Sainsbury's Loans Reviews - www.sainsburysbank.co.uk

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Latest Reviews

★☆☆☆☆

“Double the advertised rate with excellent credit .... Poor”

Written on: 01/07/2016

What can I say. Have been a sainsburys customer for years. Applied for a loan and was given an illustration of 4.3%. Have my income details etc (which aren't too shabby). Got an actual 9.3% APR POOR treatment of customers will be your downfall!… Read Full Review

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★☆☆☆☆

“double the advertised rate then 8 days to send”

Written on: 16/06/2016 by goWoods371 (1 review written)

From start to finish what a shambles. I applied for a loan online and was asked for phone numbers. when i didnt include a home one it wouldnt continue so i had to make one up which then flagged it to the underwriters. I called up and they told me they would offer me the loan at 9.6 not 4.3 I asked what possible reason it would double as if i was a risk dispite a excellent credit score why give me the loan in the first place as charging me more would not diminish the risk. They refused to give… Read Full Review

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★☆☆☆☆

“Don't bother!”

Written on: 24/04/2016 by Kingy271 (2 reviews written)

Applied for a loan at 3.4% and was accepted then when the forms arrived it was 6.7% !!! I Have a very high credit rating and in full time employment with a good wage. Very deceiving! You have no idea of the rate until you receive the forms. Went with Nationwide at 4.3%… Read Full Review

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Kingy271's Response to Kingy271's Review

Written on: 24/04/2016

Sorry loan rate with Nationwide was 3.4%. All done online & money in account 24hours later. Great service :-)

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★☆☆☆☆

“Misleading do don't use”

Written on: 11/04/2016 by Chase1978 (1 review written)

Rate not as advertised - tried to offer 5.7% when the advertised rate is 3.3%. Definitely one to avoid… Read Full Review

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★☆☆☆☆

“Best way to ruin your Credit score”

Written on: 11/03/2016 by GavenStanton (1 review written)

Applied for a debt consolidation loan of 3.8% to beat existing 5.1% and shorten the existing term even though this would mean a slight increase in monthly outlay. Our credit scores are in the mid to high 900's. Steady jobs, etc... Offered 10.7%||| I nearly coughed out my teeth upon receipt of the paperwork (which is the only time you find out about the rate being offered in the whole process btw!) When I queried their decision I was offered 9.7% instead. Clowns… Read Full Review

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★★★★★

“LOAN FEEDBACK”

Written on: 27/02/2016 by Cole216 (1 review written)

I applied for a loan today with sainsburys loan adviser. I was so lucky to get him to help and advise me, he was so experienced and knowledgeable, friendly attitude and i must say had the patience of jobe. I can honestly say i have always had excellence service from sainsburys advisers, i highly recommend sainsburys to anyone that needs feedback on applying for a loan. I have also found their other services eg contents insurance, car insurance, you will find really hard to beat as their rates… Read Full Review

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★★★★★

“Applied for a £10K loan and got it within 7 days”

Written on: 05/02/2016 by kdmaj (1 review written)

I know people only really complain but wanted to say that i had a great experience with Sainbruys, even i was surprised. I'm self employed and got the headline 3.4% rate and the money very swiftly to buy a new car. In the end i didn't need the money and they were more than happy to accept the money back penalty free within their T&C's timeframe and i called back on the very last day (14 days from transfer btw). I'm very impressed and cannot fault them which even i'm surprised it was so… Read Full Review

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★☆☆☆☆

“Headline loan rate”

Written on: 29/01/2016 by Jonathan_leahy (1 review written)

They advertise a 3.4% loan rate, but in reality the actual rate is double that. Don't waste your time!!… Read Full Review

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★☆☆☆☆

“One word Awful!”

Written on: 29/01/2016 by Mickymuff (1 review written)

I applied for a loan of 18K as all the loan compare sites puts them to the top of the tree with there eye catching 3.XX% APR ? Anyhow I have a perfect credit rating and in the past have never had any trouble of any kind and in the past have had £25k loans all settled etc etc so expected none here I have been in the same job 30+ years own my own house 50K salary etc etc The blurb at the beginning says you will receive an instant decision like all loan sites do nowadays so all looked… Read Full Review

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★☆☆☆☆

“After researching loans to buy a new car it looked...”

Written on: 18/12/2015 by KeatonGilliam303 (1 review written)

After researching loans to buy a new car it looked like sainsburys bank came up with the best rate 3.4 percent so I applied online and was excepted but here is the catch,it came back on the documents with a rate of 6.8 percent,strange I thought so I called them up apparently the final rate is calculated by there amazing credit score system and mine came back at 6.8 so that was that,so undeterred I managed to lower it by 1 percent by haggling to 5.8 but still way of 3.4,I then suggested that all… Read Full Review

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★☆☆☆☆

“Refused credit, and my experian credit score is...”

Written on: 26/10/2015 by ronronron1235sgaqwd (1 review written)

Its in the title. My credit score is labelled excellent and yet sainsburys have refused my loan. As a result my credit score when lowered to "good" from "excellent", which has affected my ability to get the best loans on the market. I would avoid this company if you wish to protect your credit score… Read Full Review

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★☆☆☆☆

“Insulting APR”

Written on: 19/09/2015 by ChristinaHerndon136 (1 review written)

Again like others reviewing, only APR of 3.6% so i applied. Got the forms back to sign to find it was now 6.9%! Who, i repeat who is going to pay almost double APR. When i spoke to them i was insulted to find that i did not fit into the 51% of applicants who get the online rate. You know what i think i think they looked at my job (which is a good one) and thought, 'he can afford to pay more, lets chance our arm'. I shop with them too. I'd rather starve!… Read Full Review

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★★★★★

“Very satisfied customer!”

Written on: 25/08/2015 by clairew86 (1 review written)

I was concerned after reading the reviews on here as I had already applied for my loan and received a 'agreed in principle' response. I had already been declined a loan with nationwide, my own bank of 20 something years, despite a 'good' credit rating. However, having applied Monday night, I received the documents Thursday morning which confirmed the apr of 3.6% ( on quite a large sum of money). I returned the documents straight away and called on Saturday to check receipt. They received the… Read Full Review

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Graypay's Response to clairew86's Review

Written on: 06/05/2016

Did you have to have proof of purchase after you bought ya car or dont they bother checking thanks

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★★★☆☆

“Poor Communication”

Written on: 12/08/2015 by Ariele1964 (1 review written)

Applied for a loan of £2,000 for home improvements and the loan was accepted in principle. I reveived a e-mail asking me to call to cofirm details which I didn't get round to that day as was at work. They next day I received the loan agreement to sign and return with two letters one said the loan was agreed in principle and the other said to sign and return the agreement and the funds would be trasnferred on receipt. I have heard nothing else since apart from a e-mail saying that my… Read Full Review

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★★★★★

“No problems”

Written on: 31/07/2015 by CyrusPorter115 (1 review written)

I have to say after reading the reviews I was worried as I had already applied for a £5000 loan.. But all credit to Sainsburys I have not had any problems the application was easy, had a email confirming that I had been accepted in principle, 2 days after received forms to sign sent back via Special delivery they would of received them Wednesday and today Friday the money is in my bank account. Also got the 4.5APR Advertised Thank you Sainsburys… Read Full Review

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★☆☆☆☆

“Financial Omudsman next!”

Written on: 27/07/2015 by zqWard78 (1 review written)

Great advertising and super fast decision.....back in may! It is now the end of july and although i was accepted, sent forms and proof i never heard from them again and they refuse to speak to me following a complaint email. Meanwhile, i have signed a credit agreement AND provided total strangers with my bank details. I am now taking this to the Financial Ombudman. Avoid at all costs-you won't get the loan!… Read Full Review

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★☆☆☆☆

“Waste Of Time”

Written on: 26/07/2015 by Solomonc436 (1 review written)

I went through the loan application online. This was approved in principle. So I rang to find out what happens next. I was expecting a straight answer instead I was put through an interrogation. I was questioned on why I wanted the required amount and what for. I told them my outgoings again. I was questioned each time on why I wanted this amount. They actually lowered the amount I wanted. They kept me on hold and then asked me more questions and then refused me. What a waste online it said… Read Full Review

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★★★★★

“Really quick No Problems and the APR as advertised ”

Written on: 15/07/2015 by StuartPUK (1 review written)

I was recommended by a friend who had taken out a loan out with Sainsburys to use them for a new loan for myself. As soon as I I applied for the loan, i decided to Google some reviews and to my shock there seemed to be a great deal of negative reviews. However the paperwork was sent out quickly , I returned it, was thanked via email and then told that the money would be in my account within three days, in fact it only took one day for it to appear. Also I received the advertised 3.6% apr as… Read Full Review

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★☆☆☆☆

“I applied for a 7.5k loan which had an Apr rate of...”

Written on: 10/07/2015 by Compton171 (1 review written)

I applied for a 7.5k loan which had an Apr rate of 3.8%. Despite having an excellent credit rating and no other debts my application was declined. I then contacted them to ask for the main reason for which I was declined, which they could not answer. I was then told my application would be put under review and to check back in a couple of days for a final decision. When I contacted them after the two days I was told I could have the credit after all but with an Apr rate of 13.9%. When I asked… Read Full Review

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★☆☆☆☆

“V v slow”

Written on: 18/06/2015 by Jaquan421 (1 review written)

I'm very disappointed we applied for a loan Saturday morning only to recive a email Tuesday morning for a chat Tuesday night 45 minutes later loan accepted Thursday morning schedual arrived for signing posted signed Thursday night Monday night e mail recived we are waiting for your signed paper work so I tried to phone no go there 30 minute wait now it is 8 days on and still no further what a load of novices avoid at all cost… Read Full Review

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