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

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★★☆☆☆
1.9 / 5
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Latest Reviews

★☆☆☆☆

“Rate advertised was not rate offered”

Written on: 01/12/2017 by kjDoherty24 (1 review written)

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… Read Full Review

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★★☆☆☆

“3 weeks from application and still waiting”

Written on: 17/09/2017 by jqBentley424 (1 review written)

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!… Read Full Review

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★☆☆☆☆

“THE TRUST HAS GONE”

Written on: 16/08/2017 by Emiliaq490 (1 review written)

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… Read Full Review

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★☆☆☆☆

“Hook, Line and Stinker”

Written on: 15/08/2017 by ohWiley190 (1 review written)

Daughter applied for an attractive 3.7% rate and was approved online....3 days later the docs arrived and guess what? They offered a whopping 9.1%. She declined and got a great rate with the Nationwide at 4.5% within an hour of applying. So beware of Sainsburys dangling a juicy low-rate carrot and then when they reel you in serving up a vastly inflated rate. Not ethical, not professional, not appropriate way to treat people… Read Full Review

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★★★★☆

“No problems! ”

Written on: 07/08/2017

My husband applied on-line on the Thursday morning. Approved in principle was the message received. Subject to a few other checks. The following day an email confirming offer in principle arrived. No mention of interest rates at all. An 18k loan over 5 years- for a new car. On Monday another email arrived stating approved in principle. Then Tuesday the paperwork arrived and the rate offered was the advertised 2.9%. Paperwork sent back Wednesday - no communication but funds in the bank the next… Read Full Review

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★☆☆☆☆

“change of APR beware”

Written on: 19/05/2017 by bowyer1980 (1 review written)

Not impressed lured in on 2.9& interest rate to wait three days for PPW that then says 10.2% APR!!! Then when I called the call centre they say " o if your not happy let me have a look OK we can offer 9.2%!!" This is not good practice and I am very surprised that it can be allowed to happen off to the high street may pay a bit more 3.6% but at least you know what your getting. I will make sure I tell all friends and family so they are not stung by this underhand practice… Read Full Review

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★☆☆☆☆

“Shameful and disingenuous! Never use them!”

Written on: 01/02/2017 by 328Simmons (1 review written)

Just about every review I saw said the same thing. Advertised rate isnt what you actually get offered. Fortunately, I read some of the reviews and applied to TSB while waiting days for Sainsbury's paperwork to arrive. I had the loan with TSB in my account the same day the paperwork arrived from Sainsbury's even though I started the process 3 days later! TSB did give the rate they advertised 2.9% not like Sainsbury's who said 2.9% but then offered 5.3%. They should stick to supermarket work… Read Full Review

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★☆☆☆☆

“The advertise rate changes when you apply for loan”

Written on: 08/01/2017

Shame on you Sainsburys! Sharp practice, the advertised rate changes when loan applied for, Come on FSA crack down of this shameful, deceitful practice!… Read Full Review

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★☆☆☆☆

“Waste of time!”

Written on: 20/12/2016 by IRRT (1 review written)

Really disappointed with Sainsburys this time round. After having previous loans with Sainsburys, never missing a payment and overall a good credit score with a healthy income I was extremely disappointed with a confirmed 13.4% APR rate. I received a better % rate all those years back when I had no credit rating. When questioned about the rate strategy I was told they couldn't release that information. I can only assume that when the stores suffer, the loans get hit with the extra percentage… Read Full Review

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★★★★★

“Personal Loan for Home Improvements”

Written on: 19/12/2016

Have just taken out a Sainsbury's personal for some home improvements and can say that from starting the online application to the money being in the bank took less than a week. Sainsbury's staff were very good in keeping me informed in its progress and made the application very straight forward… Read Full Review

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★☆☆☆☆

“SO BAD”

Written on: 11/10/2016 by LanaBates (1 review written)

It taken over 10 days for a loan,take two days for paperwork to be sent 2 day to get it back.They don't work weekends,then to top it off the use BACs which can take another 3 -5 days so if your in no rush leave yourself the best part of two weeks or than that don't touch. Other companies electronic paperwork agreed,bank transfer with two hours money in your bank. Staff very helpful need to invest in some proper IT and start getting these Monday to Friday staff to work weekends ,retail 24/7… Read Full Review

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★☆☆☆☆

“Do Not use”

Written on: 08/09/2016 by tonyleach8162 (1 review written)

Rates are not what advertised, they take ages to even consider your loan, they agree in principal, then change the rate on the paperwork, withdrew my application went RBS approved straight away. Do not use Sainsburys for a loan They may be good as a supermarket but useless in finance. Should have checked them on here first… Read Full Review

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★☆☆☆☆

“Deceitful and disgraceful practice”

Written on: 06/09/2016 by Putnam441 (1 review written)

Applied for a loan at sainsburys bank and it started out at 3.3% and it ended up at 7.5% but I could not be given a reason why. I have a good income, no loans, no outstanding credit card balance and just paid off my mortgage. After I turned down their offer down they had the cheek to offer to match any other Loan offer I should get, if I show them written proof. I don't think so! They should not offer a loan rate at the start and then present you with another rate at the end without giving… Read Full Review

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★☆☆☆☆

“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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