Rating based on 22 reviews

Sainsbury’s Bank – Personal loans

Updated

  • Low-interest starting from 2.9%
  • Personal loans up to £40,000
  • Repayment up to 84 months

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Sainsbury’s Bank homepage

Author Sainsbury’s Bank. Screenshot of Sainsbury’s Bank website. [Accessed April 22, 2020]

About Sainsbury’s Bank

Sainsbury’s started operating in 1997.

We are the first major supermarket in the UK. Sainsbury’s owned 100% of Sainsbury’s bank since 2014.

We aim to make our bank a great place to work

We are a slowly growing organization at a time of unprecedented change in the financial services industry. We are a part of the UK’s most trusted brands brings our colleagues exciting opportunities to fulfil their potential while our customers seek more and more innovative services and technology. We want our staff to develop skills and knowledge to be the best they can be while learning from each other and their managers.

Sainsbury’s bank values

Our values show how we do things and they are also the bedrock of how every single colleague act at work.

  • Cheering on progress- we encourage and recognize each other. While celebrating the progress we make as well as when we cross the finishing line. Even when we did not get everything right on the first attempt.
  • Making it happen at pace- we are brave and always looking forward to trying new things and do whatever we need to make the difference as quickly as we can.
  • We simplify things- our staff uses the best technology to do things in a more straightforward way for our customers and those who serve them.

An award-winning range of financial products

At Sainsbury’s, we always look for ways to improve our service while keeping our customers happy. We offer  Sainsbury's shoppers great deals and rewards for choosing to shop and bank with us. All our customers have access to products such as credit cards, savings, unsecured loans, travel money and car, home, pet, travel and life insurance which we provide online and by telephone. While  Nectar cardholders receive additional points and preferential rates across a range of products.

Sainsbury’s Bank Services

Sainsbury’s Bank offers affordable loans with amazing benefits.

We have financial assistance that will help you cover everything you want to do including home improvements, replacing your car or simply getting your finances in order.

A personal loan from Sainsbury’s Bank

With our award-winning personal loan, you can borrow from  £1,000 - £25,000. Applying for Sainsbury loan while you are a Nectar member automatically qualifies you for our lowest rates.

You can also apply for a repayment holiday when you do not have the means to pay off your monthly instalment. Holiday repayment is only two months, and interest will be charged between the start date of your loan and your first repayment.

Sainsbury’s bank interest charging information

All our personal loans have a fixed and guaranteed interest rate for the life of the loan. The annual interest rate is calculated each calendar day and is added to the loan monthly.

APR ranges at the Sainsbury Bank

At Sainsbury, we are fully aware that we have unique customers with different financial status and financial needs. hence, we treat customers on an individual basis. Our APR is determined by the details you supply and the loan you are applying for as well as the independent verification of your credit and repayment history and will range from 2.9% to 24.9% APR.

How to repay Sainsbury’s Bank loan

You repay Sainsbury loan monthly, and the amount is paid through direct debit. However, if you take a repayment holiday, your first monthly repayment is due three months after the date the loan has been opened

Sainsbury’s Bank Product Details

  • Loan Type Personal loans
  • Interest Rate from 2.9%
  • Loan Amount up to £40,000
  • Repayment 1 year to 84 months

Summary of Services

  • Competitive interest rates
  • Quick online loan application
  • Affordable loan deals

Sainsbury’s bank the convenient financial solution for all financial troubles

At Sainsbury, we are all about helping people achieve their financial needs easily and quickly.

At Sainsbury, you can start and finish your loan application form online without having to visit any of our branches. Be as honest as possible when feeling our application forms so that your loan application could be approved as soon as possible.

Sainsbury’s Bank lending criteria

We provide loans that are subjected to status. Offer written quotes on request and we have the right to vary rates without notice. And we offer you rates based on your personal circumstances, credit assessment procedures, and other related factors. You can only apply for any of our services when you are over 18 years and resides in the UK (excluding the Channel Islands and the Isle of Man).

What happens when you fail to repay on time

At Sainsbury’s Bank, we give you a repayment date that is close or rather after your payday. So, there will never be any reason to repay late. But when that happens, you will face penalties. You will be charged a late repayment fee of  £25.

We allow you to repay all or part of the loan at any time. But you will be charged an early settlement fee of 58 days interest on your remaining balance.

Getting hold of Sainsbury’s services

Whenever you need Sainsbury’s services you can get them by visiting any of our branches. You can also access them through our website, while you are in your comfort zone. For more information, you can call Sainsbury’s to speak directly with one of our consultants.

Customer Reviews & Testimonials

May 2019

Sainsbury Bank has the best loans in the UK and is easy to access

Brian U
— Sainsbury —

September 2019

Sainsbury’s Bank loans have the cheapest interest rates

Angel B
— Scotland —

Sainsbury’s Bank Contact Details

Physical Address

Opening Hours

  • Monday 08:00 – 22:00
  • Tuesday 08:00 – 22:00
  • Wednesday 08:00 – 22:00
  • Thursday 08:00 – 22:00
  • Friday 08:00 – 22:00
  • Saturday 08:00 – 19:00
  • Sunday 08:00 – 19:00