Securely manage your personal loan with M&S Bank

Making overpayments to your existing loan may reduce the amount of interest you pay. 

If your M&S Personal Loan account number is a 10-digit number (for most Loans opened pre-February 2024), please quote:

• The M&S Bank sort code 40-12-57 and account number 99001174.
• Use your M&S Personal Loan account number as the payment reference- this is a 10-digit number.
• You’ll need to use ‘Marks and Spencer’ in the name field and select Business Account.

Your account number can be found on the front of your agreement or annual loan statement.

Most payments reach the account immediately.

Debit card

You can make an additional payment using a debit card by contacting our Customer Services team. See our contact us page for details on how to get in touch.

Cheque

If your M&S Personal Loan account number is a 10-digit number (for most loans opened pre-February 2024), please send your cheque to: 

M&S Bank, PO Box 349, Lowton Way, Hellaby Industrial Estate, Sheffield, S98 1EQ. 

Make your cheque payable to M&S Bank and include your M&S Personal Loan account number on the reverse. Your loan account number can be found on the front of your loan statements. Please don't send post-dated cheques as we can't accept them. It will take up to 6 working days to appear on your account.

To request a settlement figure, you'll need to call us on 0800 363 400.

If your M&S Personal Loan account number is a 10-digit number (for most Loans opened pre-February 2024), please quote the M&S Bank account number 99001174 and sort code 40-12-57 and use your M&S Personal Loan account number as the payment reference- this is a 10-digit number. You’ll need to use ‘Marks and Spencer’ in the name field and select Business Account.

Your account number can be found on the front of your agreement or annual loan statement. Most payments reach the account immediately.

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 and want to discuss your borrowing further or if you’d prefer to top up an existing loan, so that you have just one monthly repayment, visit our contact us page for details on how to get in touch.

Sometimes we might not reduce the amount of interest we can charge. This could happen where your loan lasts longer than we state in your loan agreement. For example, where you have selected a repayment date that is later than one month after we give you the loan, and as a result your first repayment is delayed, or you have been late making your monthly payments.

If this happens, your monthly repayments towards the start of the loan will pay off more of the interest amount compared to if your loan lasted as long as we state in your loan agreement. But we’ll never actually charge you more interest than is included in the total amount payable. So, once you’ve paid the amount of interest included in the total amount payable, your remaining monthly repayments will just pay off the loan amount.  

This is why we might not reduce the amount of interest we can charge. Because even though you’re repaying your loan early, the full amount of interest will have already been paid or become payable.

At the start of your loan, we will work out the amount of interest we can charge. Regulations set out the formula we need to use to work this out.

The formula allows us to charge daily interest from the date we gave you the loan up until 28 days after we receive your notice that you want to repay all of the loan early. It also allows us to charge an additional month of interest if your loan agreement said that your loan was repayable over a period of more than 12 months.

Usually, the amount of interest we can charge will be reduced as a result. In these cases, we’ll refund you the difference between the interest included in the total amount payable and this reduced amount of interest.  We will refer to this refund as a ‘rebate’ in our communications with you.

To keep your account up to date you must pay at least your loan contractual monthly repayment. If you're unable to make your contractual monthly repayments, it's important you contact us as soon as you recognise you're in difficulty, so we can work with you to understand your current financial situation and find an appropriate solution.

If you've recognised you need support or are worrying about how to manage your debt visit our financial support hub to learn about the help that is available.