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Sainsbury’s Money launches personal loans and savings
- Emma
- Finance, Shopping
- Sainsbury’s Money has launched Sainsbury’s Personal Loans, powered by NatWest Boxed, with a 6.3% APR Representative rate for Nectar members*
- An instant access savings account will follow in October
- Nectar member rates are available on Sainsbury’s Personal Loans, subject to status and lending rules*
- This is the first product from the NatWest and Sainsbury’s Money partnership
- A NatWest Nectar credit card will be released later this year
28 September 2026: Sainsbury’s Money and NatWest Boxed have launched the first products from their long-term partnership. The new offer gives Nectar members extra value.
Customers can now apply for a Sainsbury’s Personal Loan on the Sainsbury’s Money website. The loans can help with costs such as buying a car or improving a home. They offer them subject to status and lending rules. Nectar members, the UK’s largest loyalty programme with more than 24 million members, can apply for a loan with a Representative 6.3% APR by entering their Nectar card number*.
An instant access savings account will follow in October. For customers who want easy access to their cash. They can put money in or take money out at any time, with no fee for withdrawals. We will confirm the rate at launch. It is expected to be competitive, and even better for Nectar members.
Sainsbury’s Loan Launch
The launch follows Sainsbury’s Money’s debut in July 2026. It also follows the end of the Sainsbury’s Bank changeover. In 2024, Sainsbury’s set a new plan for its financial services business.
Sainsbury’s Money now works with specialist partners. This lets it bring customers simple, competitive products rather than run a bank itself. Personal loans and savings are the first products under that model.
Andrew Ellis, CEO of NatWest Boxed, said:
This partnership brings together Sainsbury’s Money’s knowledge of its customers with our banking expertise and technology. NatWest Boxed provides the platform, banking services and support, so customers can apply for a loan or open a savings account through the Sainsbury’s Money experience they already know and trust.
Patrick Short, Managing Director of Financial Services at Sainsbury’s, said:
Sainsbury’s Money is about simple products built around what customers need, with the extra value they already expect from Nectar. Collaborating with NatWest Boxed combines their banking knowledge with our customer understanding to provide competitive products. Nectar members get an even better rate.
NatWest and Sainsbury’s offer personal loans and instant access savings accounts in their partnership.
The partnership will also see NatWest Retail provide a new NatWest Nectar credit card later this year.
About Sainsbury’s Money
Sainsbury’s Money is the customer brand for Sainsbury’s financial services. It launched in July 2026 after the changeover of Sainsbury’s Bank.
Sainsbury’s Money works with specialist partners to offer simple, competitive products. These include personal loans, insurance and travel money.
About NatWest Boxed
NatWest Boxed offers a cloud-based embedded finance platform. It helps the UK’s largest brands offer financial services to their customers, safely and at scale.
It combines tech, a banking licence, compliance know-how and support.
Its goal is to power the UK’s best embedded finance experiences. Today, it employs more than 700 people across the UK and Poland.
For more information, visit nwboxed.com or Sainsbury’s
Q&A
Question: What new financial products has Sainsbury’s Money launched through its partnership with NatWest Boxed?
Sainsbury’s Money has launched Sainsbury’s Personal Loans, powered by NatWest Boxed. An instant access savings account will follow in October. These are the first products under the partnership announced in April.
Question: How do Nectar members benefit from the new Sainsbury’s Personal Loans?
Nectar members can get better Representative APRs than non-Nectar members, subject to status and lending rules. For example, they can apply for 6.3% APR on loans between £7,499 and £19,999, compared with 6.6% APR for non-Nectar members. They must enter their Nectar card number when they apply.
Question: What will the instant access savings account offer customers?
The savings account, due in October, will let customers put money in or take it out at any time without a withdrawal fee. We will confirm the rate at launch, and it should be competitive, with a better rate for Nectar members.
Question: What role does NatWest Boxed play in the partnership?
NatWest Boxed provides the platform, banking capability, compliance know-how and support. That lets customers apply for products through the Sainsbury’s Money experience while NatWest Boxed powers the tech and banking set-up.
Question: Is Sainsbury’s Money still operating as a bank?
No. After the changeover of Sainsbury’s Bank, Sainsbury’s Money now works with specialist partners to offer simple, competitive financial products rather than run a bank itself. Personal loans and savings are the first products to reach customers unde
Notes:
*Get a 6.3% APR if you’re a Nectar member or 6.6% if you’re not, for loans £7,499-£19,999. For loans £5,000-£7,499, Nectar members get 8.2% APR and non-members get 8.5%. Loans range from £1,000 to £35,000. All rates are Representative. Other loan amounts are available at other rates. Rates depend on your circumstances and loan amount, and may differ from Representative APR.
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