Sainsbury's Loans www.sainsburysbank.co.uk

Definitely not recommended unless extremely needed. They probably know this.

Not only high interest rate but if you want to settle the loan, they take all the interest and add to your balance more money ??? for compensation

I applied for an online loan with Sainsbury’s as they advertise a good rate at 4.8% for Nectar card customers. I was told I could take out a loan over a period of five years at 4.8%. But when you apply for the loan online a soft search is done and it comes back with a higher interest rate than advertised with an interest rate at 9.9%!! So just be aware if you apply for a loan!!

Came to the end of the loan. So I wanted to double check if I can stop my DD.

My fault that I've not changed my address but I gave him all the details old and new and the advisor was no help at all. In the end has blocked me after asking me a total of 9 security questions and asking me the same question up to 3 times. He could tell I was stressed out and I suffer from anxiety and not feeling great and he enjoyed stressing me out today.

Shame I would of topped up my loan.

I took out a loan for home improvements. My credit is excellent, I have a good income and the advertised rate changed after the loan was applied for which meant further searches would have messed up my credit. In no other consumer setting would this be ethical or fair. I am tempted to write to the FCA. This should be like the PPI scandal. The worst part of it is even when trying to settle you get a 30 day interest applied as well as the interest to date. In other words it costs you to settle early - no rebate.

I used to do my weekly shop at Sainsbury's but after this I have stopped and stopped using my nectar card. A horrible and deceptive bank and I will never give them my business again.

Needed a loan for 12k to purchase a car, i have mortgage with santander so decided to apply with them. Took 7 days to get letter saying they offer 8.9 when advertised 2.8%. I then applied to sainburys and was offered 2.8% and agreement signed within 5 minutes of applying. Read the agreement which confirmed 2.8 % and money was in my account in 20 minutes. Reading all the bad reviews here after spending the money I thought they would change the APR as others have mentioned here. However i rang them and the confirmed that the 2.8% was the rate offered after the checks so not changing. Overall impressed with the experience but it was stressful thinking the apr would change after spending the money.

Sainsburys Bank is the worst bank in the UK FOR Personal Loans

Go to Hitachi Finance if you need a Loan, Hitachi are head and shoulders better

and much more Proffesioal than Sainsburys Bank

Sainsburys Bank interest rate is 3 times higher than Hitachi Fiance

There was nothing I liked about my brief experience with Sainsbury Bank

Never Again

I have only just noticed that my interest rate is now 8.2% and not 2.9% as I had applied for. The customer service manager pointed out small print someway underneath the "apply now" button which states interest may be adjusted after application to up to 25% due to individual circumstances. Well I have a 100% perfect credit score, I am employed by the emergency services, hence no risk. There is absolutely no reason why this interest is adjusted and purely a slight of hand fiddle which I'm sure many people have unwittingly fallen foul to. I have escalated my complaint further and if is not successful I will be writing to the financial ombudsman. I urge everyone to do the same.

Rate advertised was 2.7% but offered 6.3%. They could not explain why I was offered this rate as they did not have the criteria to hand to explain who gets the lower rate.

I applied for a loan 3 weeks ago. It took a weeks for checks, received paperwork and signed and sent off. Just informed it is being checked yet again and despite signing the paperwork the loan is still in principle?!

Am informed that I will need to call back on Monday and then it will take 3-5 working days.

Interest rate doubled from the advertised.

Wish I had never bothered!

waited 3 days to be told i could have the loan but at a different rate when i know my credit rate was spot on what a waste of time got a loan with m&s in 3 hours at there advertised low rate very disappointed think i will be shopping else where.