Santander vs Scotiabank: personal loan
| Santander | Scotiabank México | |
|---|---|---|
| APR (CAT) | 45% | 46.5% |
| Amount | $8k–$500k | $10k–$400k |
| Term | 12–60 meses | 12–48 meses |
| Minimum income | $7,500 | $8,000 |
| What sets it apart | Frequent campaigns with reduced rate; good approval on medium profile | Canadian banking with multinational focus; integrated US/Canada network |
When to pick Santander
Santander wins on a 100% Mexican profile with payroll or well-documented external income. Modest APR gap (1.5 points) but frequent campaigns drop the effective rate 5-8 points several times a year. For Buen Fin and Anniversary, Santander unbeatable in this matchup.
When to pick Scotiabank México
Scotiabank wins if you have a USD or CAD account, recent residency in Mexico via North America, or frequent international flows. The frictionless multinational operations are worth the 1.5 extra APR points for that specific profile.
My recommendation
Standard Mexican: Santander, especially in campaign. North American connection profile: Scotiabank for the smoothness.
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.