Sainsbury’s Bank loan calculator

Use our Sainsbury's loan calculator to see how much you'll pay back on a Sainsbury's personal loan - and then see whether its competitors offer a better deal.

Sainsbury's Bank

Use our Sainsbury’s loan calculator to see how much you’ll pay back on a Sainsbury’s personal loan – and then see whether its competitors offer a better deal.

Offering enhanced rates or benefits for Nectar cardholders, Sainsbury’s Bank has become a popular choice for fixed-rate personal loans and credit cards. However with the price wars extending beyond supermarket shelves into financial products such as these, there are savings to be had by shopping around for the best deal.

Our calculator lets you pick how much you want to borrow, and how long you’d like to borrow it for, to estimate how much you would pay back each month and overall. We base our calculations on Sainsbury’s Bank’s representative APR, but it’s important to note that credit is subject to status and your circumstances may affect the rate you’re offered.

Sainsbury’s loan calculator

Table: sorted by representative APR, promoted deals first
Name Product Total Payable Monthly Repayment Representative APR
Representative example: Borrow £10,000.00 over 3 years at a rate of 2.9% p.a. (fixed). Representative APR 2.9% and total payable £10,447.20 in monthly repayments of £290.20.
Representative example: Borrow £10,000.00 over 3 years at a rate of 3.9% p.a. (fixed). Representative APR 3.9% and total payable £10,601.64 in monthly repayments of £294.49.

Compare up to 4 providers

Important information:
You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

warning icon Warning: late repayments can cause you serious money problems. See our debt help guides.

How do Sainsbury’s Bank loans compare against the competition?

Table: sorted by representative APR, promoted deals first

Before you take out a personal loan, it’s smart to read up and shop around. You can use the table below to see how much you’d be likely to pay for the loan you have in mind.

Name Product Total Payable Monthly Repayment Representative APR
Representative example: Borrow £10,000.00 over 3 years at a rate of 5.5% p.a. (fixed). Representative APR 5.5% and total payable £10,848.60 in monthly repayments of £301.35.
Representative example: Borrow £10,000.00 over 3 years at a rate of 3.4% p.a. (fixed). Representative APR 3.4% and total payable £10,524.24 in monthly repayments of £292.34.
Representative example: Borrow £15,001.00 over 3 years at a rate of 3.1% p.a. (fixed). Representative APR 3.1% and total payable £15,718.32 in monthly repayments of £436.62.
Representative example: Borrow £10,000.00 over 3 years at a rate of 3.4% p.a. (fixed). Representative APR 3.4% and total payable £10,524.24 in monthly repayments of £292.34.
Representative example: Borrow £10,000.00 over 3 years at a rate of 2.9% p.a. (fixed). Representative APR 2.9% and total payable £10,447.20 in monthly repayments of £290.20.
Representative example: Borrow £10,000.00 over 3 years at a rate of 3.9% p.a. (fixed). Representative APR 3.9% and total payable £10,601.64 in monthly repayments of £294.49.
Representative example: Borrow £10,000.00 over 3 years at a rate of 2.9% p.a. (fixed). Representative APR 2.9% and total payable £10,447.20 in monthly repayments of £290.20.
Representative example: Borrow £10,000.00 over 3 years at a rate of 3.9% p.a. (fixed). Representative APR 3.9% and total payable £10,601.64 in monthly repayments of £294.49.

Compare up to 4 providers

Important information:
You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

If you’re considering a Sainsbury’s loan, the good news is that you don’t have to be an existing customer of Sainsbury’s Bank to apply. You’ll want to have a Nectar card however – it’s free to get yourself one (just ask at the checkout) and it’ll help you bag a reduced interest rate.

Sainsbury’s also offers a price match guarantee if another lender formally offers you a loan at a better rate (it’s not enough to simply show an advert you’ve seen with a better APR).

The upper limit of £40,000 is higher than the more standard £25,000 for unsecured loans. This can make a Sainsbury’s loan an appealing bet for heftier expenditures – perhaps a loft conversion or an extension – but you’ll need decent credit and, more importantly, you’ll need to be able to comfortably be able to afford the repayments, to get your application across the line.

Like most lenders, Sainsbury’s now offers a soft-search tool so you can get a good idea whether or not you’ll be approved before you apply, without hurting your credit score.

Key features of a Sainsbury’s personal loan

Sainsbury’s Bank offers unsecured personal loans, meaning they’re be based on creditworthiness, rather than using property, vehicles and other assets as collateral. The loans are available over a period of 1-7 years for loans between £1,000 and £40,000.

While Sainsbury’s rates are normally competitive, the representative APR may not be the rate you’ll receive: Sainsbury’s will offer you a rate based on assessment of your personal financial circumstances.

  • Borrow from £1,000-£40,000 over 1-7 years
  • Fixed monthly repayments. Because the interest rate is fixed, you’ll pay the same amount each month and you’ll know upfront how much the loan is going to cost overall.
  • Improved rates for Nectar card holders.
  • Quick access to funds. If your application has been completed and accepted online, your loan should be transferred immediately.
  • Price match. Sainsbury’s will beat a ‘like for like’ loan APR from another provider.
  • Early repayments. Pay back your some or all of your loan early at any time.
  • Option to defer repayments for two months. Defer your repayments for the first two months so you can get your finances in shape before you start paying back. Bear in mind your loan will still accrue interest during this time, so it would cost more overall.

What is APR?

The Annual Percentage Rate (APR) is a figure that all lenders have to calculate in the same way, which is designed to provide an annual summary of the cost of a loan. It takes into account both interest and any mandatory charges to be paid (for example an arrangement fee) over the duration of a loan.

Sainsbury’s loans tend to have a very competitive APR – which is usually an indication that you’ll need a decent credit score to get approved – especially for larger loans.

The APR can provide a handy benchmark for comparison (alongside other factors like the monthly and overall cost), but there is a catch. Lenders are only obliged to award this rate to 51% of those who take out the loan – the other 49% could pay more. That’s why it’s often referred to as the representative APR. The rate you’re ultimately offered will depend on factors like the amount you apply for, the term of the loan, your credit rating and your income.

Am I eligible for a Sainsbury’s personal loan?

You should only apply for a Sainsbury’s personal loan if you’re certain you can meet the repayment terms, and you meet the following criteria:

  • Age. Aged between 18 and 76 years old.
  • Address. You’ll need to provide 3 years of address details.
  • Income. You must have a regular income. Benefits are not considered an acceptable source of income.
  • Employment. You must have been employed by your current employer for over 3 months.
  • Credit history. You must not have been declared bankrupt in the last 6 years.

How it works

  1. Decide how much to borrow. Use Sainsbury’s online calculator to work out the size of personal loan you want.
  2. Fill in the application form. You have the option to complete your application online, or it can be posted to you.
  3. Await your decision. Sainsbury’s will assess your application by running affordability and credit checks.
  4. Receive your loan. Apply online and once accepted your loan should be transferred immediately. If your application was completed via post then it can take 1-5 days for payments to go through.

Frequently asked questions

Post Office Money® Personal Loan
Post Office Money® Personal Loan
APRs from 3%
(on loans between £15,001 and £25,000 over 12-84 months).

Representative example: Borrow £15,001.00 over 3 years at a rate of 3.1% p.a. (fixed). Representative APR 3.1% and total payable £15,718.32 in monthly repayments of £436.62.

M&S Bank Personal Loan
M&S Bank Personal Loan
APRs from 2.8%
(on loans between £7,500 and £20,000 over 12-36 months).

Representative example: Borrow £10,000.00 over 3 years at a rate of 2.9% p.a. (fixed). Representative APR 2.9% and total payable £10,447.20 in monthly repayments of £290.20.

AA Non-Member Loan
AA Non-Member Loan
APRs from 3%
(on loans between £15,001 and £25,000 over 12-84 months).

Representative example: Borrow £10,000.00 over 3 years at a rate of 3.1% p.a. (fixed). Representative APR 3.1% and total payable £10,478.16 in monthly repayments of £291.06.

Shawbrook Bank Personal Loan
Shawbrook Bank Personal Loan
Personalised rates with representative APR 12.9%

Representative example: Borrow £10,000 over 5 years with representative APR 12.9% (fixed) and total payable £13,405.80 in monthly repayments of £223.43.

We exist to help you find better. The offers we've compared on this page are from a range of products whose details we can track; we don't cover every product on the market...yet. Unless we've indicated otherwise, products are shown in no particular order or ranking. The terms "best", "top", "cheap" (and variations of these) aren't product ratings, although we always explain what's great about a product when we highlight it; this is subject to our terms of use. When you make major financial decisions, it's wise to consider getting independent financial advice. Always consider your own financial circumstances when you compare products so you get what's right for you.

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