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

2.01
Based on 52 reviews, last reviewed 6th Mar 2025
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Latest highest rating:

5

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
Annabel's avatar
Annabel

Latest lowest rating:

1

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 ... Read more Reviewed on: 6th March 2025
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AND THE WORD WAS GOD

About this product

M&S Bank - Marks and Spencer personal loan reviews on Smart Money People are honest reviews. If you're trying to determine whether this is the right personal loan for you, reading our M&S Bank - Marks and Spencer personal loan reviews can help you to find out what other people have to say. Smart Money People launched in October 2014 to help people like you to find the best personal loans. If you have used a M&S Bank - Marks and Spencer personal loan, we'd lov...

M&S Bank - Marks and Spencer Personal Loan reviews (52)

Review of the M&S Bank - Marks and Spencer, Personal Loan:

Wish I looked at the reviews first!

1
As previously mentioned! Mis leading APRs, can’t get a quote without bring credit scored each time! So can’t look at terms and figured, aprs without multiple applications which affect your credit score! AVOID!!! Reviewed on: 6th December 2021

Waste of my time

1
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

1
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.

1
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 addres... Reviewed on: 18th March 2022

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

1
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 ... Reviewed on: 10th March 2022

Useless!!!!

1
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

OUTDATED AND ANTIQUATED

1
I could live with the APR changing, I understand that it is subject to circumstance. Though it is backed by HSBC, who if I'd gone to direct, could have guaranteed me same day funds instead of waiting 5 days for a car purchase. You CANNOT manage your account anywhere, there is NO APP, NO ONLINE BANKING (unless you hold a personal account) and they sent a cheque/giro slip to make payment, this isn't the 80's. Get with the times M&S. I sold the car, paid the loan back and wen... Reviewed on: 4th January 2022

top notch

5
As an old boy I have dealt with many financial institutions over the years and am delighted to say that my experience of applying for and obtaining a personal loan from M & S was superlative. Everything that they promised was fulfilled. The online application was simple and straightforward. Funds arrived promptly in my current account and I was astounded by the competitive rate of 2.8 per cent. Still am buzzing with pleasure from such a fantastic deal. If you have a dec... Reviewed on: 4th September 2021

Total time wasters

1
I applied for a loan for a car purchase last Tuesday. I was accepted with a great interest rate of 2.9% and received an email to confirm this. Unusually for this day and age I also had to wait for paperwork to be posted, sign and return and I was informed that I would receive my funds 72hours after they receive my signed forms. It is now the Monday after my allocation and still I have not received any documentation from M&S Bank. Fortunately I didn’t lose the car I wanted to... Reviewed on: 23rd November 2020

Fair, Upfront & Helpful

5
The application process was easy to understand, the approval was through quickly and the money in my bank in very promptly. The interest rates were good, everything was clearly explained in plain English. When I unfortunately was made redundant, they happily suspended my payments for 6 months with no additional interest and didn't pester or threaten me during this time. Very understanding and supportive company Reviewed on: 10th July 2020

misleading

1
applied for loan ,said i was accepted ,received direct debit form ,filled it in and sent back .sat waiting for loan that never arrived ,so rang customer services who couldnt understand a word i said except to say my loan was declined ,i said it has been accepted but gave me no reason for it ,my experian score is 977 ,.these people called me a lot of hassle and im sure its breaking the law to say "loan approved " and then tell you its declined.!!!! Reviewed on: 10th March 2020

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