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Sainsburys Bank Personal Loan Reviews

Ratings based on 25 reviews Last review 3 weeks 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...

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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 (25)

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21st November 2017

Worst Bank experience ever!

The worst service I have ever had from a bank! I applied for a loan online on a Friday which was immediately approved in principle. I was slightly disappointed that they needed to post out documents (supposedly first class) to me to sign and I had to...

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The worst service I have ever had from a bank! I applied for a loan online on a Friday which was immediately approved in principle. I was slightly disappointed that they needed to post out documents (supposedly first class) to me to sign and I had to return them for me to receive the loan.

On Saturday I received another email stating that they could not offer me the advertised 2.7% APR rate but my offered rate would be in the documents they had posted. Once I returned the documents they would process the loan and the money would be in my account in 3 – 5 working days. So much for instant online trading.

Nothing arrived in the post on Saturday, Monday or Tuesday however I received an email on Tuesday stating they needed more information in order to process the loan. I rang the number provided to be told the loan was with underwriting as I was self employed. I was eventually told I had been declined, even though I have a credit score of 999 and have never defaulted on anything in my life!

I only picked Sainsburys as they had the lowest rate on Money Saving Expert who I trust. I will be going to a proper bank now instead of cowboys who should stick to selling bread.

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1st July 2017

Old school loan

My loan with Sainsbury's was at a fantastic rate, so really chuffed with that. But setting up was a little more daffy than I'd have liked, and involved confusingly worded emails and posted letters. It all felt a bit old school waiting for things in...

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My loan with Sainsbury's was at a fantastic rate, so really chuffed with that. But setting up was a little more daffy than I'd have liked, and involved confusingly worded emails and posted letters. It all felt a bit old school waiting for things in the post. Emails looked basic which always makes me question the validity of the sender in this world of identity fraud.

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29th June 2017

Poor slow service

Applied for a loan three weeks later advised that they were thinking about it and then they tell you can't have the advertised rate, I have a perfect credit history and believe that they pull you in with the offer of something they won't deliver so...

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Applied for a loan three weeks later advised that they were thinking about it and then they tell you can't have the advertised rate, I have a perfect credit history and believe that they pull you in with the offer of something they won't deliver so that they can get more out of you with a higher rate

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30th May 2017

sneaky percentage rates

after the initial quote online and via an email (including a small diaclaimer about the rate may change) when my paperwork came through to sign the apr had increased from 3% to 12% which a lot of people may not even notice. i put it straight to the...

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after the initial quote online and via an email (including a small diaclaimer about the rate may change) when my paperwork came through to sign the apr had increased from 3% to 12% which a lot of people may not even notice. i put it straight to the shredder and got bettter quotes from elsewhere

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30th May 2017

Sainsbury bank good (not fast)

I've had a car loan from Sainsburys before and they were very reasonable. Applied again but in the holding message they said that the final loan offer may be more than that advertised and there was An undue delay in the final offer. As I was in a...

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I've had a car loan from Sainsburys before and they were very reasonable. Applied again but in the holding message they said that the final loan offer may be more than that advertised and there was An undue delay in the final offer. As I was in a hurry I got a loan from Zopa who were more on the ball and were able to offer a loan before a response from Sainsburys which came a few days later. In the event the APR from Zopa was a little higher than the rate offered by Sainsburys but speed was more important on that occasion.

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30th May 2017

poor customer service

I was seeking a car finance loan. Applied online @ 2.9% APR. It said it would take 3-5days. After a week I hadn't heard anything so I called them. I was told yes I was approved but @ 6.7%. I asked why I was being offered a much higher rate than that I...

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I was seeking a car finance loan. Applied online @ 2.9% APR. It said it would take 3-5days. After a week I hadn't heard anything so I called them. I was told yes I was approved but @ 6.7%. I asked why I was being offered a much higher rate than that I applied for as I have an excellent credit score.
I was told she didn't know nor could she find out. When I queried this I was asked bluntly did I want her to send the paperwork or not. This left me with a bad taste about the whole thing. Clearly customer service is a low priority.
In addition I was told on receipt of the completed paperwork it would be another 5 working days before the money would be transferred to me, meaning the whole process was taking over 3 weeks. This I can only assume is because I took the incentive to call them rather that wait for however long they would have taken.
I choose not to go ahead with taking a loan from Sainsburys bank due to a poor experience in the application process and was granted a loan elsewhere at 3.2% and was in receipt of the money in 24hours from time of application.

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30th November 2016

Average

The interest rate on my loan offer was almost 3 times the rate shown online. Got an email saying my credit agreement had been posted first class on a Thursday however it arrived the following Wednesday dated with Tuesdays date. Everything seemed to...

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The interest rate on my loan offer was almost 3 times the rate shown online. Got an email saying my credit agreement had been posted first class on a Thursday however it arrived the following Wednesday dated with Tuesdays date. Everything seemed to be outlined but wasn't the easiest of reading. Hoping it's onwards and upwards from here.

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