Sainsburys Bank Personal Loan Reviews

  Ratings based on 60 reviews       Last review 3 months ago    

Sainsburys Bank 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 Sainsburys Bank personal loan reviews can help you to find out what other people have to say. Smart Money People launched in...

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Sainsburys Bank 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 Sainsburys Bank 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 Sainsburys Bank personal loan, we'd love you to write a quick review too.

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Your Personal Loan Reviews

60 reviews

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The worst service and lie about the settlement

I had an ok experience until my settlement. I asked for a settlement 11 months into my 18 month car loan as I could afford to pay it off. After waiting on hold for an hour the agent disconnected as soon a I got through. After another 2 attempts and a Read more

I had an ok experience until my settlement. I asked for a settlement 11 months into my 18 month car loan as I could afford to pay it off.

After waiting on hold for an hour the agent disconnected as soon a I got through. After another 2 attempts and a combined hold time of around 3 hours I finally got through to somebody. They gave me a settlement figure of £5,273,17 for a loan that had £6,080 left - seems fair.

I then had the instructions sent to my account and transferred the sum to my account. The wording was “all you have to do is transfer £5,273,17 to X account and the account will be closed, this includes your next direct debit payment.

2 days later, with my account still open, I messaged them and got a response 4 days later that said “the settlement agreement generated was incorrect and you still need to pay your next direct debit payment of £890. I was furious.

I called an agent who said this was correct but could not give me a reason why. I then spoke to a team leader who said this information was wrong, the settlement was correct and bluntly stated that I will not have to pay my direct debit as it was a technological fault and the system hadn’t caught up. She then said she was going to raise a formal complaint and pass me through to customer service to get more assistance.

I was then transferred through to Ben, who had no idea id spoke to another agent. I repeated what the team leader has said and Ben then stated she was wrong, the settlement was incorrect and I still need to pay the direct debit. HOW CAN 5 DIFFERENT PEOPLE ALL BE ON A DIFFERENT PAGE!?

Ben then said they are doing an internal review that takes 3 days but it could take up to 8 weeks (my direct debit is due in 11 days). He said if they can’t resolve it then I can go to the Financial Ombudsman Service after the 8-week period.

The customer service is horrendous and clearly the staff are not being trained well. It’s a disgrace and they’re exploring customers for mild gains.

Reviewed on 30th August 2022
Lewis G's avatar
Lewis G

Everything is fine until the settlement

It's like talking to a wall. The system should be automatic. I asked if I should cancel the direct debit. They said there is no need. They will close my account. Today I paid an extra £250 that I need to recover. I will let it there, and wait and see how Read more

It's like talking to a wall. The system should be automatic. I asked if I should cancel the direct debit. They said there is no need. They will close my account. Today I paid an extra £250 that I need to recover. I will let it there, and wait and see how many months it takes them to return the £250. In a digital age, where things can be sorted automatically, they make it all more difficult.

Easy to start a loan, hard to close one.
I know some people might think I am fussy, but most companies don't know how to automatise the customer flow, they still rely on traditional ways. Shame, as everything went well until the end.

Reviewed on 2nd August 2022
Tudor 's avatar
Tudor

Quick Great service

Sainsburys bank offers great personal loan rates with quick responses and great online and call services.

Reviewed on 19th July 2022
ghazal khoshkam's avatar
ghazal khoshkam

Worse company ever

Terrible company! Impossible to get on hold of anyone, tried to renegotiate my loan. Waste of time. Greedy company.

Reviewed on 7th July 2022
Doug's avatar
Doug

asking for £400 more than outstanding balance when I am clearing 5 year loan in 1 year!

I was told when it comes to settlement, the settlement figure includes 58 days of interest on original balance! and in reality now they are saying it's on top of outstanding balance which already contains the interest FOR NEXT 4+ YEARS how is this even fa Read more

I was told when it comes to settlement, the settlement figure includes 58 days of interest on original balance! and in reality now they are saying it's on top of outstanding balance which already contains the interest FOR NEXT 4+ YEARS how is this even fair and how are these cowboys getting away with it???

Never using these cowboys taking advantage of genuine and vulnerable people

Reviewed on 26th April 2022
Waqi Awan's avatar
Waqi Awan

Never had a problem

Did us a loan a few years ago. Was easy to manage

Reviewed on 28th March 2022
Ian Martindale's avatar
Ian Martindale

Got my money in one hour time

I would def. recommend Sainsbury loan because they don't scam you and give you a reasonable APR after filling the form. When I applied it showed 3% and after submitting it came to 7% which is acceptable. I got the loan in less than one hours time thanks f Read more

I would def. recommend Sainsbury loan because they don't scam you and give you a reasonable APR after filling the form. When I applied it showed 3% and after submitting it came to 7% which is acceptable. I got the loan in less than one hours time thanks for them using DocuSign and all paper work was done asap. I applied the same loan on AA finance and it showed me 3% and later offered me 21% and the post would come in 5-7 days.

Reviewed on 24th December 2021
Jaineel Shah's avatar
Jaineel Shah

safe Loan

Great service for this loan and they helped me a lot when i paid it off early and low interest rate.

Reviewed on 3rd September 2021
Brian Wilson's avatar
Brian Wilson

Loan settlement

They want more money than I owe to settle a loan early. I'm sure you used to get a rebate. Terrible, will never deal with again.

Reviewed on 29th April 2021
Bish's avatar
Bish

Average

App never works. Decent interest rates.

Reviewed on 17th February 2021
Andrewhay's avatar
Andrewhay

Great company

Good company, great rates and quick responses.

Reviewed on 11th July 2020
Lorraine Anderson's avatar
Lorraine Anderson

Easy application and helpful customer service

I applied for a Sainsbury's loan and the process was very easy - they were readily available to speak to me on the phone and organise everything. I applied for the loan and was able to receive the money within a matter of days.

Reviewed on 29th April 2020
Bryony Wilson's avatar
Bryony Wilson

Great service

Simple easy friendly service, can't fault them really!

Reviewed on 28th April 2020
AC's avatar
AC

Loan review

Fast and painless experience with very competitive rates and easy ways to manage the product throughout application and after sale

Reviewed on 27th April 2020
maurer101's avatar
maurer101

Interest rate

My credit rating was excellent in all rating agencies, when I applied for personal loans Sainsbury banks site was showing.2.9%. After completion the application process the interest rate was 12%. So don’t trust this bank. HSBC IS THE BEST. Same thing happ Read more

My credit rating was excellent in all rating agencies, when I applied for personal loans Sainsbury banks site was showing.2.9%. After completion the application process the interest rate was 12%. So don’t trust this bank. HSBC IS THE BEST. Same thing happened to my wife too

Reviewed on 3rd April 2020
Sab's avatar
Sab

Process takes a long time

They are unable to deliver the loan in the 3-5 day window quoted, so dont expect the loan if you need it quickly. The customer service team are completely hand tied. eg - The application is over 5 days, can you send digitally? No sorry we can't sir. OK. C Read more

They are unable to deliver the loan in the 3-5 day window quoted, so dont expect the loan if you need it quickly. The customer service team are completely hand tied. eg - The application is over 5 days, can you send digitally? No sorry we can't sir. OK. Can you upgrade the postage to first class, so we get the letter quicker, as you have not delivered on your 3-5 day window? No sir sorry. Sorry sorry sorry. Please senior management empower your teams, only way you can improve service!

Reviewed on 13th March 2020
Matt Fa's avatar
Matt Fa

Falsely give low %

2.9% offered then after they take your bank details up to 6.3% ? Called number on Web page to question this and young lady said ....yes this is norm for over 50% who apply. All misleading and dishonest advertising.

Reviewed on 3rd February 2020
GC's avatar
GC

Go Elsewhere

You don't get offered the rate they advertise. Then they take 3-5 days to process your settlement and up to 90 days to clear your credit file.

Reviewed on 20th December 2019
Vanessa's avatar
Vanessa

not the best but not the worst

Had a loan with them a number of years ago.Good rate then and looked up for a loan 8 month back not a bad rate then.

Reviewed on 6th November 2019
john radburn's avatar
john radburn

Worst Bank ever! Most obsolete web app ever seen!

Worst bank ever! Most obsolete customer login panel I have seen is just one enormous pain in the as*. The customer is not informed about anything! No emails/letters/text messages. Those thieves just silently waiting to steel you hard earn money. Stay away Read more

Worst bank ever! Most obsolete customer login panel I have seen is just one enormous pain in the as*. The customer is not informed about anything! No emails/letters/text messages. Those thieves just silently waiting to steel you hard earn money. Stay away, you have been warned.

Reviewed on 4th November 2019
John James Sainsbury's avatar
John James Sainsbury