Sainsburys Bank Loans

Everything you need to know about Sainsburys Bank loans

Who Are Sainsbury's Bank?

Sainsbury’s Bank was initially founded in the late 90’s as a joint venture between Sainsbury’s and Bank of Scotland until 2014 when Sainsbury’s bought out Bank of Scotland’s share. 

Currently, they offer a range of financial services including loans, credit cards, savings accounts, insurance, mortgages, and more. 

Sainsbury’s Bank offers competitive rates so if you are in the market to compare loans they are worth considering. 

Who Can Apply For A Sainsbury’s Bank Loan?

In order to be accepted for a loan you will need to meet Sainsbury’s Bank’s lending criteria which is currently as follows;

  • Be at least 18 years of age

  • Under 80 when you apply and under 83 when the loan is due to be repaid 

  • Have a UK based bank or building society account that can make direct debit payments 

  • Have a permanent UK address

  • Be in permanent paid employment or be retired with a pension

  • Have an annual income of over £7,5000

  • Not have any history of CCJs or bankruptcy

How Much Can I Borrow?

With Sainsbury's Bank, you can borrow £1,000 to £25,000. However, Nectar members can borrow up to £40,000

How Long Can I Take A Loan For?

You can take out a loan with Sainsbury’s Bank over a period of 1 to 5 years. 

How Can I Get A Loan From Sainsbury’s Bank?

You can apply online, but before doing so you should use our tool to compare loans to see what other lenders might be an option for you. 

Plus, you will be able to use our free eligibility checker to see how likely you are to be accepted. 

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What Can I Use A Sainsbury’s Bank Loan For?

With a Sainsbury's Bank loan you can use your fund for a range of things, whether it's to consolidate existing debts, pay for a holiday, or some home improvements amongst other things. 


Sainsbury’s Bank does say that they will not lend for certain purposes, such as business uses, buying a property, a property deposit, investment purposes, or gambling. You should always check the loan agreement for any additional exclusions. 

How Long Does It Take For Sainsbury’s Bank Loan To Come Through?

If you apply online you will have the funds the next business day. 

You may be asked to provide evidence such as a bank statement, this may mean it takes slightly longer. 

If you sign a paper copy of your agreement it can take up to 5 working days to receive funds. 

Can I Pay Off My Loan Early? 

Yes, you can make overpayments or pay off your loan early. You will need to contact Sainsbury’s Bank directly and they will calculate the costs for you. 

Can I Change My Mind?

Yes, you will have 14 days to change your mind from the date you sign the loan agreement. If you do change your mind you will need to contact Sainsbury’s Bank directly.


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