Sainsburys Bank Personal Loan Reviews

  Ratings based on 50 reviews       Last review 6 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...

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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.

Overall Rating

Good

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Sainsburys Bank Review Insight

What are people saying in their reviews?

Customer Service

45% of feedback is Process related

Customer profile

Top Age Profile: 35-44

Top Channel Preference: Online

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Your Personal Loan Reviews

50 reviews

Review Sainsburys Bank's Personal Loan now

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 h... 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.... 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... 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

Dodgy at best

Advertise 2.9% but actually sent offer at 5.3%. My current bank is offering 3.5% so the Sainsbury application is going in the bin. Make sure you check before signing as no one told me this at any stage. I phoned to discuss and was told that there is... Read more

Advertise 2.9% but actually sent offer at 5.3%. My current bank is offering 3.5% so the Sainsbury application is going in the bin. Make sure you check before signing as no one told me this at any stage. I phoned to discuss and was told that there is no one who I would be able to discuss the situation with me!!!

Reviewed on 3rd November 2019
Benny Matthews's avatar
Benny Matthews

Terrible customer service that has directly impacted or credit rating

Joint pplication for a personal loan. The first correspondence we had was through post asking to return proof of address, however; no stamped address envelope or information about where to return supporting information was included. Subsequent... Read more

Joint pplication for a personal loan. The first correspondence we had was through post asking to return proof of address, however; no stamped address envelope or information about where to return supporting information was included. Subsequent information about bank account statements and identification was requested along with a signed copy of contract. This time a small stamped address envelope was provided but not sufficient for returning the required documents. The loan was approved. Another letter was sent by Sainsbury's returning our original bank statements but only 1 of 2 was returned. The letter stated that they would be in touch. That day we contacted Sainsburys bank to request an update on when the loan would be transferred. We were told that the application, which had been previously approved, was now withdrawn. The excuse was that the bank account stated for the loan transfer was not the account of the primary applicant. This was not made clear during the application process as this was a joint application and we were not informed that it mattered which bank acount was used for loan transfer, particularly since statements for current accounts of both applicants were provided. If this had been an issue this should have been addressed before the loan had been approved. The only way forward, we are told, is to reapply. This means that our credit rating is also affected. We will never bank with Sainsburys again after this experience. Every contact with this company regarding the loan application has confirmed the fact that they are amateur outfit with no due regard for potential customers

Reviewed on 26th April 2019
Naoise's avatar
Naoise

Very easy to apply for

Very little fuss and easy to talk to on the phone too

Reviewed on 15th April 2019
hymneries's avatar
hymneries

Good service

Easy loan good service reliable bank

Reviewed on 13th April 2019
Nisha George's avatar
Nisha George

Not the lowest rate as advertised!

The loan application is simple enough, you fill in some details and they give you a likely interest rate (in my case 2.9% on £7500). You then proceed and they carry out a credit check leaving a, "mark" on your credit file and come back to offer an ... Read more

The loan application is simple enough, you fill in some details and they give you a likely interest rate (in my case 2.9% on £7500). You then proceed and they carry out a credit check leaving a, "mark" on your credit file and come back to offer an interest rate of over 7% (somewhat higher than indicated!). I have no outstanding debt, i am mortgage free, I earn over 40k a year i have never defaulted on a payment for anything. Of course you then become wary of applying for a loan from another company because of potential damage to your credit rating. Anyhow i applied to first direct, who did not claim to offer interest rates at 2.9 % and despite the credit check carried out by Sainsburys they offered me a loan at 5%. Still higher than id like but a lot better than Sainsburys and without being misleading. So in summary i would not bother with Sainsburys and as far as their Nectar card goes, I've some good ideas as to what they can do with that, but i don't think its appropriate to type that here.

Reviewed on 28th March 2019
Jonny's avatar
Jonny

Rip Off

Sainsburys tempt you in with a low interest rate so they are at the top of the best deals list, then when you apply its possible dont get the low interest rate you thought you might be getting (and was tempted with in the first place) and you dont... Read more

Sainsburys tempt you in with a low interest rate so they are at the top of the best deals list, then when you apply its possible dont get the low interest rate you thought you might be getting (and was tempted with in the first place) and you dont know this until you apply, then if you dont like it your reluctant to try elsewhere because you have already just applied for credit and might not get accepted. I am trying to pay my loan off early (had it 2 months) and the interest is ridiculous, out of the £197.00 per month that I pay £57.00 is interest (over 25% of the repayment) then when you try to pay the loan off early they charge you 58 days of interest on top which in my case is around £100 to add to the early repayment. so all in all I will have made monthly repayments totalling to £592.00 over 3 monthly payments and still have to pay £9,831.50 to close my account (approx £168.00 difference between the original loan value/so everything else is interest. Don't get suckered into taking a loan from Sainburys unless your lucky enough to win the raffle and actually get the interest rate they are tempting you with. (which of course you wont know until you actually apply and create a footprint on your credit search)

Reviewed on 28th March 2019
Anthony Smallman's avatar
Anthony Smallman

Amazing

very helpful, affordable repayments

Reviewed on 5th January 2019
krystal98's avatar
krystal98

20th century processes

Everything is slow and clunky. Paper forms need sent off!!! It’s 2018 for goodness sake. We were in a hurry for the cash so I phoned to check it was all going ok. ‘Yes all fine - 2/3 working days and you will have the money’ was the answer. Then 8 days... Read more

Everything is slow and clunky. Paper forms need sent off!!! It’s 2018 for goodness sake. We were in a hurry for the cash so I phoned to check it was all going ok. ‘Yes all fine - 2/3 working days and you will have the money’ was the answer. Then 8 days later dropped through the door. Our application fell at the final hurdle because I had applied in my given name ‘Joe Bloggs’ but the name on the bank statement I sent away included my middle name ‘Joe William Bloggs’. I would have to start from scratch.
Well I went elsewhere and instead Sainsbury’s will have to start from scratch at attracting my custom back to ANY of their businesses. Crazy. Avoid.

Reviewed on 26th December 2018
Joe 's avatar
Joe

Very fast and efficient

I applied for a car loan 9k on line at the 2.8% on a Saturday after completing a non complicated form and some security questions I was advised I had been accepted and could sign agreement electronically (much easier) Monday morning the money was in... Read more

I applied for a car loan 9k on line at the 2.8% on a Saturday after completing a non complicated form and some security questions I was advised I had been accepted and could sign agreement electronically (much easier) Monday morning the money was in my account full contract and details of the loan were sent to me and confirmation email with cooling off period.
I had read reviews regarding time it takes and changed rate, I had a perfect hassle free fast experience.

Reviewed on 23rd October 2018
AP's avatar
AP

Don't even bother

What an absolute joke! My partner and I were approved we sent our papers off over a week ago and still waiting for our money! Shouldn't even take two days let alone over a week! Joke!!

Reviewed on 28th July 2018
David's avatar
David