Marks & Spencer Loans

93 reviews

2.9% Representative

Will lend between: £1,000 - £25,000

Over: 12 - 84 Months

Representative example: If you borrow £10,000 over 60 months at a representative rate of 2.9% APR and an annual interest rate of 2.9% (fixed), you would pay 60 monthly installments of £179.07. The total charge for credit will be £744.80 and the total amount payable will be £10,744.80.

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Marks & Spencer Loans customer reviews.

93 reviews

1.5 out of 5 stars

Our review of Marks & Spencer Loans

M&S, the same place that does excellent food and comfortable shoes, offers loans at a reasonable representative APR of just 2.9%, one of the lowest rates on Choose Wisely. It’s unsurprising to find out that they require good credit history from applicants and you need to prove you can afford repayments by earning over £10,000 a year. It’s worth looking at this loan if you already bank with M&S as it means that you may be able to receive better rates.

If successful, then you can choose to defer your monthly repayments at the start of the loan, however if you do this you’ll still be charged the interest and will extend the loan term by three months, which means you’ll end up paying more in the long run. If you do want to take this option, then just bear that in mind and consider whether you actually want to defer to begin with.

Reviews for M&S Bank on Choose Wisely are mixed with a mid-range score of 2.4 out of 5. Some customers have had a positive experience and received the APR they were originally quoted, however quite a few of the bad reviews mention that the rate they were given was much higher than originally quoted even with a near-perfect credit score. This isn’t unusual for lenders as they will almost always take into account your personal circumstance such as how often you’ve moved house, when deciding the rate.

Overall verdict: M&S have a very competitive representative APR and offer flexibility with repayments on the loan. Their criteria for acceptance run deeper than just credit score, your other personal circumstances will be taken into account when applying for the loan so if there’s any doubt that you will be accepted then steer clear as being declined could have an effect on your credit score.

Andrew Freelander
Written by
Andrew Freelander
Brand & Content Manager at Choose Wisely

Andrew joined Choose Wisely 5 years ago, originally working in a design capacity to make sure the website was simple to use. Most notably he worked with the Consumer Finance Association to design the comparison table of choice for High-Cost Short Term Finance products.


  • One of the UK's most-loved brands
  • Able to defer repayments for three months
  • No credit footprint left by online quote
  • Fixed monthly repayments
  • Payment holidays available

Minimum criteria

  • You will need to be aged 18 or over
  • You must be a UK resident
  • You need to have an income of over £10,000 per year
  • You will need to have good credit history


  • Maximum APR 19.8%
  • Arrangement fee: £0
  • Early repayment fee: £0
  • Late payment fee: £0

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About Marks & Spencer Loans

M&S offer personal loans between £1,000 and £25,000 at a representative APR of 2.9% over a period of one to seven years. Customers may receive a different APR to their advertised representative as they take into account amount borrowed, loan term and personal financial circumstances when making a decision. If you hold one of the main cards from M&S; M&S Credit Card, M&S Chargecard or M&S Budgetcard, or are a current account or existing loan customer, you are able to get better rates on their loans.

There are no arrangement fees and customers are able to apply over the phone or via their online application. To apply with M&S you will need to have good credit history, be a UK resident over the age of 18 and earn at least £10,000 a year. The application takes less than ten minutes and if you are successful then the funds can appear no more than five working days after the loan start date.

Company information

Registration number: 01772585


Kings Meadow, Chester Business Park, Chester, Cheshire, CH99 9FB

FCA registration

Reference No: 151427

Trading names: Marks & Spencer Financial Services PLC, M & S Bank

Place of business: Kings Meadow, Chester Business Park, Chester, Cheshire CH99 9FB

Data protection registration

Registration No: Z7484152

Data controller: Marks & Spencer Financial Services PLC

Address: Kings Meadow, Chester Business Park, Chester, Cheshire CH99 9FB

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