Santander offer new lower online-only rates for personal loans

Santander is to make changes to its rates for unsecured personal loans available via its own website.  These rates are available to new and existing customers and are effective from 09:00 on Friday 8 April 2011.

New rates on Santander.co.uk

£1,000 to <£3,000 18.9% (no change)
£3,000 to <£5,000 15.9% (no change)
£5,000 to <£7,500 8.6% (down from 9.9%)
£7,500 to £10,000 7.4% (down from 8.9%) representative APR
£10,001 to £14,950 7.9% (down from 8.9%)
£14,951+ 9.9% (no change)

Richard Al-Dabbagh, head of Santander loans, said: "Santander is helping to lower the cost of borrowing by reducing our loan rates by up to 1.5 per cent.  This could save customers over £400 on a loan of £10,000 over five years."