans, with each alternative presenting a completely different configuration, so it is always important to highlight the loan amounts and terms.

Regarding the loan application in question, it is possible to request credit from 1,000.00 Euros, however, the maximum amount is $25,000.00 Euros.

This is considered a very flexible value, despite only covering short and medium-term applications, leaving large applications out of the list.

With these amounts, it ends up being essential to have a good credit limit, so that you don’t end up facing installments that are impossible to pay.

Therefore, Banco Santander has made a personal loan available to its users, which can be paid in installments over up to 5 years.

Want to apply? Learn how to get a Santander personal loan right here!

In the next article we will show you exactly how you can apply for a Santander personal loan, click on the button below and learn how to become one of the winners.