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."
