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Tesco Bank: Loan reviews

Name: Loan
Rating: 3.45 (66 reviews)

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3.45

Based on 66 reviews, last reviewed 23rd Jan 2024

No new 5 star reviews

in the past 90 days

100% decrease in 1 star reviews

in the past 90 days

51%

11%

33%

Latest highest rating:

5

Amazing offers If you’re looking for a car, better to get loan from Tescos better rates than what is currently offered in car showrooms Reviewed on: 8th September 2023

Latest lowest rating:

1

Waste of Time. Got 95% Pre-approval for Tesco personal loan from both Money supermarket and compare the market. Applied for Tesco personal loan, got a referred appli... Read more Reviewed on: 23rd January 2024

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About the Loan

Tesco Bank personal loan reviews on Smart Money People are honest reviews. If you're trying to determine whether this is the right personal loan for you, reading our Tesco Bank personal loan reviews can help you to find out what other people have to say. Smart Money People launched in October 2014 to help people like you to find the best personal loans. If you have used a Tesco Bank personal loan, we'd love you to write a quick review too.

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Tesco Bank Loan reviews (66)

Waste of Time.

Got 95% Pre-approval for Tesco personal loan from both Money supermarket and compare the market. Applied for Tesco personal loan, got a referred application.. after 4 days I was rejected. I have a near perfect credit score, no outstanding debts a Top 1% salary. Tesco's are complete time wasters and of course vague as to the reason why my application was rejected. Went with MBNA and was approved instantly. Just avoid they waste your time and Pre-approval scores are not accurate ! Who are they approving for loans? Reviewed on: 23rd January 2024

Application declined right at the last moment

Please avoid Tesco loan, they will waste your time. People who work there have no clue what they are doing. I initially applied for loan on 13th Dec and was approved at5.9% which was cheapest at the time. After the application no sign of any email or text. Called up next day and I was told a letter has been posted. Waited for over a week and didn’t receive any letter. Called up again and I was given all sort of reasons beacuse of Christmas postal service is slow. They said they have sent 3 letter and I only receive 1.. Also they don’t have email facilities so I can’t receive or send documents electronically. Waited for 2 weeks to get the letter. Finally letter came through. Posted back with requested documents. Within few days I had a phone call saying they need to see back part of the biometric card which was never mention previously. Sent 2 letter paid £7.35 for each letter on next day delivery so I can get the money on time. On 9th Jan I had another phone call from Tesco loan money will be in my account with 2 hrs. After the previous phone call within 30mins I had another phone call from Tesco saying my application has been declined. due to affordable reason.. what a waste of time promising loan and making people wait for 3 weeks and saying it’s been declined. Why were these checks done previously? ABSOLUTELY UNPROFESSIONAL. Reviewed on: 9th January 2024

Do not apply for a Tesco loan - Do not offer rate advertised when you apply

So - Advertised a loan at 5.9%, told me I was 95% probability of being accepted, at no point said rate might be higher, then "approved" my offer at 13.5% 0 what a joke - I never would have even applied at that rate. ought to be laws about this sort of cowboy behaviour. Expected better. Reviewed on: 5th December 2023

Amazing offers

If you’re looking for a car, better to get loan from Tescos better rates than what is currently offered in car showrooms Reviewed on: 8th September 2023

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