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How long to get loan money in bank?

MrsWassire
MrsWassire Posts: 204 Forumite
Looking at taking out a loan with either M&S or Sainsburys based on the loan eligibility checker here. However, I can't find any data about how long it should take for the money to be paid into my bank account once applying. Anyone know? Hoping to car shop fairly soon.
*Insert interesting words here*

Comments

  • Sinhanada
    Sinhanada Posts: 497 Forumite
    It is usually 48 hours - or it is from my bank. I would contact Sainsbury's or M&S to find out if you want certainty
  • Tixy
    Tixy Posts: 31,455 Forumite
    If it is your own bank it can be as quick as the same day.
    Typically a couple of days or so if they give you an instant acceptance.

    If the decision has to go to the underwriters or they require further information from you then could take up to a couple of weeks.
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
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