About Tesco Bank
Life is already filled with an unnecessary amount of complications so we aim to make loan applications one less of your concerns.
We have a range of financial products that will surely bring a smile to your face. So relax, get a cup of coffee and explore our flexible options.
Online, simple and efficient
Getting a loan is supposed to lift a burden from your shoulders which is why we choose not to over-complicate our application process. Our products can assist you to be smarter with your money and our six million happy customers are happy to agree.
Instant loan decisions
Our financial products are designed around what is important to you and allow you to access them any time of the day via online banking or our Smartphone application. Our customer support team is fully equipped and armed to resolve any problem or concern that you might have.
Tesco Bank Services
At Tesco, we offer a variety of unsecured personal loans.
Our loans are flexible allowing you to borrow as much as you need and pay it back over a period of your choice.
Let’s get personal with personal loans
The beauty of our unsecured loans is that they allow you to spend the money on anything that your heart desires. With us, you can borrow from £7,500 to £25,000 payable over a period of one to ten years. We offer fixed payments meaning that you can budget your monthly expenses with greater ease. If you have additional money lying around you can pay off your personal loan earlier at a small settlement fee.
A debt consolidation loan
A debt consolidation loan will help you to better organize your debts saving you time and money. This type of loan enables you to pay off all existing debts and pay a single loan instead. Each prior debt you had was accumulating its own set of interest – but now, with paying off a single loan, you are accumulating interest on one amount only.
Tesco Bank Product Details
- Loan Type Loans bad credit
- Interest Rate from 2.9%
- Loan Amount up to £25,000
- Repayment 1 year to 3 years
Summary of Services
- Repayment holidays
- Loan decision is instant
- Early loan settlement
Tesco Bank makes your life easier with a bad credit loan
If you still have other expenses you are paying off then it might be wise to consider applying for a payment break.
This allows you to receive your money and only start paying for it two months later. This option is only available at the start of your loan and your loan will still accumulate interest for these two months. Your loan period will also be extended by two months which will also accumulate interest.
How can I apply for a loan?
Tesco allows our customers to make bad credit loan applications online, via the cellular application or at a branch near you. Whichever platform you choose we assure you that we will process your application as fast as possible so that you do not waste time waiting for an answer. In order to apply:
- You have to be a UK citizen
- Over the age of 18
- With a fixed income
- UK banking account
What if I cannot make a payment?
Sometimes something happens that can get in the way of making a repayment which is why it is important for you to contact us should a situation like this arise. You cannot freeze your loan but we can assist you in organizing your finances for this rough patch. You will have to pay a late payment fee each time you make a late repayment. If you choose to repay your loan early you will be charged up to two months in interest as a settlement fee.
Take off some of the pressure with Tesco
Tesco has been playing the finance game since 1997 – we understand our customers: their needs and problems. This is why we have a variety of financial solutions in our arsenal. Choose between a range of personal loans, business loans, property finance and car loans.
Customer Reviews & Testimonials
I am busy person I was glad that they don’t require any paperwork
— Bristol —
I was impressed about the fast application. I completed everything in an hour. Thank you Tesco
— Cardiff —