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Sainsburys Bank: Personal Loan reviews

Name: Personal Loan
Rating: 3.33 (70 reviews)

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3.45

Based on 70 reviews, last reviewed 15th Jun 2025

100% increase in 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

45%

14%

33%

Latest highest rating:

5

Sainsbury’s accounts I used Sainsburys for a loan because they are a trusted reliable company, the service was good and I was not dissatisfied in any way, I would always ... Read more Reviewed on: 15th June 2025

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 this product

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 (70)

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

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 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

Quick Great service

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

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

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 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

Never had a problem

Did us a loan a few years ago. Was easy to manage Reviewed on: 28th March 2022

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 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

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

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

Average

App never works. Decent interest rates. Reviewed on: 17th February 2021

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