Car Loan  

To apply for your car loan, you need to be a Banco Santander customer and have a pre-approved loan limit. 

You have to be a resident of Spain and at least 18 years old. Regarding the maximum age, your age plus the loan term cannot exceed 80 years.

You also need an active multi-channel signature to apply for the car loan.

If you're not a customer or don't have a pre-approved loan limit, you can visit any branch to apply for the loan. 

Banco Santander offers this personalised financing product based on your history and loyalty with the bank. If you have a pre-approved loan limit, you'll see it when you log in to your Online Banking (web/app) or in the "Financing" section. All you need to do is complete a few simple steps to request the loan and accept the offer.

Just because a loan is pre-approved doesn't necessarily mean the bank will authorise it. If you choose to apply for the loan, the bank will carry out the relevant online checks. To verify that your solvency and repayment capacity haven't changed since the loan limit was pre-approved. We'll look at your debt level and solvency files, and once these checks have been carried out we'll either approve or deny the loan. All in the same online process, without any paperwork. 

Yes, you must be a Banco Santander customer and have a pre-approved loan to take out the car loan through the Santander website or app.

No, not all. As a customer of the bank, you can have a pre-approved limit without having your salary paid into your account. Neither will you have to provide a guarantee.

No, you don't need to arrange any other products to take out the loan.

However, we'll offer you the option of taking out Loan Protection Insurance to cover the outstanding principal in the event of death or disability, and the loan payments, within the contractual limits, in the event of unemployment or temporary disability. You choose the type of protection and how you want to pay for it, whether in a single annual sum or with the loan payments. 

You don't need to present any documents to apply for the car loan. The entire process is online and paperless because customers who have already undergone a prior credit check and have a pre-approved credit limit are automatically eligible to take out the loan.

So you don't have to show any proof of the purpose of the loan or any income or debts you may have.  

If you want to apply for a new loan through the website or app, you'll need to access the online banking platform and check if you have a pre-approved loan limit. If you do have a pre-approved loan limit, you can apply for a new loan.

If the system tells you that financing isn't available through these channels, you can visit any branch to apply for it and the bank will review its feasibility. 

The car loan has no arrangement or processing fees. You only pay the agreed interest, which will be clearly and transparently communicated before you take out the loan.

In the event of early repayment of the loan, a fee of 1% will apply if the period between the early repayment date and the loan maturity date is more than one year. If the period does not exceed one year, a fee of 0.50% will apply.  

The loan amount, if approved, is deposited into your current account immediately after signing the contractual documentation with your multi-channel signature. The entire process is online and paperless.

Yes, you can repay the loan in full or in part whenever you want.

In the event of early repayment of the loan, a fee of 1% will apply if the period between the early repayment date and the loan maturity date is more than one year and a fee of 0.50% will apply if the period does not exceed one year. 

In the event of nonpayment, you will be charged late payment interest and the costs associated with reporting and claiming outstanding debts, as detailed in the pre-contractual information and the loan agreement. A delay in making your payments may also affect your credit history for obtaining loans in the future and may lead to a legal claim.

If you anticipate difficulties, we recommend that you contact us as soon as possible. 

The loan payments will be debited automatically from your bank account on the first day of each month until the loan maturity date.

All payments will be equal, for the same amount, throughout the term of the loan, with the exception of the first payment, which will be only for the amount of interest generated from the date the loan is deposited into the account until the first day of the month following signature of the loan.

If you've activated alerts in your online banking, we'll notify you of the amount and the date it will be debited a few days in advance so you can make sure that you have sufficient funds to make your payments. 

Yes, you can exercise your right of withdrawal within 14 calendar days of taking out the loan to cancel the transaction. In this case, no cancellation fee applies; you'll only have to repay the amount borrowed plus the interest accrued for the number of days elapsed between the deposit of the loan into your account and your withdrawal request.

You can request a withdrawal through your online banking, at a branch or by calling Superlínea. You have 30 days from the withdrawal request to return the outstanding principal and pay any accrued interest.