Thinking of switching an existing loan?

If you’ve got an existing loan, you might be able to save some money, simply by switching to a Sainsbury’s Bank Personal Loan. You can use the calculator below to find out how much you might save.

Switching is simple. You can apply online or via the telephone and if accepted you can use your Sainsbury's Bank loan to pay off your current loan including any early repayment charges.

Switching loans -
is it worth it?

Enter details of your current loan

The estimated savings we calculate are based on the details you provide. Please ensure you provide accurate information.

This is for illustrative purposes only and is not a quotation

Your Sainsbury’s Loan

This is for illustrative purposes only and is not a quotation

Please be aware that the rate we offer you will depend on your personal circumstances, our credit assessment procedures and other related factors.

Your results -

Back to your details

Based on you being offered the advertised representative APR, changing your current loan provider to Sainsbury’s Bank could save you money.

Total amount repayable with your current lender:


The total amount repayable with Sainsbury's Bank Loan:


So by switching you could save up to:


Your new monthly repayment would be:


Based on the information you have provided, making the switch to one of our Personal Loans will not save you money at this time. This may be for a number of reasons such as: the number of months left to repay on your original loan or the balance outstanding on your original loan. You may find that another Sainsbury's Bank product would be better suited to your needs.

Key Benefits of a Sainsbury's Bank Personal Loan

  • With our Price Promise you'll always get the best rate^ see terms & conditions below
  • Fixed rate repayments that can be tailored to suit your budget
  • Choice of repayment holiday at the start of your loan.#

The actual rate we offer may be higher depending on your personal circumstances, credit assessment procedures and other related factors.

# Interest will be charged between the start date of your loan and your first monthly repayment.

Please ensure this product suits your needs and you have considered that it is the right product for you.

You should:

  • Be aged between 18 and 80 years old and less than 83 when the loan is repaid
  • Have a bank or building society account that can accept Direct Debits. (If you are applying for a joint loan one of the parties must be named on this bank account.)
  • Have a permanent UK address
  • Be in paid employment, self-employed or retired with a pension
  • Have a gross annual income of over £7,500 (see what incomes we don't accept)
  • Not have a history of County Court Judgements or bankruptcy

^Price Promise Guarantee

Our Price Promise Guarantee means that if you are offered a like for like loan with a lower APR by another lender we will beat it by 0.1%. You must have qualified for our Personal Loan but must not have accepted our offer by signing and returning the loan agreement.

How to make a claim:

  • Carefully read the Price Promise Guarantee terms and conditions
  • Send a copy of the competitor loan agreement/ formal offer in the same name as your Sainsbury's loan to the address below.
  • Remember to quote your Sainsbury's loan agreement number.

Claims Address

Sainsbury's Loans
Price Promise Guarantee Claims
Loans Product Team
1st Floor
3 Lochside Avenue
EH12 9DJ

Price Promise Guarantee Terms and Conditions:

  • The Price Promise Guarantee ("the Offer") is only available to individuals who successfully apply for (and subsequently open) a Sainsbury's Personal Loan (“the Loan”).
  • Claims under the Offer must be received within 28 days after the Sainsbury's Loan has been approved.
  • Claims under the Offer will not be accepted after the Sainsbury's Loan offer has been accepted by signing and returning the Sainsbury's Loan agreement.
  • You must provide us with a written offer from the other lender in the same name as the Loan offered by Sainsbury's. In most cases a photocopy of the loan agreement will suffice but we may ask you to provide the original agreement. If you provide an original document, we will return this to you within 5 days of assessing your claim. Photocopies will not be returned and will be securely destroyed by us. Sainsbury's will verify the validity of your claim within 5 business days of receiving your request and notify you of the result.
  • A “Lower rate” means a lower Annual Percentage Rate (APR) of an alternative unsecured, fixed rate loan from a lender, compared on a “like for like” basis. We will assess “like for like” based on features such as, but not limited to, length of loan, fixed loan amount, repayment structure (including interest and set up fees (if any).
  • The Lower rate must be available to the general public and be verifiable by Sainsbury's. The Lower rate must have been offered and must still be available to you at the time of the claim.
  • The Offer does not apply to the following rate or loan types:

    - Loans where the funds are not available for immediate use
    - Discount rates offered only to members of groups or individuals who meet previously specified criteria;
    - Rates that are not immediately available, promotions that are not at everyday rates and products which are sold under different terms and conditions, such as special financing (i.e. dealer loans, promotional loans for specific goods);
    - Loans that are secured on land, investments or goods.
    - Any personal products being charged interest at a variable rate;
    - Any personal and non personal loan type products including but not limited to lease, contract hire, hire purchase or conditional sale agreements;
    - Loan agreements where interest has been temporarily or permanently suspended (including deferred payments and 0% loans for an initial period);
    - Loan agreements where the funds are to support periods of study, or the period immediately following completion of studies (for example, student loans or graduate loans).
  • If your claim is successful we will reduce the APR on your Sainsbury's Loan to below that of the alternative lender by 0.1%. e.g. If the alternative lender formally offers you a rate of 6.9% APR, your claim is successful and 6.9% APR is lower than our rate offered we will reduce our offer rate to 6.8% APR
  • We reserve the right to modify or cancel the Offer at any time without prior notice.

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