Rating based on 9 reviews

M&S Bank

  • Low interest rates
  • Debt consolidation up to £25,000
  • Repayment up to 84 months

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Author M&S Bank. Screenshot of M&S Bank website.
[Accessed February 16, 2022]

About M&S Bank

Are your debts creating headaches and making you feel unsure about your financial future?  M&S Bank can be of help.

It is hard to keep up with all the debt payments and interest charges therefore M&S Bank has made it easy for you. Instead of having a lot of debts to pay, you can choose to pay for only one loan which will cover all the other debts. M&S Bank can help you pay for all your debts thus leaving you with only one loan to pay.

Debt consolidation explained

Debt consolidation is making one loan to pay off the rest of your debts. This may help you save money as you will only have one payment to make with one interest rate instead of many. You will have to look at the terms and conditions carefully since debt consolidation can also charge you more than your current debts. It all depends on your remaining time of payment for your current debts compared to the time period of the new loan.

How debt consolidation works

Having outstanding credit or store card balances that leave you with headaches or maybe just a loan that you’ve been struggling to repay for a while. Whatever the need may be with debt consolidation you can put all your other debts into one single loan with only one monthly payment to make. By making use of debt consolidation you will be able to avoid paying the interest on the other loans or credit cards

M&S Bank Services

M&S Bank is a financial service focusing on retail bank operations and has years of experience in banking and loans thus making them one of the best lenders in the UK.

It is covered by FSCS which makes provision for compensation to debtors when the bank can’t meet their financial obligation. M&S Bank has its clients' best interest in mind as they provide high security when you use their digital banking service.

The requirements for debt consolidation

It is necessary to have an annual income of at least ₤10,000 which will serve as proof that monthly payments will be met. Candidates need to be UK citizens and above the age of 18. If the candidates don’t meet the requirements for debt consolidation, M&S Bank will provide offers that would both fit the requirements and the needs of the candidate or their personal circumstances.

Debt consolidation is the best option

Making a loan to pay off debt is a big decision. There is a list of options that you can choose from before changing the borrowing arrangements.

When looking into debt consolidation it is important to not only look at the interest rate and repayment terms but to also pay attention to the remaining terms of the existing loans. Comparing the outcome is of utmost importance as it can either allow you to save money or to spend more money on repayments.

M&S Bank – Consolidation loan

  • Loan Type Debt consolidation
  • Loan Amount up to £25,000
  • Repayment 12 months to 84 months

Benefits of M&S Bank

  • Low-interest rates
  • Flexible repayment terms
  • Quick and easy online services

Get an online with M&S Bank today

If the payments of the new loan will be longer-term it means you will pay back more than your existing loans, but remember if the repayment term is shorter than the existing loans, you will have to pay more interest.

Thus it is mandatory that you have a good look at your repayment arrangements and amounts. By making use of M&S Bank you will be provided with a list of different repayment terms to choose from who will fit your needs.

Among them have 12 - 84 months to repay back an amount of up to ₤20,000. Any amount from ₤20,001 to ₤25,000 will have 12 - 60 months to do their repayments. There are no extra charges or set-up fees and you will be able to pay a bigger amount without any penalty fees which will decrease the interest that is needed to be paid.

Repayment Schedule for ₤17,000

Initial fees

You are borrowing                                          ₤17 000

Time spend                                                     60 months

Monthly repayment                                         ₤323.38

Total payable                                                   ₤19 402.80

Extra information                                                           

Representative                                                3.5 % APR

Interest rate                                                   3.5 % p.a (fixed)

How the M&S App works

With the free M&S App for iOS and Android, you can now enjoy online shopping in the comfort of your home has all your favorite M&S products just a tap away. You can now start your shopping at M&S anytime and anywhere when using their online loan application.

Customer Reviews & Testimonials

June 2021

I was drowning in debt. With all the different debtors I had to pay each month, I realized that I was paying a fortune on interest. A friend told me about M&S Bank and I obtained a debt consolida...

Michaels L
— London —

May 2021

Having so much debt was really becoming stressful beyond measure. Each month would be the same story. No money for anything extra. I decided to get a debt consolidation loan.

Smith T
— Bristol —

October 2021

I got myself into so much debt that I didn't know what to do. I searched online for a possible solution and came across M&S Bank.

Brown C
— Manchester —

M&S Bank Contact

Contact Number


  • not available


Physical Address

  • Marks & Spencer, The Mall, Patchway, Bristol BS34 5QT United Kingdom
  • Get Directions

Postal Address

  • M&S Bank PO Box 10565 51 Saffron Road , Wigston, LE18 9FT, United Kingdom

Opening Hours

  • Monday 10:00 – 16:00
  • Tuesday 10:00 – 16:00
  • Wednesday 10:00 – 16:00
  • Thursday 10:00 – 16:00
  • Friday 10:00 – 16:00
  • Saturday – Closed
  • Sunday – Closed