Sometimes the amount of money you’re earning is just not enough to meet needs that pop up, a Santander Loan can help you over the hump. In order to make sure you don’t get yourself into a financing spiral, it is best to figure out what your options are and decide what is best.
From managing your existing debts to pursuing your goals, financing services can definitely help you with your financial needs. Now, it is important to find the right financial institution that will cater to your needs with minimal risks. Santander provides a variety of programs for different situations. With different branches here and abroad, its financial products are definitely worth considering, but first you need to consider your own situation.
It’s a great idea to sit down and tally up what funds you have incoming, what is outgoing and the amount you need in between. Then decide what is most important to you when it comes to the loan; you can look at things like interest rates, payback terms, rewards and more. Our editors have looked into the Santander loans and come up with details you need to know. Read everything below before you decide whether on not a Santander Loan is right for you.
Santander Loans You Should Check Out
Santander Bank offers a variety of lending services for your current and potential customers. If you are interested in getting a loan for this bank, check out their offerings below.
The bank offers personal loans which you can avail for a variety of reasons. You can use it as a way to consolidate your debts, financing your projects and even for life events. This makes this offer the perfect choice for general financial needs, especially as it is collateral-free and without application or annual fees.
You can borrow from $5,000 to $50,000 as a lump sum, giving you the funds you need for your projects. You can choose a loan term ranging from two years or 24 months to five years or 60 months. The bank offers competitive interest rates combined with a rate discount when you choose to set up automatic payments from any checking account from the bank.
Individuals dreaming of buying a new house or refinancing their current ones should consider the bank’s mortgage offers. The bank will assist you in finding the right home loan for you. This is a great thing whether you are a first-time buyer or not.
You can choose among a variety of mortgage offers including Fixed-Rate Mortgage (up to $484,350 payable over 15 or 30 years), Adjustable Rate Mortgage, FHA and VA Loan Mortgage Programs and Home Construction Loans. Keep in mind that your loan will be based on the amount you will borrow.
Business Term Loan
If you are thinking of starting a business, Santander’s Business Term Loan is a great option. This caters to financing needs which requires longer terms. You can use this to acquire fixed assets or to refinance debts from other banks, as long as they come with fixed monthly repayments.
When you choose this option, you can borrow a minimum of $10,000, repayable over 3 to 7 years. As this has fixed interest rates, you do not have to worry about increased repayments when standard rates go up.
Business Owner-Occupied Real Estate Mortgages
Business owners who occupy commercial real estate can get a mortgage should they want to purchase, renovate or refinance the property. This can be used to acquire commercial real estate, improve or expand the existing building, or to refinance existing real estate loans from other banks.
With this option, borrowers can get a minimum of $25,000 repayable over 25 years. This can finance up to 80% of the price. However, keep in mind that you can only choose the lesser of two options: purchase price or appraised value.
Business Equipment Financing
Say, you have already established your business. However, you may need new equipment and vehicles. Santander’s Business Equipment Finance is the right option for you. This covers several types of vehicles and equipment such as medical, construction and agricultural.
The minimum amount you can borrow is $50,000 which you can repay over 3 to 10 years with low rates of floating rates, whichever you prefer. The best thing about this option is that you can use it to finance 100% of costs. It even covers taxes, freight, installation, software, training, and warranties as long as they are related to the equipment or vehicle you finances.
How to Contact Santander
If you’ve decided that one of the above-mentioned Santander Loans might be the answer for you, you will want to contact them. You can click here to link to the Santander website to get more information and apply for your loan. To know more, you can fill out the bank’s form or give them a call at 1-855-684-4968. Their head office is at 824 North Market Street, Suite 100 in Wilmington Delaware. You can also use the branch locator on their website to find a location near you.
There are risks involved when applying for and availing of a loan. Please see the bank’s Terms and Conditions page to know more.