M&S Bank

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M&S Bank (marksandspencer.com) is one of the UK’s top financial services providers. The bank has an extensive range of financial products on offer, with savings accounts, current accounts, credit cards and insurance policies all designed to help you take control of your finances. While many people take out personal loans from M&S Bank to cover the costs of a major purchase or event, the loans can also be used to consolidate your debt, helping you to manage your money more effectively.

When you have outstanding debts that pile up over a period of time, it can start to feel overwhelming and leave you unsure of how to get back on track. While paying off the debts in full from your own savings is usually the best course of action, for many people this isn’t a viable option. Taking out a debt consolidation loan can be a sensible way to move all of your debt into one low interest loan, which you use to pay off the other debts. You then only have one repayment to focus on each month, which can help you to simplify your debt and manage it better. Consolidating debt can also save you money by eliminating higher interest repayments that cause the problem to spiral further out of control.

M&S Bank has a range of debt consolidation loans available to assist its customers, with interest rates varying depending on your personal circumstances and the amount you need to borrow. You may also be able to access special rates if you are an existing M&S Bank customer. If you have a poor credit rating as a result of outstanding debts, you may end up with a higher interest rate, as the bank will see you as a riskier customer to lend to.

Customers can borrow anywhere from £1,000 to £25,000 from M&S Bank. It’s easy to apply- simply fill out an application online or call the M&S Bank contact number. You must be over 18, a UK resident and have an annual income of at least £10,000 to be considered for a debt consolidation loan from M&S.

41 Reviews of M&S Bank have been submitted - read the latest 3 below

I have always loved Marks and Spencer and I love them even more since I got this great debt consolidation loan from them. I am not in any real trouble with debts but they were taking up a lot of my months salary and not leaving me a lot to spend on other things so it was definitely time to sort them out and get back on track with my finances.

I did some searching online to see what was available in the loan amount I wanted to get and M&S Bank were offering one of the best rates for this type of loan so I really didn't need too much persuading to apply for this loan with them. I got a really good response and the rate they eventually quoted for my loan was even better than I had hoped for so I really couldn't be happier with my decision to consolidate my debts and my choice of M&S Bank for the loan to do it with.

Review posted by Jacqui Appleby, Haywards Heath

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It didn't help that we started off married life in debt because of the big wedding we thought we wanted at the time. 3 years down the line and we have only just paid off that loan but in the meantime other bills got neglected and we have now got ourselves a mountain of debts with credit and store cards in particular.

We want to start a family in the next couple of years and we don't want all this debt hanging over us when I eventually give up work to become a stay at home mum. Thank god we got this great loan from M&S Bank. My mum works for M&S and told us how good their loans are and so as my mum always seems to know best I took her advice and went onto their website to see what they were charging for the sort of loan amount we were thinking of.

We realised if we could get this loan we would be so much better off each month just by clearing the credit card debts and if we cleared the store cards as well be would be so much better off it just made absolute sense to try and get a loan from M&S Bank to consolidate all these debts.

We were so happy when M&S approved the loan and since we got the funds into our bank account a few days ago we have been paying off each credit card bill as it arrives. I can't put into words how fantastic it feels to be able to do this. This is definitely the best decision we have made since getting married and we just want to thank M&S Bank for making it possible.

Review posted by Lorna & Kevin, Gillingham

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For a little over a hundred pounds in interest charges per year for the next 3 years I have got myself a great loan from M&S Bank which is going to be used as a debt consolidation loan. I won't be splashing the money out on a new car or a holiday, every last penny of it is going to be used to clear all my credit card debts before I get myself into serious problems with the credit card companies and my credit score suffers as a result of it. I hope I have managed to dodge that dilemma by getting this loan now instead of waiting until things got worse. I had no idea M&S Bank offered such good loans until I did an online search but once I saw what they had to offer it just spurred me on to get this loan now and sort out those credit card debts before it was too late.

Review posted by Adam K, Stamford

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