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M&S Bank review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

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Our verdict

M&S Bank bundles a direct lender, a savings account and travel cover under one British brand name, and the everyday savings account pays 1.05%. It suits households already shopping at M&S who want a personal loan of £1,000 to £30,000 with free early repayment, and older travellers looking for single and annual multi-trip policies.

Key facts

Best for
UK households wanting a personal loan with no arrangement fee plus an easy-access savings account.
Insurance types
Travel↗
Provider type
Broker↗
Excess from
£0↗
Cover limit
GBP 10,000,000 medical expenses per person per trip (Bronze)↗
Claims channels
Phone↗
Age range
Single trip up to 90; annual multi-trip up to 80↗
Legal entity
Rock Insurance Services Limited↗
Headquarters
United Kingdom↗
Founded
2012↗
Support channels
Phone, Help-centre↗
Audience
Seniors
Pricing model
Fixed rate
Official website
marksandspencer.com

Loans

APR
5.9% to 21.9%↗
Loan amount
£1,000 to £30,000↗
Term
12 to 84 months↗
Arrangement fee
0 (no arrangement or set-up fees)↗
Credit check
Hard↗
Funding time
3-5 working days↗
Representative example
M&S Personal Loan £7,500-£25,000 over 12-84 months: illustrative APR 5.9%, maximum APR 16.9%↗
Rate type
Fixed↗
Lender type
Direct lender↗
Free early repayment
Yes↗
Eligibility
UK resident, aged 18 or over, annual income of at least £10,000↗
Origination fee (%)
0%↗
Loan types
Personal, Car, Debt-consolidation↗
Use cases
Home-improvement↗

Savings

Headline rate
1.05%↗
Minimum deposit
£1↗
Deposit protection
FSCS up to GBP 85,000↗
Access terms
Fee-free withdrawals - up to £10,000 online or up to your balance over the phone↗
Account kind
Easy access↗

Facts checked September 26, 2026, 11 sources

Apps and profiles

Elsewhere
WikidataWikipediaX

Pros and cons

Pros

  • Personal loans of £1,000 to £30,000 over 12 to 84 with fees of 0 (no arrangement or set-up fees)
  • Free early repayment on personal loans, and funding takes 3-5 working days
  • Savings pays 1.05% on an easy-access account with a minimum deposit of £1
  • Deposits are covered by FSCS up to GBP 85,000

Cons

  • Travel excess starts at £0
  • Support runs on phone and help centre only, with claims handled by phone
  • Cover is travel only, under travel, so home and motor policies need another insurer
M&S Bank

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Scored 8.8 / 10 by SumCue.

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Who it suits

  • UK residents with a regular income who want a fixed-rate personal loan for home improvement
  • Savers who want fee-free withdrawals and a variable easy-access account
  • Older travellers buying annual multi-trip cover with medical limits of GBP 10,000,000 medical expenses per person per trip (Bronze)

Who should look elsewhere

  • Shoppers wanting home or motor cover, since M&S sells travel only
  • Borrowers who need same-day funds, as funding takes 3-5 working days
  • Anyone wanting a written-in-advance phone number outside phone and help centre

How M&S Bank compares

Where M&S Bank is available

Available
United Kingdom

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What rate do M&S Bank personal loans charge?+

Personal loans run at 5.9% to 21.9% on a fixed basis, covering personal, car and debt consolidation borrowing of personal, car and debt consolidation. Amounts run £1,000 to £30,000, repaid over 12 to 84. The rate applies to the fixed scale for home improvement use.

Is there an arrangement fee on M&S Bank loans?+

No. Personal loans carry fees of 0 (no arrangement or set-up fees) and 0% in percentage terms, so the rate is the whole cost of borrowing. Early repayment is free as well, which means you can clear a balance early without a charge.

How long does a loan application take?+

Funding takes 3-5 working days once approved, and applications use a hard credit check. Eligibility is for UK residents of a minimum age with a stated annual income requirement, so a rejected credit file is the main reason a fast payout is rare.

What does the M&S Bank savings account pay?+

The easy-access account pays 1.05% and takes a minimum deposit of £1. Withdrawals are fee-free, with limits set for online and phone access, and deposits are covered by FSCS up to GBP 85,000.

Who underwrites M&S Bank travel insurance?+

Travel policies sit with Rock Insurance Services Limited rather than the bank itself. Cover is travel only, aimed at seniors, with a medical limit of GBP 10,000,000 medical expenses per person per trip (Bronze) and an excess starting at £0.

How do I claim on an M&S Bank travel policy?+

Claims run through phone, and policy help is limited to phone and help centre. That means a call for the claim itself and a help centre for general questions, so keep your policy details handy before ringing.

Who is M&S Bank suited to?+

It fits UK residents with a regular income who want a fixed-rate personal loan for home improvement, plus savers who want an easy-access account with fee-free withdrawals. Older travellers also fit, since cover targets seniors on single and annual multi-trip policies.

Is M&S Bank regulated in the UK?+

M&S Bank is a direct lender based in the United Kingdom, and savings deposits sit under FSCS up to GBP 85,000. The bank was founded in 2012, so it is an established name rather than a new entrant to UK personal finance.

Sources

Compiled from 11 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Premium from, Monthly payments.

M&S Bank

M&S Bank

UK households wanting a personal loan with no arrangement fee plus an easy-access savings account.

8.8/10See alternatives