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Tesco Loans

  • Bad credit loans up to £25,000
  • Low-interest starting from 2.9%
  • Repayment up to 3 years

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Tesco Loans homepage
Author Tesco Loans. Screenshot of Tesco Loans website.
[Accessed March 26, 2020]

About Tesco Loans

We are one of the UK's leading suppliers of short-term loans and financial products such as credit cards, home loans, and car loans.

Tesco Bank does not offer personal loans to people with bad credit however, if your credit score is below our required threshold we will not be able to help you. Apply for a Tesco Bank Loan today. It's affordable and will have your finances back on track in no time.

Tesco Bank achieves greatness:

  • sustainable business practices
  • responsible financial services
  • employing engaged and skilled people
  • community contribution and action
  • environmental awareness

Tesco Bank's vision

Our vision is to exceed expectations at securing and upgrading the financial wellbeing of people, organizations, and communities and a key prerequisite to accomplish this is that we keep up the most noteworthy professional approaches and act with respectability and awareness at all times.

Bad credit loans

Bad credit loans are usually a term used to refer to short-term loans that people with poor credit can apply for and be approved for. We do not offer bad credit loans but offer debt consolidation loans and personal loans which you may qualify for. If you've been denied credit by other lenders, we may be able to help you and give you a second opinion.

Tesco Loans Services

Bad credit loans are offered by many alternative lenders to people who have got bad credit.

These sorts of loans generally carry higher interest since the lender assumes a greater risk but are amongst the only lines of credit that you may qualify for, so if your credit rating isn't the best then you may need to consider these sorts of loans.

Higher interest rates for bad credit

When you're requesting loans from diverse lenders you'll more than likely see that the interest rates can fluctuate a great deal and, for people with bad credit, they will appear to differ much more.

As mentioned, the interest rate you will be offered will depend directly on your credit score. The worse your credit score the higher the interest and vice versa.

Get your credit back to normal

One thing that numerous people don't understand is that bad credit loans can really enhance your credit rating a ton.

Simply avoid missing any payments on your debts and bills and avoid applying for many loans, especially payday loans) which can affect your credit and you'll be on your way to better credit. This may be an opportunity for you to get your credit rating back to normal.

Need cash for an emergency

An alternate motivation behind why some people turn to these sorts of loans is on account of they need cash direly to pay for something, for example, your power bill on time or, before it gets cut off.

Tesco Loans – Bad credit loan

  • Loan Type Bad credit loans
  • Interest Rate from 2.9%
  • Loan Amount up to £25,000
  • Repayment 1 year to 3 years

Benefits of Tesco Loans

  • Receive a decision on your loan in an instant
  • You can apply for a repayment holiday
  • You can settle your loan early

Bad credit loan calculator

The interest rate of a loan will vary based on your credit score and risk profile.
This loan calculator is for illustration purposes only.
The use of this quick loans calculator is subject to our terms of use.

Tesco bank can help you get a quick and affordable bad credit loan

A bad credit loan is a loan offered to people with poor or limited credit history.

When a lender considers any loan application they will run a credit check which will reveal your past spending habits and show them how you manage your money and your debts. If you’ve missed mortgage payments or credit card payments then you're credit score is likely to have taken a fall. CCJ’s, IVA’s, and bankruptcy are factors that would cause a collapse of your credit score and thus make it nearly impossible for you to access competitive credit rates with mainstream lenders.

We offer bad credit loans

Tesco Bank does not offer bad credit loans. There are, however, many lenders who provide loans to people with limited or poor credit history. These loans can either be secured (against your home) or unsecured in which case you can usually apply for a maximum amount of £15,000. Taking out a secured loan offers the advantage of a lower APR and is usually much more affordable than an unsecured bad credit loan.

Tesco Bank’s bad credit loan alternatives

In addition to unsecured personal loans and secured or homeowner loans, people with bad or limited credit history can also apply for guarantor loans which are the same as regular loans except for the fact that someone with good credit is willing to be responsible for payment should you default on the loan. If you have a family member that is willing and able to act as a guarantor you may be offered a loan at a more affordable interest rate and you will not risk losing your home such as in the case with a homeowners loan. Debt consolidation loans are also an option that can be more helpful than regular bad credit loans.

Details on our personal loans

  • Get a loan of between £7,500 and £25,000
  • Pay fixed monthly installments over the entire term of the loan
  • Select a loan repayment term that adjusts your monthly repayments to an affordable amount
  • Get a 2-month repayment holiday if eligible
  • Pay lower interest and save money
  • Make your debt a lot easier to manage with a debt consolidation loan
  • Apply for a loan online

Customer Reviews & Testimonials

May 2019

From short-term loans to vehicle loans and personal loans – Tesco Bank has it all. For a bank that is different from all the others, I recommend none other than Tesco. Go to them in the branch, g...

Phoebe L
— Birmingham —

November 2019

If you are in need of cash in a flash then Tesco is the bank you want to go to. They understand the meaning of a financial emergency and will do all that is in their power to ensure that you get ...

Patrick R
— Liverpool —

Tesco Loans Contact

Physical Address

Postal Address

  • Tesco Bank Loan Operations, PO Box 27014, Broadway One, Glasgow, G2 9FE, United Kingdom

Opening Hours

  • not available