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

Name: Personal loan
Rating: 2.14 (57 reviews)

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2.25

Based on 57 reviews, last reviewed 9th Sep 2025

200% increase in 5 star reviews

in the past 90 days

100% decrease in 1 star reviews

in the past 90 days

18%

11%

58%

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:

2

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. follo... Read more Reviewed on: 9th September 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 (57)

I got the Loan at the 2.9% but after 7 days I still don't have the money!

I signed the paperwork same day. They said they would sign and approve within 3 days. This turned into 5 days. Communication was terrible. I was told I would get the money after they signed and this would be within 3 days but likely same day, it wasn't, Im still waiting! Do not use unless you are happy to wait 14 days for the money!! Reviewed on: 8th September 2022

Awful, Pathetic, Useless

Such a shame I couldn't award less than 1/10, otherwise it would have been -5 at best. Applied for a loan 21st July, today 12th Aug still waiting. Have rung numerous times to chase but after 24 mins, then 17 mins, then 18mins. Shocking service, particularly as they insist on telephoning them to get various figures. Reviewed on: 12th August 2022

It will take your credit score down and mark a hard search on the report

It will take your credit score down and mark a hard search on the report, they won’t even tell you actual reason for rejection. Reviewed on: 10th August 2022

Easy - be prepared to wait though!

I applied online (Sunday) having done a quick eligibility check which gave me a 90% chance of securing a loan at 4.3% APR. Within seconds of submitting the full application it was accepted and the paperwork was sent via email for me to sign electronically within minutes. It was a very easy process. Only after this did I read the reviews which did not fill me with confidence, I then got very worried as I had reserved a car which I had been hoping to buy the following weekend. I admit I rang nearly everyday to check on its progress (Monday - Wednesday) and I was told that my application had not been picked up; however, the lady on Wednesday did advise that they were working towards a 5 working day deadline so I should receive the funds by Friday. Sure enough on Thursday morning I received the signed agreement from M&S and decided to ring again to check all was well and query when I would be getting my money. Another helpful lady advised that it should be in my account by 12 noon the following day, sure enough after an anxious morning it was deposited promptly into my bank account just after 12 noon on the Friday. I was able to get my car!! I understand that most banks agree and send funds within hours, however M&S do clearly state their timescales so it would be sensible to bare that in mind if you do apply and are wanting money quickly. Overall a good easy experience. Reviewed on: 7th August 2022

Do not use

Applied for a loan last sunday, Still have no money despite me signing the online agreement within 12 hours. Had a message saying money will be paid within 3 working days on thursday. Rang today to see if there is any realistic chance of getting the money this weekend as I need the money to collect a car on monday and all they said was it takes up to 5 working days which longer than the agreement said. I have never had to wait such a prolong time for a loan to be paid, very poor service! Reviewed on: 7th May 2022

Waste of my time

Got accepted for loan,wrong phone number used to confirm offer,contacted twice and 2 more times they got wrong number,then they asked for copy of bank statements and photo to go with it.i am mortgage free and earn over 50k,how hard do they need to make it,going elsewhere obviously!, Reviewed on: 12th April 2022

Loan eligibility

They entice you to check if you're eligible, you get a yes so you then apply and it's a no. What is the point. Not happy with false eligibility check. Reviewed on: 2nd April 2022

I received shocking service from M&S loans this week over the phone.

I called M&S loans this week to get a balance. In order to access my account I was asked for my account number, which I didnt have to hand, but the individual on the phone who answered was obviously not in the mood to be helpful that day. She proceeded to tell me to go into my banking app and to find it. I couldn't. So I asked if there was a better way and she then proceeded to ask me some DPA questions. These were as follows - my full name, age at next birthday, full address and postcode, Bank account number, sort code, DD amount, Mums maiden name, bank name, ACCOUNT PASSWORD etc etc. At which point, after giving all these details, I refused to give anymore details as In my opinion that amount of questions to gain an account is BEYOND reasonable. Then I got hung up on so I called back. Again I was asked around 5 DPA questions, which I passed and was told I would get a call back with the information I requested, I was told it would take a few hours. THIS WAS 2 DAYS AGO. Please get your act together Marks and Spencer because if you continue to offer this level of service your business will fail. Im still waiting for a call back with the information I need. Reviewed on: 18th March 2022

DON'T use if you want your money anytime soon...

Applied 3 days ago on a Monday for a loan to buy a car, thinking all will be fine for buying at the next weekend. Was accepted immediately and signed online 30 mins later. By Thursday no correspondence from them, phoned up and spoke to a rude English lady who told me it would take up to 5 WORKING days (not including Monday I applied) before they signed their agreement and a further 3 working days to get the funds and basically that was the way it was and there was nothing she could do about their processes, so in effect from Monday week 1, up to Thursday week 2. Back in the old days when loans were paper based they were quicker than this.... Fortunately spoke to my bank, First Direct, and managed to arrange the same loan with them at a similar interest rate and within FIVE minutes the money was in my account... Phoned up M&S loans and the foreign lady I spoke to was much more helpful and said she would try to chase the loan up for me to see if they could expedite it, I explained it was too late and she confirmed she had cancelled the application for me. Reviewed on: 10th March 2022

Useless!!!!

Applied for a loan with M&S and I thought great was accepted straight away, signed me copy of the documents digitaly and sent back. 4 days later and they still haven't signed their copy!!! Absolutely useless they are and I am now at risk of losing the car I wanted to buy do to their incompetence. If you a wanting a loan with cheap interest rates, then AVOID M&S loans because you may never get one!!!! I wouldn't recommend them to anyone Reviewed on: 27th January 2022

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