Write a review

Newsletter

Go to business site

M&S Bank - Marks and Spencer: Personal loan reviews

Name: Personal loan
Rating: 2.81 (61 reviews)

View other M&S Bank - Marks and Spencer products

2.81

Based on 61 reviews, last reviewed 13th Aug 2026

100% increase in 5 star reviews

in the past 90 days

200% increase in 1 star reviews

in the past 90 days

18%

10%

61%

Latest highest rating:

5

Goddess and honestly explanation Goddess and honestly explanation Reviewed on: 9th July 2026

Latest lowest rating:

1

Hard credit search, then no communication I applied for an M&S personal loan advertised at a representative APR of 5.9%. I fully understand that a representative APR is not guaranteed and that... Read more Reviewed on: 13th August 2026

Read all reviews Write a review

About this product

With an M&S personal loan you can borrow between £1,000 and £25,000.

You can repay your loan over a period of 12 to 84 months and there are no set up fees for your M&S personal loan. Before applying, you can check to see the lending terms you might receive, without affecting your credit rating.

M&S personal loan reviews help you find out what it’s really like to be a customer. If you’ve used M&S Bank before, you can also leave a review and share your experience.

Review M&S Bank - Marks and Spencer: Personal loan now

Help others make smarter decisions by sharing your own experience.

Write a review

M&S Bank - Marks and Spencer Personal loan reviews (61)

Hard credit search, then no communication

I applied for an M&S personal loan advertised at a representative APR of 5.9%. I fully understand that a representative APR is not guaranteed and that the final rate depends on individual circumstances. My issue is with how the application was handled. M&S carried out a hard credit search and then referred my application for further review. I was told I would hear back within five working days. I waited the full five business days and received no decision, email or update. I eventually contacted M&S myself, only to be told that my application had been approved at 13% APR. Had I not chased them, I have no idea when I would have been informed. For comparison, I subsequently applied elsewhere and was approved immediately at 8.5%. I am not complaining because M&S did not offer me the advertised 5.9%. I am complaining because they carried out a hard credit search, made a lending decision and then failed to communicate that decision to me within the timeframe they had given. What made the experience worse was the complaints process. When I asked for a formal complaint to be logged about the way the application had been handled, the complaints adviser I spoke to refused to register it. The call became increasingly frustrating and ultimately went nowhere. A disappointing experience from a major financial institution. I would be very reluctant to apply for credit with M&S Bank again. Reviewed on: 13th August 2026

Will never recommand any one .

Will never recommand any one .they carried hard check on my file after 4 days they refuse my application .what a waste of time and mark on credit file . Reviewed on: 7th August 2026

Goddess and honestly explanation

Goddess and honestly explanation Reviewed on: 9th July 2026

M&S loans do hard check 1st

Loan companies do soft check prior rather than hard credit check. M&S will do hard check and leave mark on your credit score. Reviewed on: 24th November 2025

applied for a loan then within my rights decided I n...

applied for a loan then within my rights decided I no longer needed it. followed the instructions on the T&Cs to settle/cancel it to the letter. followed instructions from their customer service on the phone to return the money even though I was dubious that it didn't sound very 'official'. Paid the full amount back and they took loan repayments for the next two months anyway. Damaged credit score. No apologies or compensation for the loss of interest on my bank balance during this period or any inconvenience it may have caused me. Reviewed on: 9th September 2025

Best around would let my friend and family

Best around would let my friend and family Reviewed on: 25th August 2025

Brilliant transaction - no problem

I was a bit reluctant to take out a loan with M&S after reading many negative reviews but I can honestly say it has been the best loan application I have ever made. It was simple and easy to do and I have the money in my account two days later - brilliant - well done M&S!! Reviewed on: 30th July 2025

Damaged my Credit file

Applied for a loan with M&S Bank, they did a Hard Search on my credit file then nothing... They didn't contact me again to say I had been accepted or declined. I phoned them 10 days later to be told they had not processed the Loan and said they would complete it for me. They performed a second Hard Search (This has a serious negative impact on your credit history if you have two within 6 months, I now had two within 10 days). When Equifax informed me that my credit file was damaged I contacted M&S Bank who claimed they would rectify the issue with them. Six months on and the Hard Search foot print is still on my file after M&S Bank trampled all over it. Every time I check the file Equifax highlight the damage caused, which I presume they highlight to any new agency that looks up my details for future finance. The credit agency will not remove it at my request, requiring M&S Bank to correct their mistake, and claimed it will negatively impact the likely hood of future credit and interest rates offered that could cost me greatly. As M&S Bank have failed now three times in basic process I am writing this negative review and filing a complaint with the Financial Ombudsman Service. Don't use M&S Bank, it's clear from the reviews that my experience is not unique. Reviewed on: 2nd May 2025

Don't use Marks & Spencer's Loans

I received an email stating i would get a 6% apr rate if i applied for a M&S loan. Went through the whole process and got accepted. Not at any point did it come up on screen saying that it had increased which increases the monthly payment. Got the email for the signing of documents at work and stupidly signed away without checking. When i got home and checked they had increased the apr to 10%. What a bunch of underhanded cretins. It only meant i would pay back nearly twice the interest but also increased the monthly payment by £40 a month. How do these people get away with this??! This has now put a hard credit check on my record (which i had nearly a top score for) so i cant apply for another loan for 6 months. Annoyed isn't the word! Use this misleading company at your peril. Reviewed on: 30th April 2025

A rating of one out of five does not do justice ...

I'm also a victim of bait and switch from M&S as the loan rate switched from 9.9% to 14.9% and the loan repayments ballooned. I'm now at a crossroads as I've signatured my contract with the bank and they wrote to me to state that the money would take ''no longer than five working days'' to deposit. I'm into day SEVEN. I've left valuable feedback on other website and made the observation that M&S Bank, likewise, does not respond to reviews of their company. So be it. Should my loan amount successfully deposit then the whole process from day one will have taken close-on to three weeks to complete. Reviewed on: 6th March 2025

Do you have a different M&S Bank - Marks and Spencer product?

Share your experiences with products to help others make smarter financial decisions and learn more about different products available. Write a review

Are you a business? Get insights, reply to reviews, invite customers and understand their needs

Alternative products

Loans
from London Mutual Credit Union 4.86 from 2279 reviews
Loan
from Fair For You 4.86 from 8024 reviews
Loans
from Tandem 4.33 from 8 reviews

Want to see more from M&S Bank - Marks and Spencer?

Monthly Saver
from M&S Bank - Marks and Spencer 4.29 from 7 reviews
Everyday Savings
from M&S Bank - Marks and Spencer 4.12 from 2 reviews
Investments
from M&S Bank - Marks and Spencer 4.09 from 3 reviews

View all products

Join Smart Money People

Keep up to date on ratings of your favourite businesses. Find out about our awards and write new reviews with ease

Create an account

News, guides and insight from our team

View resource hub