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Good3.9(24 ratings)

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Reviewed by: yellowtulip

The Sainsbury's loan is a competitive rate (9.7% for me), was easy to apply for and the loan documentation was...

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Compare Sainsbury's Bank Loans

Sainsbury's Bank 1-5yr Medium Loan for Non-Nectar Customers
Loan amount
£7,500 to £15,000
Representative APR
3.4% APR (£7,500 to £15,000)
Loan term
1 year to 5 years
Representative Example: The Representative APR is 3.4% APR (fixed) so if you borrow £10,000 over 5 years at a rate of 3.4% p.a. (fixed) you will repay £181.24 per month & £10,874.40 in total.
Sainsbury's Bank Small Loan for Non-Nectar Customers
Loan amount
£5,000 to £7,499
Representative APR
4.3% APR (£5,000 to £7,499)
Loan term
1 year to 5 years
Representative Example: The Representative APR is 4.3% APR (fixed) so if you borrow £5,000 over 5 years at a rate of 4.3% p.a. (fixed) you will repay £92.57 per month & £5,554.20 in total.
Sainsbury's Bank Large Loan for Non-Nectar Customers
Loan amount
£15,001 to £25,000
Representative APR
4.8% APR (£15,001 to £25,000)
Loan term
2 years to 7 years
Representative Example: The Representative APR is 4.8% APR (fixed) so if you borrow £20,000 over 5 years at a rate of 4.8% p.a. (fixed) you will repay £374.66 per month & £22,479.60 in total.
Sainsbury's Bank £25k+ Loan for Non-Nectar Customers
Loan amount
£25,001 to £35,000
Representative APR
6.9% APR (£25,001 to £35,000)
Loan term
2 years to 5 years
Representative Example: The Representative APR is 6.9% APR (fixed) so if you borrow £30,000 over 5 years at a rate of 6.9% p.a. (fixed) you will repay £589.67 per month & £35,380.20 in total.
Sainsbury's Bank 7.5% Small Loan for Non-Nectar Customers
Loan amount
£3,000 to £4,999
Representative APR
7.5% APR (£3,000 to £4,999)
Loan term
1 year to 3 years
Representative Example: The Representative APR is 7.5% APR (fixed) so if you borrow £3,000 over 5 years at a rate of 7.5% p.a. (fixed) you will repay £59.76 per month & £3,585.60 in total.
Sainsbury's Bank 12.5% Small Loan for Non-Nectar Customers
Loan amount
£1,000 to £2,999
Representative APR
12.5% APR (£1,000 to £2,999)
Loan term
1 year to 3 years
Representative Example: The Representative APR is 12.5% APR (fixed) so if you borrow £2,000 over 5 years at a rate of 12.5% p.a. (fixed) you will repay £44.32 per month & £2,659.20 in total.

Sainsbury's Bank loan reviews

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23 Feb 2012

Recommended

Sainsbury's Personal Loan

The Sainsbury's loan is a competitive rate (9.7% for me), was easy to apply for and the loan documentation was clear. I reapplied for this loan to incorporate another debt thereby increasing the loan amount but enabling me to have one payment a month so easier to manage. There was no problem with me taking out the new loan and it all went through smoothly. To avoid the cost of a courrier for the paperwork (a service they offer), just opt for first class post as the paper will still reach you swiftly.

Flexibility to pay back part or all of the loan early if you wish to.

5
Excellent
  • Customer service

  • Value for money

  • Flexibility & fairness

  • Product features

3 Jul 2013

Recommended

Sainsburys Loans are easy to set up

I found this set up very easy and had the advice from Customer Services. Had to chase the money a bit though to get it in the bank because of clerical errors.

Main form filled online

Letter sent out to sign was late.

5
Excellent
  • Customer service

  • Value for money

  • Flexibility & fairness

  • Product features

1 Mar 2015

Poor Process and not what it seems..

Applied for £15000 loan for car purchase.

Comparison websites show that I could expect a 'Representative' APR of from 3.7%. This appears to be the cheapest on-line! I already have nectar card and I have a good credit rating. How bad could this be I thought? I applied on-line on a Saturday night, and waited with eager anticipation... It took until the Tuesday to get an e-mail to be told I had 'Been approved In Principle' but 'you have not received our representative APR'. (But I was still not told the offered figure.) I hadn't in all honesty expected to get 3.7% but expected something near or at least 'low'. (Although they are supposed to give it to 51% of applications!)

What I didn't expect was, I wouldn't find out my actual APR until I received my offer in the post. That was bad enough, however, It took until the following Saturday for them to give me an excited letter that offered me 4.7% APR! What??? Really Sainsbury's? I feel totally misled. Lowest APR (searchable) ends up with me getting a quite high rate offered. Even if I didn't get the 'actual' advertised, I at least expected a 'low' one. On top of that it took 6 days to tell me! Useless!

BIG MASSIVE FAIL Sainsbury's!

I have now applied on-line elsewhere to get an immediate guaranteed offer lower than that. Anyone reading this, please don't have high expectations with them as I feel that they have really insulted me with poor service and a rubbish offer.

1
Poor
  • Customer service

  • Value for money

  • Flexibility & fairness

  • Product features

24 Feb 2012

Recommended

sainsburys loan

Easy to set up and possible to change. The no payment for three months rule at the start helps too! I'd recommend.

APR is competitive

4
Good
  • Customer service

  • Value for money

  • Flexibility & fairness

  • Product features

20 Jul 2013

Recommended

Good deals at stains bury

Good apr and very easy to set up online.

Good online service

5
Excellent
  • Customer service

  • Value for money

  • Flexibility & fairness

  • Product features

20 Jul 2013

Recommended

sainsburys bank loan

Easy to set up, got a good interest rate

easy to set up

having to pay back!

4
Good
  • Customer service

  • Value for money

  • Flexibility & fairness

  • Product features

3 Jul 2013

Recommended

Sainsbury's Bank Loans - happy enough

no problems so far.

4
Good
  • Customer service

  • Value for money

  • Flexibility & fairness

  • Product features

27 Jun 2013

Recommended

Sainsbury's Bank

Easy to apply and reasonable interest rate.

Easy to apply

5
Excellent
  • Customer service

  • Value for money

  • Flexibility & fairness

  • Product features

27 Jun 2013

Recommended

good customer service, patient and helpful

would use them again

One of the lowest interest rate on the market

interest rate goes up quite high for loan over £15000

4
Good
  • Customer service

  • Value for money

  • Flexibility & fairness

  • Product features

18 Jun 2013

Recommended

Does as promises

Fair rate of apr

4
Good
  • Customer service

  • Value for money

  • Flexibility & fairness

  • Product features

Does Sainsbury's Bank provide your loan?

Tell us what you think of them because it will help others.