Loans Frequently Asked Questions

How can I apply?

Online now and get an Instant decision. Or by calling 0800 169 8503* quoting INTNEW. Once you've applied, you'll be sent an agreement to read, sign and return.

How much can I borrow?

Any amount between £1,000 and £25,000

What does APR stand for?

APR typical (Annual Percentage rate) is the interest rate we give to the majority of customers for a particular amount. On occasions we may offer a different APR, based on personal circumstances.

How do you work out if you can have a loan?

We assess applications by using credit scoring. Each piece of information you provide on your application is given a score - which we add up to decide whether we will offer you a loan.

What is a credit search?

A search that assesses your credit history carried out on your name and address. The search is done by a Credit Reference Agency.Our search will be noted against your name to make other lenders aware we have requested information on you.

What is a credit reference agency?

An agency that collates and stores information on individuals in the UK. The details are sourced from lenders such as Credit Card companies, Banks and from other publicly available records.

What can I do if my application is declined?

If you're unhappy with the decision you can write to us. We'll provide you with an explanation as to how your application has been assessed.

You can also get hold of a copy of your credit history from CAIS (Experian) by sending a cheque for £2.00 to:
Experian Limited Consumer Help Service PO Box 8000 Nottingham NG1 5GX

Or from Insight (Equifax) from the following address: Equifax (UK) Ltd Credit File Advice Centre PO Box 1140 Bradford BD1 5US

Can I apply again if I am declined the first time?

We will be happy to consider another application after a period of 6 months.

How can I improve my credit rating?

• Make sure you're on the electoral register.
• Lenders use the electoral register to confirm your name and address.
• Make sure that you and other family members always pay your bills on time. When you apply for credit, a lender will see information relating to you and other family members. This may affect their decision. If you are estranged from your family, you can ask the agency to separate the files.
• Don't keep applying for credit if you have been turned down. All the applications you make appear on your file. If you keep applying and then get turned down, you may look desperate for money, or even worse, as though you're committing fraud.

Once we have approved your application, we'll send your agreement out by first class post. You will need to check all the details and sign the agreement as well as the Direct Debit mandate.

When do I get the money?

If your online loan is approved a cheque will be issued to you by post. If you choose the optional courier service an additional payment of £59 will be payable 1 month before your first payment.

What can I use the loan for?

Your Sainsbury's personal loan can be used for virtually any legal purpose like a new car, holiday, home improvements or debt consolidation. However, we won't give loans for speculative purposes and timeshares.

What if I want to borrow more?

Just give us a call on 0800 096 0543* and we'll happily discuss it.

Can I change my mind?

Yes, you have 14 days to change your mind about your personal loan. If you do decide you no longer want it simply call us on 0800 096 0543* (Mon to Fri 8am - 10pm, Sat 8.30am - 6pm, Sun 9.30am - 5.30pm). If after 14 days you haven't contacted us, you'll be bound by the terms of your loan.

Will my monthly repayments change?

No, our rates are fixed for the term of the loan. Which means once you've arranged it all, your repayments will stay the same regardless of interest rates making it easy to plan ahead.

Can I defer payment?

Yes. We give you the opportunity to take a repayment holiday of 3 months at the start of your loan. **

How do I make repayments?

The money will be taken from your nominated account by Direct Debit and paid into your loan account. So you won't have to worry about posting cheques on time.

Can I choose my monthly repayment date?

After you have made your first repayment, simply call us on 0800 096 0543* and let us know your preferred payment date.

How can I find out how much I still have to pay?

If you ever want to find out the outstanding balance of your loan account, simply call us on 0800 096 0543.*

How do I get a Nectar card?

• Visit your local Sainsbury's to pick up a pack, fill in the registration form and send it off to the address provided. A Nectar card is included in the pack, so you can start using it almost immediately; however, you will need to activate your card online at the  Nectar website
• Apply online at the Nectar website. Registering will only take a few minutes, and a card will be sent out to you straight away.