M&S Bank personal loan in the UK 2025 from 6.2% APR, eligibility, repayments and approval times
2025 UK breakdown of M&S Bank personal loans covering the 6.2% representative APR, who qualifies, realistic repayments and typical approval times
What the M&S Bank personal loan offers
The M&S Bank personal loan in the UK provides unsecured borrowing from £1,000 up to £25,000 with terms between one and seven years. It’s a straightforward product for UK borrowers looking to consolidate debt, finance home improvements or spread the cost of larger purchases.
One standout is the option to delay your first repayment by up to three months, giving short-term breathing space. M&S Bank personal loan features also include online account management and the ability to make overpayments without heavy penalties.
Costs, APR and realistic repayments
The representative rate often advertised is 6.2% APR, though the exact rate you receive depends on your credit profile and the loan term. For example, a £10,000 loan at 6.2% APR repaid over 60 months would cost around £193.47 per month and total roughly £11,608.20.
Interest accrues if you defer payments, so factor that into your budget and compare the M&S Bank personal loan with other UK lenders. The maximum APR can reach around 22.9% for higher-risk applicants, so check personalised quotes before committing.
Eligibility, application and approval times
To qualify for an M&S Bank loan you must be over 18, a UK resident and have an annual income or pension of at least £10,000 before tax. The bank conducts standard credit checks and affordability assessments to ensure repayments are sustainable.
Applications can be completed online or by phone, and many applicants receive an instant decision, though funds are typically released within three to five working days after the signed agreement is returned. Preparing bank details, proof of address and income can speed things up.
Customer service, overpayments and final thoughts
M&S Bank’s customer support is available by phone, live chat and online banking, and they score well for user experience among UK lenders. The digital loan calculator helps estimate monthly repayments so you can plan ahead before applying.
Overpayment flexibility is a real plus: you can reduce your loan term and cut interest without facing punitive fees, making the M&S Bank personal loan attractive for those who want to repay early. Always compare representative 6.2% APR offers, total cost and approval times across lenders to pick the best fit for your circumstances.