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What is a Personal Line of Credit?

Let a Personal Line of Credit help achieve your goals. Whether you need to make necessary home or car repairs, tuition payments or fund other major expenses, your Personal Line of Credit is there to help you do the things that matter.

Plus, you'll only pay interest on the amount of your Personal Line of Credit that you use, and no collateral is required.



  • Borrow from $5,000 to $35,000. No collateral required.
  • Competitive variable rates as low as 9.74% APR.
  • Interest rate discount on your Personal Line of Credit when you set up automatic payments from any Santander Bank checking account.
  • No annual fee for Santander Select, Premier or Premier Plus deposit accounts.
  • Access your line of credit easily via checks or online account transfers, up to your available credit limit.
  • Reuse your Personal Line of Credit as you repay it.

What Can a Personal Line of Credit Be Used For?

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Making necessary home repairs.

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Covering unexpected expenses, like car repairs or medical bills.

financing higher education


Financing higher education costs without drawing on your savings.

Monthly Payments on a Personal Line of Credit

Monthly payments on a Santander Personal Line of Credit with five-year draw period and five-year repayment period and our best rate of 9.74% APR1

Draw Amount Principal and
Interest Payment
Interest Payment
$5,000 $123.92 $40.58
$10,000 $247.83 $81.17
$20,000 $495.67 $162.33
Rates assume automatic payment from any Santander checking account.

How Does a Personal Line of Credit Work?

Wondering how much your payments might be with a Personal Line of Credit? You can run the numbers using these handy calculators:

Compare a Personal Line of Credit and a Personal Loan

  Personal Loan Personal Line
of Credit
No Collateral Required
APR Discount with Autopay from Any
Santander Bank Checking Account
Ongoing Access To Credit As You Need It  
Receive The Money In One Lump Sum  
Reuse As You Repay  
Predictable Monthly Payment  
Choice of Principal and Interest or Interest-Only Payments  
  Learn More Apply Now

May We Also Suggest?

1Rates: To get a Personal Line of Credit (“Line”) with the annual percentage rate (APR) shown, you must reside in MA, RI, CT, NH, NJ, PA, NY, DE, ME, VT, MD or DC, have or open a Santander checking account, and use automatic payment (ePay) from that account. You must also meet our highest credit standards. For new Personal Lines of Credit, your initial APR is based on the U.S. Prime Rate published in the Money Rates table of The Wall Street Journal (WSJ) on the date you sign the credit agreement. Thereafter, your APR may vary monthly and is based on the U.S. Prime Rate published in the Money Rates table of the WSJ on the first business day of the calendar month, plus a margin of 4.24% APR with ePay from any Santander checking account. Variable line of credit APR (with ePay) ranges from 9.74% to 18.00%, depending on your creditworthiness. Contact us for information about higher rates that may be available to applicants who do not meet those standards. Fees: An annual fee, if any, will be charged during the draw period in the first month after the account is opened and each year thereafter on the anniversary date. The amount of the annual fee will be $0, $25, or $50, based on the type of deposit account you have with Santander at the time the fee is assessed. Draw & Repayment Terms: The Line has a five-year draw period, during which you may obtain advances and elect either principal and interest or interest-only payments. Thereafter, no additional advances may be taken and line enters the five-year repayment period, during which you must repay principal and interest. Other Information: Line use is subject to the terms of the Personal Line of Credit Agreement, including terms that permit Lines to be suspended, reduced, or terminated in certain circumstances. The minimum Line amount is $5,000 and the maximum is $35,000. APRs and other terms are accurate as of 12/21/18, and may change thereafter. A Santander checking account is not required to qualify for a Line or Loan, but use of ePay from a Santander checking account will result in an interest rate discount. If ePay is discontinued, the interest rate will increase by 0.25 percentage points, and your payment will increase. Line accounts are subject to approval.

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