M&S Bank Loans


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M&S Bank is the financial arm of UK retailer, Marks & Spencer, but is mainly operated by HSBC after being bought by the bank in 2004. It’s a well-established financial service provider with a large range of branches across the country, including many inside Marks & Spencer retail stores. Amongst their services, they offer mortgages, current accounts, credit cards, insurance, and savings and investment accounts. Here, however, we are going to focus primarily on the loans they offer and what borrowers can expect from M&S Bank.

About M&S Bank Loans

Initially, M&S Bank was known as St Michael Financial Services. The brand evolved to Marks & Spencer Financial Services, then M&S Money, and finally M&S Bank when it was bought by HSBC. The bank is regulated by the Financial Conduct Authority, the Prudential Regulation Authority, and operates under the Lending Code, a voluntary subscription with the sole motivation of offering fair deals to customers. The bank offers convenient, easy-to-reach banking both through the fact that their branches are available in-store, as well as through their online banking tools.

Products & features

M&S Bank offers personal loans specialized for a variety of different purchases and purposes. Amongst these, they offer loans for cars, weddings, and home improvement. Some of the best loans available are offered with a remarkably competitive 2.9% APR with fixed rates. What’s more, there are no arrangement, set-up or hidden fees, with transparent terms across all loans making them much easier to grasp for borrowers.

Borrowers can choose loan terms between 12 and 84 months for amounts between £1,000 and £20,000. For loans between £20,000 and £25,000, the terms can be between 12 and 60 months. Repayments can be deferred for up to 3 months. This means that those 3 months’ worth of payments can be split across the rest of the loan term.

A variety of online features at M&S Bank make it easier to both apply for and manage your loan, too. The eligibility checker can be a valuable tool for helping customers find those loans only most relevant to them. Meanwhile, all loans can be managed through the online banking services once they are approved. The site also offers a virtual assistant and easy access to live support to help make the services more accessible, as well as providing expert financial advice to potential and existing customers.

Existing customers of M&S Bank can benefit from some additional value, as well. Existing cardholders, current account customers and borrowers can get preferential rates, lowering the overall amount repaid for certain loans.


M&S Bank may seem a lot like others, but its unique position under the Marks & Spencer brand offers it some distinct advantages on top of their highly competitive rates. The ability to access your finances as well as expertise in store can make it extremely convenient.