M&S Bank Loans

Your guide to everything you need to know about loans from M&S Bank.

Who Are M&S Bank?

Marks & Spencers Bank is a retail bank in the UK. It was originally set up by Marks & Spencers in the 1980’s but since the early 2000’s it has been owned by HSBC. 

Currently, M&S Bank offers a number of services including loans, credit cards, insurances, and travel money amongst other things. 

They currently offer some of the most competitive loan rates in the market, so you should make sure you check them out when comparing loans. 

Who Can Apply For A M&S Bank Loan?

As with all providers you will need to meet M&S Bank’s eligibility criteria if you want to be accepted for a loan, this is as follows; 

  • Have an annual income of at least £10,000

  • Be a UK resident 

  • Be aged 18 or over

Meeting this criteria does not mean you will be accepted as they will look into your personal circumstances, your credit history, how much you wish to borrow, and how long you wish to borrow for. 

How Much Can I Borrow?

You can borrow between £1,000 and £25,000 with a loan from M&S Bank. 

How Long Can I Take A Loan For?

With M&S Bank your loan term depends on how much you wish to borrow. You can borrow up to £20,000 from 1 to 7 years and £20,001 to £25,000 from 1 to 5 years. 

How Can I Get A Loan From M&S Bank?

You can apply for a loan from M&S Bank online, however, we recommend that you compare loans first to see the best offers available to you and make use of our free eligibility checker to see how likely you are to be accepted. 

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What Can I Use A M&S Bank Loan For?

As an M&S Bank loan is a type of personal loan there are many potential uses, such as buying a new car, debt consolidation, paying for a wedding, or some home improvements. 

You should check the terms for any uses they exclude. 

Why Should I Borrow From M&S Bank?

M&S Bank is a reputable name and is backed up by HSBC and there are a number of other reasons why you may want to borrow from them. 

  • You can borrow up to £25,000

  • You can borrow from 1 to 7 years

  • Fixed monthly repayments to help manage your money 

  • You can make overpayments free of charge

How Long Does It Take For A M&S Bank Loan To Come Through?

M&S Bank aims to contact you with a decision within 48 hours. If you are accepted and return a signed agreement they aim to get funds to you within 3 days. 

Can I Pay Off My Loan Early? 

Yes, with M&S Bank you can request a settlement figure by calling them. You are also able to make overpayments free of charge by calling their customer service team. 


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