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

Name: Personal loan
Rating: 2.12 (58 reviews)

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2.21

Based on 58 reviews, last reviewed 24th Nov 2025

100% decrease in 5 star reviews

in the past 90 days

100% increase in 1 star reviews

in the past 90 days

17%

10%

61%

Latest highest rating:

5

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

Latest lowest rating:

1

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

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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.

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M&S Bank - Marks and Spencer Personal loan reviews (58)

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

Very clear

Took a loan for my car. Very clear pricing and fair rate. Easy to deal with and helpful customer service. Reviewed on: 4th September 2024

M&S interest % doubled

M&S advertised loan at 6.2% applied for loan and was accepted however with a rate of 12.9% - I called customer service as I assumed it was mistake and they advised no can change the rate after application. Absolutely disgraceful giving I would never have applied for this rate and is now showing on. My credit score Reviewed on: 14th March 2024

Excruciatingly and painfully slow.

Excruciatingly and painfully slow. Said they’d sign off agreement in 3 days… it took 5 and every time I rang up they kept saying ‘we’re expecting to hear back from the bank today’ lol WAY TOO HOPEFUL but gotta give it to the customer rep lol I couldn’t be that delusional myself. I am very thankful that they approved me so they’re getting a few stars for that but having to wait nearly 2 weeks for a loan is painful and I don’t think I’d put myself through it again. Reviewed on: 14th January 2024

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