Sainsburys Bank: Personal Loan reviews

Name: Personal Loan
Rating: 3.14 (63 reviews)

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3.14

Based on 63 reviews, last reviewed 6th Mar 2023

No new 5 star reviews

in the past 90 days

100% decrease in 1 star reviews

in the past 90 days

37%

16%

37%

Latest highest rating:

4

Quick Great service Sainsburys bank offers great personal loan rates with quick responses and great online and call services. Reviewed on: 19th July 2022

Latest lowest rating:

1

Taking the proverbial Applying for a Sainsbury's loan is very misleading and annoying especially as a Nectar card holder! You give and show a 4.8% APR as a Nectar card hold... Read more Reviewed on: 6th March 2023

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About the Personal Loan

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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Sainsburys Bank Personal Loan reviews (63)

Taking the proverbial

Applying for a Sainsbury's loan is very misleading and annoying especially as a Nectar card holder! You give and show a 4.8% APR as a Nectar card holder, and on completing the application it turns out this increases to 6.9%. WHY? This is scamming people once again into thinking you are getting a fair deal - not so!! Sainsbury's should make this very clear in the first instance, even if the applicant has an excellent credit rating already. Instead of wasting peoples time and totally insulting their intelligence. My loyalties will no longer be enhancing the £Millions profit Sainsbury's make year on year. Reviewed on: 6th March 2023

Not good for loan

Very slow loan process and the interest rates is very high and the loan payments show different in a loan cululater than a actual loan. Reviewed on: 23rd December 2022

Very disappointed

I have applied for a lone with sainsbury bank I have excellent credit score and I work full-time with very good payment history. But I am very disappointed they refused to approve my Lone. Reviewed on: 21st December 2022

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 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

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