Sainsbury's Loans

1086 reviews

2.8% Representative

Will lend between: £1,000 - £40,000

Over: 12 - 84 Months

Representative example: If you borrow £10,000 over 60 months at a Representative rate of 2.8% APR and an annual interest rate of 2.8% (fixed), you would pay 60 monthly instalments of £178.64. The total charge for credit will be £718.40.

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Sainsbury's Loans customer reviews.

1086 reviews

3.5 out of 5 stars

APR not as advertised
12:35 03-05-2017
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Wanted to borrow £10k. Never been in debt , own my own house, jobs pays well above average , never defaulted on a payment.... so was expecting the 2.9 % advertised but this was declined without a reason given? Oh well! The mortgage lender it is......

Euan Donald

Very Slow and Paper Based
16:49 24-03-2017
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Rate was good but very slow, loan accepted and then waited 3/4 days for paperwork to sign, returned first class but it was five working days before they received the form. Although I don't have the money, to cancel I have to return it when paid to me as apparently they can't cancel the payment now. Customer Service is poor and there are very few confusing updates given throughout the process. I wouldn't recommend using them unless the loan isn't time critical (like when buying a car). I applied for a loan with another company at a comparable rate, electronically signed the forms and received payment the next day.


No good
16:28 12-03-2017
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waited 5 days for paperwork and nothing came through called them and then they said sorry you haven't been accepted for the loan... i was not sent anything to tell me this so i was waiting on paperwork which would never have come and would never have known if i hadn't called.


Don't bother
16:11 14-02-2017
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Despite having an exemplary credit score, the loan APR went from 3.1% advertised rate to 6.8% on the paperwork. A complete waste of time. It can only be false advertising. Don't waste your time on even applying!

Colin Eadie

Don't be put off by some reviews!
13:55 10-02-2017
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Before applying for my latest loan I checked out some Sainsbury's reviews, mostly bad on here. I have has Sainsbury's loans before and have a good credit score so thought I would give it a go. £19999.00 over 60 months @ 3% 'agreed in principle' email within a couple of hours as applied for, paperwork within 2 days at the agreed 3%, signed and sent back same day, funds released 2 days later! Can't recommend them enough, and I have not even needed to contact them!


Could not believe it
14:45 04-02-2017
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I have applied and got accepted for a Sainsbury's personal loan at the rate of 3.0% APR. I could not believe it when I read the agreement. I already have a loan with my bank at the rate of 10.3% APR. I can now consolidate my existing loan and save about £1700 on interest.


false advertising !!! would give 0 stars if it was possible
12:26 20-10-2016
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I filled the application as requested was told that I have been accepted and the aggrement will be posted to me for signing. When it arrived surprisingly the APR was at 6.5% rather that 3.2% that they advertise everywhere! Never been in debt no credit cards to be paid off and being paid over 30k a year, all in all would say that I have a perfect credit score but they are not worth the time to bother. I went straoght after with my bank that was offering slightly higher APR 3.4% and had the money in my account following day lol. Do not waste your time to fill the application form as not worth it... beware


It's a con! 3.3% more like 9.6% rip off
20:52 28-09-2016
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Website crashed, applied with credit score of 999 sound profile affordability and was offered 3 times advertised APR!! Phones to complain and they justified their decision saying they offered to advertised rate for 51% of customers - so despite impeccable profile and credit rating they give you 50:50 chance of getting the advertised rate - Misleading and a disgrace in my view

Julie Ann

Pointless application offering false hope
18:48 08-08-2016
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My credit score is poor after my wife had large deductions from her wages from the CSA and having been made redundant recently. I have been managing our budget and getting us back on track, but I thought a loan would help clear a credit card and provide a route to solvency. The application seemed easy enough but very little information regarding the application was sent through and then you wait for the letter and documents to be sent through. Only to find that actually you haven't been accepted and they are now declining you. I wouldn't use them for a loan ever again and may not bother with the company at all. I thought Tesco were bad. They should stick to being Grocers.


Value your credit rating?
21:10 26-02-2013
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I filled in the details on the Sainsburys website while looking around for a loan. This was unfortunately before I looked on the internet at reviews for this provider. The online process was fine, but the website kept showing me a ‘poor connection’ and I was not sure if the application had gone through. There was no ‘thanks for your application’ page, email or any other feedback to indicate my application was in the system. A week later I recieved a letter from Sainsbury asking for more information in order to progress the application. In the meantime I had secured a loan with another provider with a better rate and exceptionally efficiently, therefore I didn’t send any more information to Sainsburys. Subsequently over two weeks after applying for the loan, I recieved a letter saying I had been declined. As far as I can see, Sainsburys had no reason to refuse my loan, there was no confirmation (email or otherwise) or other communication as you might expect with such a financial commitment. I have an excellent credit rating, read through Experian, but now have a declined loan record on my credit record. I strongly suggest you look elsewhere for your loan, or at least be aware Sainsburys may refuse you and damage your credit rating for an inexplicable reason. If you search the internet, you will find similar negative experiences, as I wish I had done beforehand!


Our review of Sainsbury's Loans

Usually associated with decent priced, quality food, Sainsbury’s also offer personal loans between £1,000 and £40,000. Their representative APR is one of the cheapest on Choose Wisely, so it should come as no surprise that you will need to have good credit history to apply. The application process can take a bit longer than other lenders out there; once approved, customers will receive their agreement in the post, sign and send it back. Once Sainsbury’s have received this it can then take three to five working days for the funds to appear in your account.

Monthly repayments are fixed, unless customers choose to overpay. If this is the case, then you will need to speak to Sainsbury’s who may then provide you with a lower interest rate than you originally took out. There is no charge for this, although if you did want to make an early settlement payment then you’ll be charged 58 days’ interest, so if you’ve only got a couple of months left then consider whether you actually want to do this, or to just finish the loan as planned. Unlike some other more well-known lenders, Sainsbury’s give their customers less online control of the loan, to find out how much you have left on your balance, you’ll need to call their telephone team rather than simply logging in.

On Choose Wisely Sainsbury’s have a good OPTIOSCORE of 85 and a rating of 3 stars out of a possible 5. Some customers feel that they experienced poor service from Sainsbury’s and found the lengthy postal process inconvenient as they are possibly used to things being done online, especially if the end decision is a decline. For customers that are pleased with the experience, they comment on the affordable interest rate, brilliant phone team and smooth process.

Overall verdict: It seems that if you have good credit history and don’t mind a more traditional postal application process then Sainsbury’s could be worth considering. Their competitive interest rate is attractive and you do have the comfort of going with a well-known name. One thing to watch out for is that if you do prefer to do things online with speed, then you may find this archaic process quite frustrating.

Written by: Alex


  • 2 month repayment holiday at the start of the loan available
  • Dealing with a household name
  • Better rates for Nectar card holders
  • Price promise on like for like-for-like loans

Minimum criteria

  • You must be aged between 18 and 80
  • You will need to be aged less than 83 when the loan is repaid
  • You must have a UK bank or building society account with Direct Debit facility
  • You must have a permanent UK address
  • You must have a household gross income of at least £7,500
  • No CCJs or bankruptcy


  • Maximum APR 25.2%
  • Arrangement fee: £0
  • Early repayment fee: £5
  • Late payment fee: £25

About Sainsbury's Loans

Sainsbury’s offer unsecured personal loans between £1,000 and £40,000 over loan terms ranging from one to seven years. Their advertised representative APR is very low, however they will provide a tailored rate which takes into account the amount borrowed, loan term and personal circumstances, so you may not receive their advertised rate. To apply with Sainsbury’s you will need to have good credit history and have a gross household income of at least £7,500 per year to ensure you can afford to make the monthly repayments.

When completing the application online or over the phone, you will need to have documentation with you to speed up the process. You’ll need to have your residential history for the past three years, bank details, your monthly incomings and outgoings, employment details and your Nectar Card number if you have one. Although you don’t need to have a Nectar card to apply, you may benefit from slightly better rates if you do have one.

There are no arrangement fees and customers can choose to take a two month repayment holiday at the start of the loan, although you will still be charged interest during this time. Customers are able to settle their Sainsbury’s loan early, however there is a charge of 58 days’ interest to do so.

Company information

Registration number: 03279730

3 Lochside Avenue, Edinburgh, Mid Lothian, EH12 9DJ

FCA registration

Reference No: 184514

Trading names: Sainsbury's Bank PLC

Place of business: 33 Holborn, London, EC1N 2HT

Data protection registration

Registration No: Z760781X

Data controller: SAINSBURY'S BANK PLC

Address: 33 Holborn, London, EC1N 2HT

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