Personal loans

Looking for a loan? A personal loan from M&S Bank may help

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We may be able to offer you a better rate if you change the amount you want to borrow or the length of time you borrow for. A small change can make a big difference to how much interest you'll have to pay and the overall cost of the loan. We'll offer you a rate based on our assessment of your personal financial circumstances.

View more information on our loans rates and tiers

Benefits of an M&S Personal Loan

Borrow between £1,000 and £25,000
Repay your loan over a period of 12 to 84 months
No arrangement or set-up fees

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Credit subject to status to UK residents only. To apply you must have an annual income of at least £10,000 and be aged 18 or over. The loan amount and term you request will also impact the rate offered.

Other features of a loan

A personal loan from M&S Bank offers fixed monthly repayments, over a fixed period of time, making it easier for you to manage your money.

Before you apply you can check to see the lending terms you might receive on your unsecured loan, without affecting your credit rating, by using our personalised loan quote tool.

To apply for an M&S Loan, you must have an annual income of at least £10,000, be a UK resident and be aged 18 or over. Customers who do not meet our normal lending criteria may be offered a loan at a different APR. This will depend on your personal circumstances. The loan amount and term you request will also impact the rate offered.

A personalised loan quote is a quotation search of your credit file at a credit reference agency and this search does not affect your credit rating.

Manage your existing M&S loan

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Ready to apply for a loan?

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FAQs

Visit our ways to borrow page to understand more about the types of borrowing available at M&S Bank before deciding what is best for you.

If you call us on 0800 363 400 we'll be happy to provide you with your remaining loan balance details.

If you've already got an M&S Personal Loan and you want to increase the amount you borrow, you can apply for a second loan online. Please note, this means you'll be making two loan repayments each month. If you already have two M&S Personal Loans you'll need to call us on 0800 363 400 to discuss the possibility of increasing your borrowing further.

If you would prefer to top up an existing loan, so that you have just one monthly repayment, please call us on 0800 363 400.

At the start of the loan, we calculate the total amount of interest payable (total cost of credit) over the term of the loan. We calculate the interest due from each monthly repayment based on the number of days between repayments and the outstanding capital balance. This means we collect a higher proportion of the total interest at the start of the loan, when the capital balance is bigger, and a lower amount towards the end.

If there are delays between repayments, then more interest will accrue during that period. For example, this can happen if the payment date you choose is more than one month after the date you sign your agreement, or if you take a payment holiday that isn't shown in your credit agreement. Although we will never charge more total interest than shown on your credit agreement, this could mean that the rebate you get for settling your loan early is lower, or can go down to zero.

You can make overpayments which may reduce the amount of interest that you pay.

If you have an existing loan and wish to make additional payments you'll need to call us on 0800 363 400.

A personal loan can be a good way to pay for home improvements, buy a new car or consolidate debts.

Learn more about the different reasons to get a personal loan.

With an M&S Personal Loan you can repay your loan with fixed monthly repayments over a period of 12 to 84 months. You can learn more about how to make payments and securely manage your loan by visiting our manage your loan page.

A personal loan from M&S Bank could help you manage your debts by keeping your total outstanding balance in one manageable place. This type of loan is known as a debt consolidation loan.

Learn more about debt consolidation loans.

As a responsible lender, we take into account your personal circumstances when establishing your suitability for the loan amount you have requested and the rate we're able to offer. To help us do this, applications may be assessed using a process called credit scoring. You can learn more about credit scoring by reading our useful guide.