Rating based on 54 reviews

Personal loans offered by Tesco Bank

Updated

  • Low-interest starting from 3%
  • Personal loans up to £35,000
  • Repayment up to 7 years

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Tesco Bank homepage

Author Tesco Bank. Screenshot of Tesco Bank website. [Accessed April 28, 2020]

About Tesco Bank

At Tesco, we have been helping shoppers to manage their money a little better every day since 1997.

Ever since we started operating, we have assisted more than 5 million customers with everything from ensuring their pets, to saving for that something special.

The story of Tesco bank

We work so hard to deliver a helpful service in everything we do and to make life easier for our customers. At Tesco Bank, we ensure that you enjoy the convenience of online or mobile banking to manage your accounts. We give our colleagues a place where they can be themselves, where they can develop their skills and where they can be part of a great team focused on making a real difference for our customers.

Your personal data is protected

Your safety is so important to us. We will never put you in an awkward situation or rather putting you in any risk. We have measures in place that outline how we protect you such as:

  • We have physical, electronic and procedural safeguards in connection with the collection, storage, and disclosure of personal data.
  • Your information is encrypted. No one will have access to it except us.
  • Access to your information is granted to employees and trusted partners who need it to carry out their responsibilities.
  • We monitor our systems frequently to look for vulnerabilities and attacks, and we carry out penetration testing to identify ways to further strengthen security.
  • We ask for the proof of identity before we share your personal data with you to ensure we do not send it to an incorrect address.

Tesco Bank Services

At Tesco Bank, you can apply for a variety of services easily and quickly.

Apply for all our services online or by visiting any of our branches. Do not let financial stress take control of your life. Change your life for the better by taking any of our loans.

Personal loan at Tesco bank

Apply for a loan that you can use for any personal needs such as replacing the family car or finally make a start on those home renovations.

Personal loans from £7,500 - £25,000, you will get an interest rate of 2.9%APR representatives which you can repay over 1-3 years. With our personal loan, you can expect a fixed interest rate.

Benefits of choosing Tesco loans

At Tesco Bank, we always want nothing but the best for you. We grant you a quick loan so that you can fix your problem, not to throw you in deep financial troubles. At Tesco bank you can expect:

  • You receive a decision on your loan in an instant when you apply online.
  • You can apply for a repayment holiday. Repayment holiday means that you stop paying for a loan for a certain period and start where you left off when that period is over. However, at Tesco, we have a 2 months repayment holiday.
  • You can settle your loan when you can do so. But early settlement charges apply.

Tesco Bank Product Details

  • Loan Type Personal loans
  • Interest Rate from 3%
  • Loan Amount up to £35,000
  • Repayment 1 hear to 7 years

Summary of Services

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

Tesco bank, your number one financial service provider

At Tesco, we are aware that when you apply for a loan, you need the fund in an instant and we do deliver instantly.

Apply for only the amount you need, to avoid to negatively infect your credit rating. Most importantly, when you need a loan  it is wise to apply for one loan at a time.

Ways to apply for Tesco bank loans

When you need a quick and easy application form you should consider applying for Tesco loans. follow these steps to apply:

  1. If you are already our member. You can simply visit our banking app. And start applying at any time while you are in your comfort zone.
  2. You can also visit our branches to apply for a loan. When you reach our branch, our consultants will gladly assist you.

How soon can you get your loan

When you apply for any of our products, we make sure that we deliver on time. We are fully aware that, you can only apply for an online loan when you are really in financial trouble. Hence, we do not want to keep you waiting. If you are approved, you will receive documents to sign and return to us within 5 days. But if you applied online, you’ll get an immediate decision and you can digitally sign your loan agreement with us.

Credit checks during the application

When you apply for any Tesco loans, you should allow us to perform a credit check which includes a credit reference search. A credit score will be calculated using the information you enter as well as your credit reference information. A credit check helps our decision on whether we're able to lend to you.

Ways of getting hold of Tesco bank

We are an easily accessible bank. You can get hold of any of our products by visiting any of our branches. If you are already a Tesco member, you can apply through our banking app. Visit our Facebook, Twitter, and YouTube for further discussion about our services.

Customer Reviews & Testimonials

August 2019

I am so grateful by the low-interest rate I received at Tesco bank

Natasha T
— London —

January 2020

Tesco bank doesn’t only have a low-interest rate, but they have a quick application form too

Brian O
— Scotland —

Tesco Bank Contact Details

Physical Address

Opening Hours

  • Monday Open – 24 Hours
  • Tuesday Open – 24 Hours
  • Wednesday Open – 24 Hours
  • Thursday Open – 24 Hours
  • Friday Open – 24 Hours
  • Saturday Open – 24 Hours
  • Sunday Open – 24 Hours