Rating based on 43 reviews

Tesco Bank

  • Debt consolidation up to £25,000
  • Low-interest starting from 2.9%
  • Repayment up to 3 years

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Tesco Bank homepage
Author Tesco Bank. Screenshot of Tesco Bank website.
[Accessed September 8, 2021]

About Tesco Bank

Tesco Bank is a financial institution that is committed to helping clients gain control of their finances through a wide range of products, including debt consolidation loans.

Tesco Bank is a registered credit provider who never lets their customers down especially as they are regarded as the pioneer of personal finance in the UK.

Tesco has a debt consolidation solution for all 

Tesco offers clients rock-solid debt consolidation loans at the most competitive interest rates available in the market. The credit provider is well known for its quick turnaround times when it comes to delivering services.

Sometimes clients will find that bills can pile up quickly resulting in many unpaid bills in the end because of the prevailing tough economic circumstances. Tesco understands that people have many commitments in their day-to-day lives and know it is normal sometimes to land up in a compromised debt situation.

Tesco is determined to see these types of people get back on the road to financial well-being. Therefore they have a host of approaches to consolidating debt for clients who might be over their heads in debt.

Tesco Bank Services

Tesco Bank offers debt consolidation loans in the form of a personal loan that ranges from £7,500 to £35,000.

A Tesco Bank debt consolidation loan can help clients manage debt a lot easier, lower monthly repayments, and, in some instances, even help lower the interest.

Tesco takes great care in analyzing each of its client’s credit needs and will only provide loans if they can afford it and that suits their financial circumstances.

Benefits of a Tesco debt consolidation loan

Tesco will ensure that the consolidated payment is arranged in a way that eases the financial pressure off the client.  It will also apply a competitive APR to the consolidated loan compared to interest rates applied over three accounts, which encourages saving.

  • Clients receive instant feedback on a loan application
  • The loan will be paid into the client’s account the next day, if successful
  • Clients will pay lower interest starting at 2.9% and save money
  • Makes debt much easier to manage.
  • Fixed monthly installments throughout the loan
  • Clients can apply for a Clubcard rate.

Tesco Bank – Consolidation loan

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

Benefits of Tesco Bank

  • Instant decision 
  • Pay lower interest and save money
  • Make your debt a lot easier to manage

Getting a reliable debt consolidation loan at Tesco Bank

Tesco knows that many people are falling on hard times and don’t have the required cash lying around to pay for emergencies due to bad debt. 

A debt consolidation loan from Tesco allows clients to pay off their outstanding debt at competitive rates of interest and use their spare cash to fix a car or get the plumbing job done in the kitchen. The advantage of a Tesco loan is that their loans are unsecured which means that any loan will not be leveraged against any of the client’s fixed assets.

Apply for a debt consolidation loan online and save time

Tesco Bank is all about convenience. They put emphasis on the fact that the debt consolidation application procedure must be simple and convenient. That is why they have an effective online system that does exactly that for customers who are busy with other daily commitments.

When applying for debt consolidation from Tesco Bank clients must calculate how much they need to repay for all their existing debt.  They have to take any early repayment fees and penalties into consideration.

By clicking on the website clients can use the repayment calculator to assess what their monthly repayments will be as well as the total capital outlay on the loan. Once clients have decided on a loan amount and term they can then proceed to apply for a loan online with Tesco.

Tesco helps clients put more cash in their pockets

Clients will find that they can save money, thanks to Tesco’s debt consolidation approaches.  For example, a client who has unpaid debt over three store accounts could consolidate the debt into one payment. They can then use the money they have saved due to Tesco’s market-related interest rate and cost-effective loan repayments to invest in other important day-to-day needs.

Clients can also choose what day of the month they can make their repayment to allow them the comfort of planning their finances around their convenience. Any money saved on the debt consolidation loan can be used to settle other debts.

When a client applies for a debt consolidation loan:

  • Tesco will give the client an instant decision to an online application
  • If the client is eligible and applies online, they can get the loan transferred to their account by the next day if approved
  • Clients must be over the age of 22 to apply for a debt consolidation loan
  • Clients are eligible to take a two-month payment break at the start of the loan.
  • Each client can choose which day of the month they will be making the fixed monthly payment.

So apply online now for a Tesco debt consolidation to put the finances back in the black.

Customer Reviews & Testimonials

June 2021

They have helped me in more ways than one although my loan for my debt has been paid off whenever I have a query I can always phone them and be happy with my response.

Tom H
— Surrey —

October 2021

Experience with Tesco bank cover+ was very good; very helpful staff and they have really good patience with their customers. Even when I got a complicated request they still managed to help me in...

Jackie I
— Surrey —

August 2021

Applied for a loan, got an instant decision, and received my money in around a week. Competitive rate and excellent customer service. Thank you, Tesco

Biggs L
— Surrey —

Tesco Bank Contact

Physical Address

Postal Address

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

Opening Hours

  • not available