Sainsbury’s Bank are no longer accepting new loan applications from new or existing customers. Sainsbury’s Bank have stated that if you are an existing customer, no immediate changes will be made to your current products or services. Compare alternatives here.
With Sainsbury’s loans you can request a two-month repayment holiday at the start of the loan. This can buy you time to get back on your feet financially, but it pushes up the monthly and overall cost of borrowing. We’ve based our calculations below on the assumption that you won’t use the repayment holiday. We also assume that you don’t repay the loan early.
To make comparing even easier we came up with the Finder Score. Speed, features and flexibility across 60+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.
Read the full methodology
Maximum loan
£40,000
Product fee
N/A
Early redemption fee
Yes
| Loan amount not specified | |
| Loan terms | From year to years |
|---|---|
| Age eligibility | Age eligibility not specified |
| Application fee | No application fee |
| Repayment holiday | Repayment holiday not permitted |
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 will, however, need to have a Nectar card. It’s completely free, just ask at the checkout for one and it’ll help you bag those reduced interest rates.
With its 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.
Sainsbury’s previously offered a price match guarantee if another lender formally offered you a loan at a better rate (it’s not enough to simply show an advert you’ve seen with a better APR). There’s no longer any mention of this on the site, however.
The upper limit of 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.
Sainsbury’s Bank offers unsecured personal loans, meaning they’re based on creditworthiness, rather than using property, vehicles and other assets as collateral. While Sainsbury’s rates are definitely competitive, the advertised 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.
Here’s the typical process for taking out and repaying a Sainsbury’s loan:
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.
Though Sainsbury’s loans tend to have a very competitive APR, this is usually a sign 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. Sainsbury’s is only obliged to award this rate to 51% of its borrowers – 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.
You should only apply for a Sainsbury’s Bank personal loan if you’re happy that you can meet the repayment schedule outlined. You must also:
In our independent 2025 customer satisfaction survey, 87% of Sainsbury’s users said they’d recommend the brand to a friend. Customers highlighted the bank’s great customer service, competitive rates and easy application process.
One customer said: “Easy and same day payment, affordable monthly pay back and no hassle”. Another praised the “good rates” and “flexible payment plan”.
You can contact customer support on 0800 056 0565. Lines are open Monday to Friday 8am – 8pm and Saturday 8am – 4pm. If you’re struggling to pay, you can call 08085 405060. Lines are open Monday to Friday 8am – 7pm, and Saturday and Sunday 8am – 5pm.
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