Santander Consumer Bank review

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

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Our verdict

Santander Consumer Bank, now Openbank Deutschland AG, lends in Germany to borrowers with employment or pension income and a clean Schufa record. Fixed rates from 2.99% to 11.98% over 12 to 96 suit people planning a car, kitchen or consolidation loan. The catch is no free early repayment.

Key facts

Best for
A fixed-rate German personal loan with a soft prequalification and a fast payout.
APR
2.99% to 11.98% (Source, checked September 26, 2026)
Loan amount
€1,000 to €75,000 (Source, checked September 26, 2026)
Term
12 to 96 months (Source, checked September 26, 2026)
Credit check
Soft prequal (Source, checked September 26, 2026)
Funding time
1-2 business days for the credit documents, then instant transfer to the account within seconds (Source, checked September 26, 2026)
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 % (Source, checked September 26, 2026)
Rate type
Fixed (Source, checked September 26, 2026)
Lender type
Direct lender (Source, checked September 26, 2026)
Free early repayment
No (Source, checked September 26, 2026)
Eligibility
Must be of age, have employment or pension income, and have no negative entries in the Schufa report (Source, checked September 26, 2026)
Loan types
Personal (Source, checked September 26, 2026)
Credit needed
Fair (Source, checked September 26, 2026)
Legal entity
Openbank Deutschland AG (formerly Santander Consumer Bank AG) (Source, checked September 26, 2026)
Headquarters
Germany (Source, checked September 26, 2026)
Founded
1957 (Source, checked September 26, 2026)
Support channels
Phone, Email, Help-centre (Source, checked September 26, 2026)
Pricing model
Fixed rate
Official website
santander.de

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
WikidataWikipediaLinkedIn

Pros and cons

Pros

  • Rates are fixed, so 2.99% to 11.98% holds for the whole term
  • A soft prequalification, soft prequal, lets you see an offer before a full search
  • Loans of €1,000 to €75,000 cover larger projects
  • Credit documents take a short wait, then the money lands in seconds

Cons

  • Free early repayment: no, so clearing the loan early carries a cost
  • At the top of the 2.99% to 11.98% range the rate nears the site median of 12%
  • Support runs on phone, email and help centre, with no branch network or live chat
Santander Consumer Bank

Ready to try Santander Consumer Bank?

Scored 9.2 / 10 by BorrowCue.

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Who it suits

  • Adults in Germany with employment or pension income and a clean Schufa record
  • Borrowers who want a fixed rate and a fixed monthly instalment
  • People who would rather deal with the lender directly than through a broker

Who should look elsewhere

  • Monzo Flex, if the 10% to 23% range suits your budget better than 2.99% to 11.98%
  • Cashspace, if a PHP 12 to PHP 36 comparison points to a cheaper route
  • Cashspace ES, if you would rather weigh a 0% rate first

Safety and regulation

Santander Consumer Bank lends directly rather than brokering, so the contract sits with the bank and the rate is quoted per application. The representative example sets out a net loan, a fixed rate, a set number of instalments and the total repaid, which makes the cost easy to check before you sign. Applicants need to be adults who draw income from work or a pension, and whose Schufa report is free of negative entries.

Who runs it

The lender behind the loan is Openbank Deutschland AG, formerly Santander Consumer Bank AG, based in Germany and operating since 1957. Questions on an application, on a disbursement or on a repayment plan all run through phone, email and help centre, so help is available by phone, by email and through the help centre.

How Santander Consumer Bank compares

Where Santander Consumer Bank is available

Available
Germany
Licence in Germany
Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), checked September 26, 2026
Licence in Germany
European Central Bank, checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What rate will I pay on a Santander Consumer Bank loan?+

Rates are fixed, so what you are quoted stays the same across the term. The published range is 2.99% to 11.98% for a personal loan, and the representative example shows a fixed rate with the effective annual rate and the total repaid spelled out.

How much can I borrow?+

Loan amounts run €1,000 to €75,000 depending on the product and your circumstances. That covers a used car, a kitchen, a car loan or a consolidation of existing credit, so the same product can suit very different plans.

How long can I take to repay?+

Terms run 12 to 96, so you can spread the cost over a shorter or longer window. A longer term lowers the monthly instalment but raises the total repaid, which is why the representative example is worth reading before you choose.

Will applying hurt my credit score?+

The check is soft prequal, which means a soft prequalification rather than a full hard search. You can see whether an offer looks likely before committing, though a formal application later still runs the usual checks.

Who can apply?+

Applicants need to be adults who draw income from work or a pension, and whose Schufa report is free of negative entries. A steady income and a clean credit file are what the lender weighs first, so anyone carrying a record of missed payments faces an early rejection.

How fast do I get the money?+

Credit documents take a few business days to arrive, then the transfer to your account happens within seconds. So the wait sits with the paperwork rather than the payment, and the first step is completing and signing the credit agreement.

Can I pay the loan off early without a charge?+

Free early repayment: no. Repaying ahead of schedule may cost you, so plan the instalments to match what you can afford each month. This is the term that puts Santander behind the more flexible rivals on this list.

Which company am I dealing with?+

The legal entity is Openbank Deutschland AG, formerly Santander Consumer Bank AG, based in Germany and operating since 1957. It is supervised in Germany, and help on an application or a repayment plan is available by phone, by email and through the help centre.

Sources

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Arrangement fee.

Santander Consumer Bank

Santander Consumer Bank

A fixed-rate German personal loan with a soft prequalification and a fast payout.

9.2/10See alternatives

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