M&S Bank

Marks & Spencer Bank has a proud track record of assisting UK citizens without fail with their personal loan needs over the last nine years.

The best service clients can find

Backed by a banking licence and a board of directors and operating as a joint venture between HSBC and Marks & Spencer, M & S Bank assures high standards of service to clients.

M & S Bank is a registered bank that offers competitive interest rates to customers. Whether customers are borrowing 10, 000 or 25, 000 pounds, the bank offers affordable rates based on the APR.

The bank is under the jurisdiction of the Prudential Regulation Authority and is regulated by the Financial Conduct Authority. Marks & Spencer Financial Services plc is entered in the Financial Services Register and is served by highly trained staffing personnel.

High standards of Lending

M & S prides itself on fair standards of practice underwritten by its commitment to the Standards of Lending Practice document: They will provide you with information about their products and services and how they work, in a clear and understandable way.

They will endeavour to make sure their products and services offer, wherever possible, the flexibility to meet your needs. They will treat you fairly and reasonably at all times and make sure that you are provided with a high level of service. They will always aim to help you if they see, or you tell them, that you are having trouble financially.

Only bona fide UK residents qualify for a personal loan from M & S Bank.

Applicants must be over the age of 18 and earn more than 10,000 pounds a month to qualify for a personal loan. A personal loan from M&S Bank offers fixed monthly repayments, over a fixed period of time, making it easier for clients to manage their money

Example of the loan rates table (for existing customers):

• A loan amount from 1,000 pounds to 2,999 – can be subject to a 12-month to 84-month payment term – Illustrative APR = 21.8%. Maximum APR = 21.8%.
• From 3,000 pounds to 4,999 – can be subject to 12 -84-month payment term. – Illustrative APR = 18.8%. Maximum APR = 20.8%.
• From 5,000 pounds to 7,4999 - can be subject to 12-84 month payment term – Illustrative APR = 3.9%. Maximum APR = 9.9%.

Personal Loan Quote Tool

Clients can check whether they qualify for a loan through M & S Bank with their loan quote tool that can be located on their website. This Personalised Loan Quote Tool will do a credit check on each client’s credit file. Clients can go into the portal and click on the amount of the loan needed.

The applicant then chooses the repayment plan and indicates the purpose of the loan. The customer then inserts their contact information in the blocks provided and confirms the details. The loan can only be granted once an agreement has been signed by the applicant.