Underhand tactics & no rebate for early settlement

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KoltenHahn's review of Sainsbury's Loans www.sainsburysbank.co.uk

★☆☆☆☆

“Underhand tactics and no rebate for early settlement”

Written on: 17/05/2022 by KoltenHahn (1 review written)

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.

  • Awful - higher than the advertised rate even if you have good credit and a good income

    Loan Rate

  • Speed of Application

  • Customer Service

  • Value For Money

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