What can I use a 10k loan for?
Our £10k unsecured personal loans can allow you to access funds for up-front payments. You’re able to set monthly repayments over 1-7 years, helping you to spread the cost of big purchases. From 6.2% APR representative for Nectar members when you borrow £7,500 - £15,000 for 1-5 years. Some of the common uses for a £10,000 loan include:
Your dream wedding comes with a whole lot of expenses – from the venue hire, to catering and the reception, there can be a lot to pay for up front before the big day. You could take out a wedding loan for £10,000 to help make your vision for your special day a reality.
Buying a car
New cars can be costly on their own, but tax, MOTs, insurance and other running costs can ramp the price up even further. With a £10,000 car loan, you can spread the cost over a few months or several years, making the car-buying process more manageable.
Major renovations can make your house feel like a home, but they’re a big financial commitment. Whether it’s modifying your kitchen, having a new bathroom suite fitted or doing a loft conversion, a £10,000 loan can help pay for the home improvements you want.
Find out more about home improvement loans.
Debt consolidation loans
From credit cards to loans, a £10,000 debt consolidation loan could be a really handy way to group together all of your existing debt into one single monthly repayment. This could make paying off debts more manageable over time and could reduce your monthly outgoings. However, be aware that you may end up paying more interest over a longer period of time.
Find out more about debt consolidation loans.
Before taking out your 10k loan
If you’re interested in taking out a £10,000 loan, you’ll need to consider:
- The term of the loan
- The monthly repayments you can afford
- The amount of interest you’ll pay
Loans of any kind are a big commitment, so it’s important to make sure you can afford the repayments before you apply. Failure to meet repayments on time could incur additional interest or impact your credit score.
10k Loan Repayments
We offer £10,000 loans which you can pay over 1-7 years if you’re a Nectar member or 1-5 years if you’re not. Generally, the longer your loan term, the lower your monthly repayments, but overall, the total repayable will be higher.
Use our loan calculator to find out how much your £10,000 loan could cost.
Your loan interest rate is affected by a few factors, including:
- Your credit score
- Affordability check
- How much you want to borrow
- The length of your loan term
- If you’re a Nectar member
The list above is not exhaustive. The APR we offer is determined by the details you supply and the loan you are applying for, along with an independent verification of your credit and repayment history.
How to apply for a 10k loan
You can apply for a £10k loan with Sainsbury’s Bank in a few simple steps.
- Use our loan calculator to determine your monthly payments and total repayable amount – use our eligibility checker to find out your interest rate and how likely you are to be accepted without affecting your credit score.
- Complete our online application in minutes – simply fill in your personal details, monthly income, bank details and details of any other credit. If you’re a Nectar member don’t forget to tell us your Nectar card number to access our best rates.
- If you’re accepted, you could receive your money in as little as two hours, or the next business day.
You’ll be able to upload any documents, change personal details and manage your loan account via online banking.
When you take out a loan with Sainsbury’s Bank, you’ll also get:
- A rate from 6.2% APR representative if you’re a Nectar member when you borrow £7,500-£15,000 for 1-5 years. (Other terms are available).
- The option to borrow between £1,000-£40,000 if you’re a Nectar member, and up to £25,000 for non-Nectar members.
- No application or arrangement fee.
Before you apply for a £10k loan, be sure to check out our lending criteria and exclusions here.
Looking for more information? We have a range of helpful loans tools and guides.