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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)

Loan sharks

Absolutely outraged at M and S bank.I applied for a loan with a headline figure of 4.9 percent,loan application was excepted but with one small difference,the figure now was 10.9 percent!!!!!!!!! Absolutely outrageous. This is disgusting behaviour from a supposedly reputable brand. I will be boycotting all M and S products from now on. Reviewed on: 14th May 2023

Loan Sharks

Saw advert for M & S Bank on Money Supermarket for a personal loan at 4.9%. Applied and was accepted for the loan. As soon as I received the notification I was told the interest rat had gone up to 10.9% costing me an extra £30 per month. I called to cancel the load and was told that details of my loan application would still be passed onto the credit agencies. Disgraceful treatment of the public. They should be ashamed. Reviewed on: 15th April 2023

So good at travel insurance

They helped me in travel insurance and the customer service company was so helpful Reviewed on: 6th April 2023

Excellent service

The process for applying for a personal loan is stress free. They assessment process was quick and I didn't have to speak to anyone because the online application was straightforward and not complicated. I receive frequent mails updating me about the product and when I call to top up, the customer service is always good. I highly recommend them. Reviewed on: 5th April 2023

Good rates

Have been using this co. For a long time and they respect my high credit rating. Reviewed on: 3rd April 2023

Non Existence Customer Support

I want to pay off my loan. However, I cannot do this online or via the app, I have to call Customer Services. Tried numerous times to speak to someone and no one picked up the phone. I therefore requested a call back, when I was eventually called back I was told that I needed to speak to a different department, was then cut off. I only want to pay off my loan, absolute nightmare. Would not recommend. Reviewed on: 19th January 2023

Bait and Switch

The rate of 4.9% and repayment amount looked really good on Compare the Market. I filled out the details, was approved and the APR went up to 9.9% and the final repayment amount went up by £1000. I chose a different loan instead which I was preapproved for and was also cheaper. Don't think I'll bother with M&S again. Reviewed on: 22nd December 2022

A very fair service

I appreciate being considered for a personal loan where other banks/lenders were not so compromising. The service was old fashioned, fair, polite and very thorough. The interest rate was on the higher side, but by no means stratosphoric. I was kept informed by mail and texts throughout the whole process. Even the telephone financial review was done in a friendly professional manner. The whole process took about two weeks. Thank you M&S Bank Reviewed on: 10th November 2022

Horrendous

Absolutely disgusting customer service. During my loan payments took £926.71 from my account instead of £92.61. Then tried to blame me and make me pay back the £926 after they refunded it back to me. Customer service shocking especially if you have anxiety regarding phone calls. Loan closed 4 months ago yet they haven’t let the credit agencies know and it’s still on my account. When questioned they’re absolutely disgusting. Tried to make a complaint and got ‘we will not be responding.’ Avoid Reviewed on: 18th October 2022

Extremely slow and poor customer service

First referred my application to an underwriter who will get back to me within 5 working days. After the underwriter request more information, it takes another 5 working days for the underwriter to review the documents. Then it's approved for an agreement, it takes another 3 working days following further checks for M&S to counter-sign it. It's already checked by the underwriter why do they need to check it again after giving you the agreement, and why don't they countersign it in the first place? After M&S have signed the document, it takes another 5 working days for the funds to be transferred! In total 18 days to get your funds. I've placed an order and reservation for a car, now it's likely to be gone. Not sure if I can get my reservation back, and if I cancel the application and apply elsewhere I don't know if it would affect my credit score. Reviewed on: 29th September 2022

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