Banorte vs Santander: personal loan
| Banorte | Santander | |
|---|---|---|
| APR (CAT) | 42% | 45% |
| Amount | $10k–$650k | $8k–$500k |
| Term | 12–60 meses | 12–60 meses |
| Minimum income | $8,000 | $7,500 |
| What sets it apart | Strong industrial-corridor agreements; good approval for non-salaried with tax package | Frequent campaigns in Buen Fin and Anniversary with rate cuts |
When to pick Banorte
Banorte wins outside campaign windows. The 3-point APR gap on a 100K loan over 48 months is around 7,000-9,000 pesos less paid at the end. For non-salaried with SAT filings, Banorte approves with less friction than Santander. Monterrey corridor workers with Banorte agreement get preferential APR.
When to pick Santander
Santander wins in campaign — Buen Fin (November), Anniversary (May), Santander Week (several yearly) cut the rate 5-8 points. If you can wait for the promo, effective APR falls below regular Banorte. For Santander payroll, direct advisor offers sometimes match the promo without waiting.
My recommendation
No hurry and patience for campaign: Santander. Need the loan now or you're non-salaried: Banorte.
How we compare these two
The figures in the table — CAT, amount, term — come from each institution’s public rate sheet, not from us, and the commercial relationship never changes them. The «cheaper» verdict weighs the total cost for a standard profile; your own CAT depends on your Buró and income, so treat the numbers as a starting point and confirm the final terms on the lender’s site before signing. The order of offers across the site follows our published methodology.
Read the full editorial review of Banorte or Santander before deciding.