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Banco Santander review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Banco Santander suits households in Spain that want everyday banking with nothing to pay and a direct route to a personal loan or a fixed mortgage. The current account carries a monthly fee of €0, the personal loan runs at an APR of 4.84% to 12.11%, and the same bank handles both.

Key facts

Best for
Fee-free Spanish everyday banking with a mortgage and personal loan under one name.
Monthly fee
€0↗
Card type
Debit↗
Legal entity
Banco Santander, S.A.↗
Headquarters
Spain↗
Founded
1857↗
Support channels
Phone, Email, Help-centre↗
Features
Same-day funding
Official website
bancosantander.es

Loans

APR
4.84% to 12.11%↗
Loan amount
up to €80,000↗
Term
up to 96 months↗
Arrangement fee
0 EUR↗
Credit check
Hard↗
Funding time
Immediate into your current account after signing, online, in seconds↗
Representative example
Loan of 17,000 EUR over 8 years, TIN 4.74%, TAE 4.84%, opening fee 0%, monthly instalment 213.12 EUR↗
Rate type
Variable↗
Lender type
Direct lender↗
Free early repayment
No↗
Eligibility
Residence in Spain, minimum age 18, age plus loan term not exceeding 80; must be an existing Banco Santander customer with a pre-approved limit and an active digital signature↗
Origination fee (%)
0%↗
Loan types
Personal↗
Pricing model
No monthly fee

Savings

Headline rate
0%↗
Deposit protection
EU DGS up to EUR 100,000↗
Access terms
Non-remunerated current account, no maintenance fee and no conditions, no lock-in or penalisation↗
Account kind
Easy access↗

Mortgages

Initial rate
2.96%↗
APRC
3.65%↗
Fixed period
0.5 years↗
Maximum loan to value
80%↗
Product fee
€0↗
Purpose
Purchase, First-time-buyer↗

Credit cards

Card kind
Credit↗

Facts checked September 26, 2026, 13 sources

Apps and profiles

Get the app
App Store

Pros and cons

Pros

  • The current account has a monthly fee of €0, no conditions, and no penalisation for closing.
  • Deposits sit under EU DGS up to EUR 100,000, so a failure is handled by the scheme rather than the bank.
  • The fixed mortgage starts at 2.96% with an APRC of 3.65%, aimed at purchase and first time buyer.
  • Support runs on phone, email and help centre, giving a phone line, an email route and a help centre.

Cons

  • The headline rate is 0%, so balances earn nothing and the account is a place to spend rather than save.
  • The personal loan charges for early settlement, since free early repayment is listed as no for this product.
  • Loan access is limited to existing customers with a pre-approved limit and an active digital signature, and the credit check is hard.
Banco Santander

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Scored 9.6 / 10 by SumCue.

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Who it suits

  • Residents of Spain who want a current account, a debit card and a mortgage under one name, with no monthly charge.
  • Borrowers who already bank with the bank and can accept a hard credit check against a pre-approved limit.
  • Anyone starting out on the property ladder, since the fixed mortgage carries a product fee of €0.

Who should look elsewhere

  • Wise, since Banco Santander serves residents of Spain and holds everything in a single market.
  • Varo Believe Secured Credit Card, which also has a $0 monthly fee, so the difference is the account and the Spanish borrowing range rather than the cost.
  • Starling Personal Account Debit Card, also at £0 a month, if you bank in the UK and need neither a Spanish account nor a Spanish mortgage.

The company behind it

The account is issued by Banco Santander, S.A., headquartered in Spain and founded in 1857. A bank of that standing matters when you are putting money aside or applying for a fixed mortgage through the same name. Support runs on phone, email and help centre, so help comes by phone, by email and through an online help centre.

How Banco Santander compares

Where Banco Santander is available

Available
Spain

Countries from the brand (Source, checked September 29, 2026)

Frequently asked questions

What does it cost to run the Banco Santander account?+

The current account carries a monthly fee of €0. The bank describes it as a non-remunerated account with no conditions, so there is nothing to keep up, and no lock-in or penalisation if you close. The account model is listed as no monthly fee.

Will I earn interest on money left in the account?+

No. The headline rate is 0% and the rate type is variable, so the balance pays nothing. Treat the account as a place to hold everyday money and spend from it rather than as a savings product, and look elsewhere if this balance is where your savings sit.

Is my money protected if the bank fails?+

Deposits are covered by EU DGS up to EUR 100,000, which is the scheme named for the account and the limit it applies. That protection sits with the deposit guarantee arrangement rather than with the bank itself, so a failure would be handled by the scheme within its stated limit.

What card comes with the account?+

The card linked to this account is a debit card, and the bank also issues a credit card for borrowing. Spending draws straight from the current balance, so the everyday account carries no separate bill to repay on the card itself.

How much can I borrow, and at what cost?+

The personal loan runs at an APR of 4.84% to 12.11%, with amounts of up to €80,000 and terms of up to 96. The opening fee is 0 EUR and the credit check is hard, so a decision rests on your file and on an existing relationship with the bank.

How quickly does the borrowed money arrive?+

Once you have signed, the payout lands in your current account, and the whole application runs online. same day funding is the feature listed for the loan, so speed of funding is part of what the bank sets out to sell.

Can I pay the personal loan off early?+

Free early repayment is no on this personal loan, so settling the debt before the end of the up to 96 term carries a charge rather than a rebate. Borrowers who expect to clear the balance early should weigh that against the 4.84% to 12.11% APR before applying.

Can I take a mortgage from the same bank?+

Yes. The fixed mortgage opens at an initial rate of 2.96% with an APRC of 3.65%, a product fee of €0 and a fixed period of 0.5, aimed at purchase and first time buyer borrowers. Maximum loan to value is 80%, so the largest borrowing needs a larger deposit.

How do I get help, and who do I deal with?+

Support runs on phone, email and help centre, so help comes by phone, by email and through an online help centre. direct lender lending also means questions about the loan go to the same bank that holds the current account rather than to a broker or a marketplace.

Sources

Compiled from 13 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Currency conversion fee, Free ATM withdrawals, Protection.

Banco Santander

Banco Santander

Fee-free Spanish everyday banking with a mortgage and personal loan under one name.

9.6/10See alternatives