Sainsbury's Loans Reviews

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2.1 stars
Average rating for this product is: 2.1 out of 5

From 0 ratings and 6 reviews

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NameCredit RatingAPRTypical APRMin Loan AmountMax Loan AmountHome Owner  
Alliance & LeicesterGood8.00%8.00%£7,500.00£14,950.00No
Sainsbury's LoansGood8.00%8.00%£7,500.00£15,000.00No
Nationwide LoansBad7.90%7.90%£7,500.00£14,999.00No

Average Ratings for Sainsbury's Loans

  • Speed of Application3.8 stars
  • Customer Service2.8 stars
  • Value for Money2.7 stars
  • Overall rating2.1 stars

6 Reviews For Sainsbury's Loans

  • Guest 9th Aug 2009

    Reviewer rating: 1 stars


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    Having access to my experian report online and having fully checked my file before making an application i decided to apply so sainsburys to take advantage of their 7.9 rate. After filling out the form online i called and was told my app was with underwriter. Advisor came back to say it had been declined. No reason given. Asked to speak to underwriter and she refused. Told her decision was wrong. Credit score is excellent, no missed payments, no defaults and having used experians lower my bills function, they actually suggested that i would have no problems gettin the loan from sainsburys at the advertised rate!!! Very angry. Have written letter to ask for decision to be overturned and if not i want a FULL explanation and the "footprint" removed from my file. After reading so many reviews, it seems that this company never give out any loans and if they do its at a far higher rate than advertised. Be wary people

  • wikkid 11th Jul 2009

    Reviewer rating: 1.5 stars


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    Same about APR - read about 8.9% but got offered 11.9%.
    Sainsbury's loan service was good, but when i came to pay off the loan after only 4 months, i find that the entire interest is added to the loan upfront and i am still due more than i borrowed even though i have paid about £1200 in payments. The web-site clearly states that interest in added monthly, but this is not the case.
    Phoned to complain and will write also. Will keep posted about the outcome.

  • pjf 21st Apr 2009

    Reviewer rating: 0.5 stars


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    I applied for a Sainsbury's personal loan of £10000, advertised at 7.9 typical APR. I have a good credit score and public sector employment, and have lived at the same address for over 8 years. I have never defaulted on a payment or had any late payments. My loan WAS agreed but at a rate of 10.9 APR. I do not think these loans should be advertised at 7.9 APR when there seems to be no intention of getting the lower rate.

  • Guest 15th Apr 2009

    Reviewer rating: 2 stars


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    Got the Sainsbury's Loan to buy a car. Was given the courier option and handed a check when he came after signing the forms. Afterwards i noticed i had also signed for a credit card i had not requested. I have since cancelled the card. I also took out the insurance which covers difference between my insurance payout for a car and the loan total. But when i read the agreement it said only covers the car agreed on the agreement. but i hadn't agreed a car or even been asked this.

  • duuncan 12th May 2004

    Reviewer rating: 2.5 stars


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    Sainsburys Bank Personal Loans: Requirement for GOLD insurance can creep onto the form without you requesting it. This can push the costs up hugely, so a 6% loan can end up costing nearer to 20%
    Check the forms closely.
    They argue like mad when you try to exctricate yourself. Eventually folded, though

  • John. Rank: Lance Corporal 11th Oct 2002

    Reviewer rating: 5 stars


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    When I was buying a new car, I searched the internet for the best deal available. Sainsbury Bank offered one of the best rates available. The loan was agreed over the phone and arrangements made for a courier to deliver the cheque at my convenience. I was allowed a set time to examine the details and to accept the terms of the loan. A payment holiday was offered, deferring the start of the repayments for a three month period. There was a small payment to receive this service which supported my f ...

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  1. Loans