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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)

Unhelpful, blunt service

I applied for a loan online via their website and was instantly rejected without an explanation. I was told a letter would follow to explain. The letter arrived but still did not explain why I was rejected. A very impersonal service and not very customer friendly. Reviewed on: 30th May 2017

Once, Twice, Thrice ..... I have turned to M&S Bank for a Personal Loan

I have found M&S Bank easy to apply to for a personal loan and when I went to repay the previous two loans early it was very straightforward to get a settlement figure and to make the early repayment. I have found they dealt with each application promptly and there was no delay in payment being credited to my bank account. Also repayment details such as amount and dates such as first and last payment date are clearly set out and the annual statement they provide keeps me updated on the repayment progress. I am very satisfied with the overall service M&S Bank provide. Reviewed on: 27th May 2017

Rapid service

Easy to apply and quick to be accepted and for the loan to be paid. Customer services are always efficient and able to answer queries. Reviewed on: 7th May 2017

I don't understand their credit rating

I tried once to apply for a loan there but without success. I don't know why this happened because my credit rating was good, I never missed any payment for anything, my salary is above the average and I was already more then 3 years in UK and more then 4 years with the same employer. Nobody explained me anything, I just got declined. Funny was that Halifax accepted my loan without any doubts. Reviewed on: 20th April 2017

Straight-forward

I took out a personal loan online with M&S bank. Pros: * Straight-forward online application * Cheaper rates (at the moment) * Longer term (at the moment) * Funds put into your account through electronic transfer on the day they receive your signed forms back Cons: * You can only apply for a loan in a sole name (not joint names) * Speed of completion depends on post (cannot draw down loan until you receive and sign the forms in the post and they receive them back through the post - you cannot drop the forms into your local M&S bank) Reviewed on: 21st June 2016

APR is a marketing cover - not the rate you'll actually be offered

I applied online for a personal following a link from MSE. Firstly the application process is cumbersome, you have to wait 5 days for a review, then then they post the forms which you then have to to return by post and wait a further 5 days for the money - not great when you've found a car to buy! When the paperwork did come through, they had doubled the APR that they had shown online, which added £2k to the repayment amount. I phoned to question it and they said the online figure was only representative. I have an excellent credit rating, plenty of equity on my house and no outstanding debts. This just felt like a marketing scam. Went to an alternative lender (Ikano) got a better rate and forms all processed online. Reviewed on: 25th May 2016

Loan no go

Applied for a loan , i have excellent credit rating and was rejected in seconds, no real justification for wh y ? Reviewed on: 28th March 2016

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