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Loans customer support

Loans Frequently Asked Questions

How can I apply?


If you're looking for a new loan with us you can apply online. If you need help with your application, please call us.

You'll usually get an instant decision on your application.

When do I get the money?

Signed your Loan Agreement online?

If you've signed your Loan Agreement online, you'll have your money the next business day at the latest.

If we asked you to upload a bank statement when you signed your loan agreement online, we'll do our final checks and be in touch if we need anything else. Once we have everything we need you'll get your money the next business day.

How do you decide who you give loans to?

Like most lenders, we use credit scoring and affordability checks to assess the loan applications we receive. This includes the information that:

  • you give us on your application form
  • we have about you (if you're already a customer)
  • is held on your credit reports.

What can I do if my application is declined?

If you're not happy with our decision then you can write to us at the address below. We'll give you a detailed explanation of how we assessed your application.

Underwriters (CLS Appeals)
Sainsbury's Bank
PO Box 4955
BN11 9ZA.

If you want to see your credit report you can get a copy from these companies:

Experian Ltd
PO Box 9000
NG80 7WF

Equifax Ltd
Customer Service Centre
PO Box 10036

Consumer Services Team
PO BOX 647
Unit 4

What will my APR be?

Your personal APR depends on a number of factors, including your personal circumstances and credit assessment.

At least 51% of customers who are accepted for a loan will be offered our Representative APR. All other accepted applications will be offered a higher rate.

How much can I borrow?

Any amount from £1,000 to £40,000

What can I use the loan for?

You can use your loan for pretty much anything – to buy a new car, make some home improvements or consolidate your debt.

There are a few things you can't use your loan for:

  • To buy or finance timeshares
  • To buy a UK or foreign property or pay any associated costs (eg stamp duty)
  • To finance a limited company
  • For business purposes
  • To invest in the stock market
  • For gambling
  • For illegal purposes
  • As a deposit to support a mortgage application with any lender
  • To repay negative equity or to pay off any part of a mortgage
  • To refinance a loan arranged through the student loan company

If you were asked to apply for this loan by someone else, maybe to make an investment or to pay fees related to cryptocurrency, this could be a scam. We do not lend for investments, including in crypto, and you should not take out a loan on another person’s request.

How is interest charged on my loan?

Your interest rate is fixed and guaranteed for the whole term of your Sainsbury's Bank Loan. Interest at the annual interest rate is calculated each calendar day and is added to your loan monthly.

Will my monthly repayments change?

No, your repayments are fixed for the duration of your loan.

Can I change my mind?

Of course, you've got 14 days to change your mind about a personal loan. After that, you'll be bound by the terms of your loan. If you decide your loan is not right for you within 14 days, give us a call on 0800 096 0543. We're here Monday to Friday 8am – 8pm and Saturdays and Sundays 8am – 6pm.

Calls may be recorded for security purposes and monitored under our quality control procedures. Calls are free from a landline and from a mobile when calling from the UK.

What's a credit search?

Lenders will usually carry out a search on your credit report to help them assess your credit history before they make the decision to lend to you. During this search, credit reference agencies will give them information about your credit history based on your name and address. 

This leaves a footprint on your credit record so that other lenders will know that you've recently applied for credit if they search your record.

If you're thinking of taking out a loan with us, before applying use our loan calculator to find out how likely you are to be accepted, and the rate we might offer you, without affecting your credit score.

What is Representative APR?

It's the interest rate we offer at least 51% of our customers. We show it to help give you an idea of the interest rate you could get. 

However, the APR you're offered might be different from our Representative APR. That's because we treat every application on an individual basis and the rate we offer you depends on a number of factors including your personal circumstances and credit assessment.

How do I make repayments?

You must make your monthly repayments by Direct Debit.

How can I improve my credit rating?

Here are a few things you can do:

  • Make all your regular payments on time. If you missed a credit card, mortgage or loan payment (or even a utility bill), it could be registered on your credit report and affect your chances of getting credit in the future.
  • Check that you're registered on the Electoral Roll at your current address: Lenders use this to confirm your name and address.
  • Check the information on your credit report is accurate and up to date. Dispute anything you don't agree with. If you've financial links to people on your credit report which are no longer correct − for example, if a former partner is still shown as a financial associate − ask for them to be removed
  • Don't apply for lots of cards, loans, or other credit products, at the same time. Try to spread out your credit applications and investigate any credit refusal before you apply elsewhere.


What is a credit reference agency?

A credit reference agency is an agency which collects and stores information about people in the UK. It creates credit reports using information from credit card companies, banks and other public records.

Can I change my direct debit details?

Of course, once your first payment has been made, you can send us a message through online banking or just contact us if you need to change your Direct Debit details.

What does APR stand for?

APR stands for Annual Percentage Rate. This shows how much you'll be charged for borrowing in an average year, over the period of your loan. To see an example APR in terms of how much money you'll need to repay, you can use our loan calculator.

Is having a joint account different to having an account just in my name?

There are some differences between joint and single accounts. If you take out a joint loan then the Terms and Conditions apply to everyone named on the account – as a couple and as an individual. That means we can claim the amount you owe us back from you as a couple or as an individual. This doesn't change if you're no longer in the relationship.

If one of you dies, their estate will be responsible for repayment of the loan along with the other joint account holder(s).