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Santander Consumer Bank review

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

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Our verdict

Santander Consumer Bank, trading as Openbank Deutschland AG, is a German lender and bank for people who want a personal loan, a Visa debit card and easy-access savings together. Borrowing costs an APR of 2.99% to 11.98% over terms of 12 to 96, and the credit check listed is soft prequal.

Key facts

Best for
A fixed-rate personal loan with a soft prequalification check and easy-access savings on the side.
APR
2.99% to 11.98%↗
Currency conversion fee
1.85%↗
Credit needed
Fair↗
Card kind
Credit↗
Legal entity
Openbank Deutschland AG (formerly Santander Consumer Bank AG)↗
Headquarters
Germany↗
Founded
1957↗
Support channels
Phone, Email, Help-centre↗
Pricing model
Fixed rate
Official website
santander.de

Loans

Loan amount
€1,000 to €75,000↗
Term
12 to 96 months↗
Credit check
Soft prequal↗
Funding time
1-2 business days for the credit documents, then instant transfer to the account within seconds↗
Representative example
BestCredit: net loan 10,000.00 EUR, effective annual rate 7.27 %, fixed rate 7.04 % p.a., 84 months, 84 monthly instalments of 151.11 EUR, total 12,693.24 EUR; APR range 2.99 % to 11.98 %↗
Rate type
Fixed↗
Lender type
Direct lender↗
Free early repayment
No↗
Eligibility
Must be of age, have employment or pension income, and have no negative entries in the Schufa report↗
Loan types
Personal↗

Savings

Headline rate
0.3%↗
Minimum deposit
€0↗
Deposit protection
EU DGS up to EUR 100,000↗
Access terms
Daily availability, no notice period; payout only to the customer's own reference account; no direct third-party transfers↗
Monthly fee
€0↗
Account kind
Easy access↗

Debit cards

Card type
Debit↗
Card network
Visa↗

Facts checked September 26, 2026, 11 sources

Apps and profiles

Get the app
App Store
Elsewhere
WikidataWikipediaLinkedIn

Pros and cons

Pros

  • Credit checks are listed as soft prequal, so a quote can be seen before a full credit file search.
  • Borrowing is fixed rate, with loan amounts of €1,000 to €75,000 over terms of 12 to 96.
  • Savings are easy access with a minimum deposit of €0, covered by EU DGS up to EUR 100,000.
  • Support runs on phone, email and help centre, including a help centre.

Cons

  • Free early repayment is no, so clearing the balance before the end of the term can cost extra.
  • The savings rate is thin: a headline rate of 0.3% against a site median of 3%.
  • Currency conversion costs 1.85% on the Visa debit card, above the site median of 1%.
Santander Consumer Bank

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Scored 9.4 / 10 by SumCue.

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Who it suits

  • Adults in Germany with employment or pension income and no negative Schufa entries, which is what eligibility asks for.
  • Borrowers who want a fixed rate over terms of 12 to 96 and a soft prequalification check before deciding.
  • Savers who want daily access to a rate of 0.3% with a minimum deposit of €0.

Who should look elsewhere

  • People who want to settle a loan early at no cost, because free early repayment is no.
  • Savers chasing a top easy-access rate, since the headline rate of 0.3% trails the site median of 3%.
  • Anyone who needs to send savings to a third party's account, since payouts go only to the account you hold with the bank.

Who runs it

Santander Consumer Bank trades legally as Openbank Deutschland AG, a bank based in Germany and operating since 1957. The name changed from the former Santander Consumer Bank AG, so the entity name is worth checking on paperwork. Support runs on phone, email and help centre, which means a call, an email or a self-service help centre.

How Santander Consumer Bank compares

Frequently asked questions

What does a personal loan from this bank cost?+

The personal loan carries an APR of 2.99% to 11.98%, with amounts of €1,000 to €75,000 over terms of 12 to 96 at a fixed rate. The published representative example shows equal monthly instalments across the whole term, so the payment does not move once it starts. Credit documents are issued first, then the money is transferred.

Will applying for a loan hurt my credit file?+

The credit check here is listed as soft prequal, so you can see what you may qualify for before a full credit file search. Across the site, 20.1% of listings use soft prequalification, while 75% run a hard check. Eligibility also asks for a minimum age, employment or pension income and no negative Schufa entries.

How quickly does the money reach my account?+

Credit documents are sent out first, and the transfer to your own account follows within seconds, so the money lands quickly once approval is done. Only 30.8% of listings on the site advertise same-day funding as a headline feature, so this is quicker than most of what you will compare against.

Is my money safe in the savings account?+

Deposits sit under the deposit protection listed as EU DGS up to EUR 100,000. The account is an easy access account, so you can withdraw without giving notice, the minimum deposit is €0 and the headline rate is 0.3%.

What does the debit card cost when I spend abroad?+

The card is a debit card on the visa network, and currency conversion costs 1.85% under the published price list, above the site median of 1%. The current account it comes with carries a monthly fee of €0, so the everyday holding cost stays low.

Who can apply for a loan?+

Applicants must be adults with employment or pension income and no negative entries in the Schufa report. The lender places the credit bar at fair, which makes a fair credit record the starting point rather than a perfect one. The rest depends on your income and on the amount you want to borrow.

How flexible are the savings withdrawal rules?+

Money is available daily with no notice period, which suits easy access savers. Payouts go only to the account you hold with the bank, and there are no direct transfers to third parties, so gifts and shared savings need another route. With a minimum deposit of €0, you can start small and add as you like.

What support can I get after applying?+

Support runs on phone, email and help centre, so you can call, email or use the help centre. Around 74.4% of listings on the site offer phone support, so this sits at the common end of the range rather than standing out. A help centre covers the routine account questions in your own time.

Can I pay the loan off early?+

Free early repayment is no, so clearing the balance before the end of the term can carry a cost. That matches the 20.6% share of listings, while 79.4% allow early settlement at no charge. Factor that into the choice if your income might change.

Sources

Compiled from 11 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Annual fee, Rewards type.

Santander Consumer Bank

Santander Consumer Bank

A fixed-rate personal loan with a soft prequalification check and easy-access savings on the side.

9.4/10See alternatives