On 07/07/17 I applied on-lline for a $12K unsecured, personal loan with. On 07/11/17 I got a call from my local branch informing me that I was approved. I closed on the loan on 07/13/17 and simultaneously opened a Simply Right checking and Santander savings accounts. The funds were deposited immediately after I signed the promissory note and made available for use. The loan terms are 60 months, 15.24% interest (lowered to 14.99% for auto payment withdrawal out of Simply Right checking account), $285.41 per month. I was told to return in 6 months to refinance the loan (apparently Santander refinances their own loans). There were no origination fees, closing costs or early pay off penalties--the entire $12K was deposited into my account.
The application process was really simple and quick. Santander pulls from Experian. I have done business with Santander in the past (the auto loan division, as they were the only institution that would finance my new vehicle post BK). Santander's auto loan terms were a bit outrageous (72 months, $578.00 per month, 17.75% interest), so after making 20 on-time payments I was able to join a credit union and refi with them. I'm not sure if having done business with them in the past played a part in my being approved for the loan or not, needless to say I am pleased. Now I can kill off some of the high interest debt that is weighing me down. At the time I applied my credit profile was as follows:
1BK (discharged 02/2012)
Credit card debt $16K (utilization 73% across 6 cards)
(PROFCU VISA $10K, CAP1QS $3.3K, DISCOVER $3.3K, BARCLAYS REWARDS $3k, OLD NAVY $2k, VENUS $750)
Personal Loan debt $13K (2 loans)
Student Loan debt $55K (currently deferred)
All 9 open accounts in good standing, with 100% on time payments
Average age on accounts 6yrs 8mos
Annual salary $110K
7/7/17 Vantage Scores: EX631, EQ647, TU641
7/7/17 FICO 8 Scores: EX675, EQ679, TU674
7/7/17 FICO 9 Scores: EX664, EQ678, TU682
Sorry to be so long winded, but I hope this review helps someone else. Good luck to all!