Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.
Late repayments can cause you serious money problems. See our debt help guides.
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Read the full methodologyPlease note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.
Late repayments can cause you serious money problems. See our debt help guides.
How do John Lewis Money loans compare against the competition?
See today's rates from across the personal loan market.
The John Lewis Money Personal Loan charges 9.9% APR representative on loans between £1,000 and £35,000. John Lewis Money offers the unsecured personal loan with repayment terms between 1 year and 7 years, and applicants can apply to borrow from £1,000 to £35,000.
Loan type | Unsecured Personal Loan |
---|---|
Loan amounts | £1,000 to £35,000 |
Loan terms | 1 year to 7 years |
Loan rate type | fixed |
Fee | 0% |
Same-day funding available | |
Instant decisions in most cases | |
Soft-search facility available | |
Joint applications | |
Overpay without penalty | |
Concurrent loans allowed | |
Topping-up pays off existing loan and initiates a new loan | |
Repayment methods | Direct debit,Standing order,Electronic transfer |
John Lewis offers “unsecured” personal loans, which means that loan approval is based on individual creditworthiness rather than being secured on an asset such as a property. They have a fixed rate, which means that the amount you have to pay each month won’t change. Here’s a quick rundown:
The interest rate you’re offered will depend on factors like the amount you apply for, the term of the loan, your credit rating and your income. It may differ from the advertised “Representative APR”.
The Annual Percentage Rate (APR) is a summary of the yearly cost of a loan. It takes into account both interest and any unavoidable charges you'll need to pay (for example an arrangement/product fee) over the duration of a loan. Because John Lewis Money doesn't charge an arrangement fee, its APR comprises just the interest rate – and so they're one and the same.
However, the vast majority of lenders tailor rates (and therefore APRs) to the individual applicant. If they think you're a riskier bet, they'll offset that by offering you a higher APR. The "representative APR" (as defined by the Financial Conduct Authority) is what John Lewis Money gives to at least 51% of those who take out the loan. The other 49% could pay more. John Lewis Money must calculate APR in the same way as other lenders, and must tell you your personal APR before you sign a loan agreement.
John Lewis Money advertises a representative APR of 9.9% on loans between £1,000 and £35,000 on the John Lewis Money Personal Loan.
Well over 150 years since opening as a drapery store, John Lewis is still going strong as one of Britain’s best loved brands. John Lewis Money have released its new loan, a partnership with Zopa Bank.
Whatever it is that you could use some extra cash for, John Lewis Money offer loans from £1,000 to £35,000 at highly competitive rates.
You should only apply for a John Lewis Money personal loan if you’re certain you can meet the repayment terms, and you meet the following criteria:
Before applying for a John Lewis Money personal loan you’ll need your:
If you have an existing John Lewis Partnership Card, it’ll help speed up your application if you have your card or account number to hand.
If you’ve decided a John Lewis Money personal loan is for you, and you have to hand all the above information, you can apply online or call 0330 123 3396. Lines open:
John Lewis Money has received positive reviews from customers, according to review platform Trustpilot. It currently has a rating of 3.9 out of 5, based on more than 12,000 reviews (updated October 2024). Customers praised its helpful customer service, but others cited long applications.
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