M&S Bank Loans

What loans does M&S Bank offer?

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M&S has been offering loans since 1989, and today you can take out an M&S Bank loan of between £1,000 and £25,000

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M&S Bank began as St Michael Financial Services, launching in Chester in 1985. It changed to Marks and Spencer Financial Services Limited in 1988, and launched its first personal loans in 1989.

M&S Bank opened its first branch in Marble Arch in 2012 and offers an array of financial services, including personal loans, mortgages, credit cards, and multiple insurance products.

What loans can I get from M&S Bank?

M&S Bank loans come in amount from £1,000 to £25,000, and you’ll be able to use their loans for anything from buying a car or improving your home to paying for a wedding.

What interest rate will I get with an M&S Bank loan?

You’ll get a fixed interest rate with loans from M&S Bank, which means the amount you pay back towards the loan each month will stay the same. This can be helpful when budgeting your payments as you’ll always know how much you should set aside every month.

The maximum APR you can get on an M&S Bank loan is 18.5%. However the advertised APR on any deal only needs to be offered to 51% of successful applicants.

The actual rate you’ll be given if your application is successful will depend on a number of factors, including how much you want to borrow and for how long.

Representative example: If you borrow £5,000, you would make 36 monthly payments of £146.60. The total amount repayable is £5,277.60. Representative 3.6% APR, 3.6% (fixed) p.a..

How long do M&S loans last?

If you’re taking out a loan between £1,000 and £20,000 you can do this over a period of one to seven years. However, for loans between £20,001 and £25,000 the term will be between one and five years.

You might have the option of deferring your loan payments for up to three months, however, interest will still be paid throughout the duration of the loan term.

How to contact M&S Bank

You’ll be able to contact M&S Bank via:

Online: through the internet banking app

Phone: 0800 997 996 (applications)

0345 900 0900 (customer services/complaints)

0800 363 459 (internet banking)

Post: M&S Bank

          PO Box 10565

          51 Saffron Road


          LE18 9FT

How to apply for an M&S Bank loan

You’ll be able to apply for an M&S Bank loan by phone, online, or in your local branch. When you apply, be sure to have the following information at hand:

  • Details about your employment
  • Your bank or building society details, including your account number and sort code
  • Your monthly incomings and outgoings
  • Your email address
  • Your address details covering the last three years

Can I take out a second M&S Bank loan on top of my existing one?

You may have the option of taking out a second loan, or taking out a loan to repay your existing loan as well as providing you with additional funds. You should call M&S Bank to find out more.

Do I qualify for an M&S Bank loan?

To qualify for an M&S Bank loan, you should be:

  • Over 18 years old
  • A UK resident
  • Earning at least £10,000 a year

Compare loans with MoneySuperMarket

An easy way to find a better deal on your personal loan is by comparing on MoneySuperMarket. All you need to do is tell us a little about your loan, including how much you want to borrow and over how long. Then we’ll be able to give you a list of quotes tailored to your needs.

You can browse through the list of options and sort them by the interest rate and overall cost of the loan as well as the likelihood of you being accepted if you apply. Once you’ve found the loan you want, just click through to the provider to finalise your application.

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