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

Name: Personal Loan
Rating: 2.04 (54 reviews)

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1.87

Based on 54 reviews, last reviewed 2nd May 2025

No new 5 star reviews

in the past 90 days

300% increase in 1 star reviews

in the past 90 days

15%

63%

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

Latest lowest rating:

1

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 ... Read more Reviewed on: 2nd May 2025

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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 love you to write a quick review too.

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M&S Bank - Marks and Spencer Personal Loan reviews (54)

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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