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Tesco Bank: Personal loan reviews

Name: Personal loan
Rating: 3.42 (78 reviews)

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3.16

Based on 78 reviews, last reviewed 12th Jun 2025

No new 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

51%

10%

35%

Latest highest rating:

5

Best Loan Received a small loan for a car, very happy with interest, ease of application & of app now to monitor. Reviewed on: 12th June 2025

Latest lowest rating:

1

Waste of time / dodged a bullet Waste of time got accepted for a joint loan sent off the requested documents same day few days later been told all looks good checked with her supervi... Read more Reviewed on: 6th January 2025

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About this product

A Tesco personal loan can be used for a range of purposes.

The lowest rates for Tesco personal loans are for Clubcard members. If you’re approved, you could get the money paid into your account within 24 hours. You can pay your loan off in one lump sum but will be charged two months interest.

Tesco personal loan reviews help you find out what it’s really like to be a customer. If you’ve used Tesco Bank before, you can also leave a review and share your experience.

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Tesco Bank Personal loan reviews (78)

Best Loan

Received a small loan for a car, very happy with interest, ease of application & of app now to monitor. Reviewed on: 12th June 2025

Yes oki very good for me and my friend

Yes oki very good for me and my friend Reviewed on: 17th February 2025

Waste of time / dodged a bullet

Waste of time got accepted for a joint loan sent off the requested documents same day few days later been told all looks good checked with her supervisor with a “fine comb” been accepted and money should be there 24-48 hrs then they ask to call again to send more documents, we sent what was requested the same day we call few days later everything’s all good keep an eye out on a massage that payments processed, nothing, few days later we call and they apologise for the delay at this point they’ve taken so long my application expired and they had to start a new one at this point we have missed all of the Christmas deals for the home improvements we wanted to make, luckily my bank Barclays offered me a loan it took me 2 minutes to apply and the money went into my account instantly barclays offered me an extra £5000 to pay back the exact same amount over the loan period as tesco and better yet it’s only 7 not 10 years, dodged a bullet here got way more cash for a way better deal and it was instant, anyway 0/10 for the service and headaches caused by tesco bank will never use again and will never recommend Reviewed on: 6th January 2025

JUST GO TO TOUR OWN BANK AND APPLY FOR A LOAN!

JUST GO TO TOUR OWN BANK AND APPLY FOR A LOAN!! We were accepted by our bank in 2 minutes and the £20k loan was in the account within 5 minutes. Really bad experience with Tescos. Application took over 2 months to process and when it finally did they asked for additional information which wasn’t a problem, my wife sent over the marriage certificate electronically as we’d just got married as she had to prove the name change. Only for tescos to say we need the real copy and if we didn’t send it over they would cancel our application which they did. Our circumstances may have been different to others but it as dealt with so poorly and with barely any communication. We then went to HSBC who we bank with and got it straight away. Reviewed on: 30th December 2024

Tesco Loan

I took out a loan with Tesco bank. The interest rate was decent but it was very easy to take out the loan. Their website was very intuitive and easy to use when making payments. Reviewed on: 4th October 2024

Two good experiences

So I've had two loans with tesco, one was to consolidate some debts and the second was a top up loan on the same agreement. Perks - the first time I applied, once I completed my application online - the credit agreement was sent to me electronically and signed on the same Web page as my application was completed on - funds where in my account within 2 minutes of me pressing accept however I'm led to believe that this is subject to you credit history and credit report and also subject to if you leave an application and return. Staff where happy to answer any questions. The rates offered and flexibility for amounts and term length was also really useful. Additional borrowing is available after you make 8 payments on your existing loan. You have two options to either add a second loan alongside your current Or add additional borrowing to your existing agreement (a new hard search and application is essentially done for this) on that occasion Tesco state that a hard copy of a credit agreement is needed for this so they send out an agreement. This was at my house within a day or two. I would strongly recommend you pay additional postage to get the letter back to them rather than rely on the 1st class prepaid business envelope they provide. The letter got back and was paid in to my account once the document was scanned but again this is dependent on if it was approved or approved in principle. Positive experience, club card rates are offered and it makes sense to add your club card if you have one even if it only saves you a few quid each month on your direct debt repayments. The rates where much more favourable with tesco bank than any other provider by miles but again I assume this is credit file dependent. Friendly Scottish staff when you ring up and overall nothing bad to say. Reviewed on: 24th September 2024

Tesco bank app

Low APR rates on personal loans and variety of products to choose from also easy apply through Tesco bank app Reviewed on: 23rd August 2024

2 months for a loan.

If you want to wait 7 weeks for a loan that other providers Admiral can provide within a week, use Tesco Loans. A company stuck 10 years in the past, embarrassing that a company can operate like this in 2024. Reviewed on: 12th August 2024

Applied for a car loan at the advertised 5.

Applied for a car loan at the advertised 5.1% APR. Have Tesco Clubcard and spent £70,000 with them over the years. No issues on my credit score or anything else. Offered loan at 10.9% Went to Natwest and got 6.1%. Tesco couldn't explain the high APR. Raised a complaint but was told no grounds to complain Reviewed on: 24th July 2024

The most ridiculous bank ever.

The most ridiculous bank ever. It came to my attention that there are entries in me credit report showing two missed payments on my account. However, these entries were inaccurate. I did indeed make all required payments manually; unfortunately, they were not processed via direct debit, leading Tesco Bank to classify them incorrectly as missed payments. I contacted them but they said they cannot change it. How stupid that is? This misclassification is affecting my credit score unfairly and does not reflect my actual payment history. Reviewed on: 25th June 2024

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