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Tesco Bank: Personal loan reviews

Name: Personal loan
Rating: 3.82 (81 reviews)

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3.82

Based on 81 reviews, last reviewed 20th Apr 2026

300% increase in 5 star reviews

in the past 90 days

100% decrease in 1 star reviews

in the past 90 days

54%

10%

33%

Latest highest rating:

5

Great help from Tesco Bank It was so important for me to get a loan and I was able to get a loan from Tesco Bank. It was great support which gave an amazing opportunity for my f... Read more Reviewed on: 20th April 2026

Latest lowest rating:

1

Stay away if you value your credit score. Stay away if you value your credit score. My payment was reversed as something unexpected had gone out of my account on the same day. I received a te... Read more Reviewed on: 4th December 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 (81)

good enough

was helpful to have payment holiday during the pandemic :) Reviewed on: 23rd June 2023

Good rates - excellent customer service

A very good experience with Tesco Bank. The loan rate was among the most competitive available but the real advantage has been the flexibility to make overpayments and the ease with which this can be done, either by setting up a standing instruction or by phone. Phone line staff are friendly and helpful and easy to reach without long periods spent on hold. The website from which my loan can be managed is also easy to use and extremely helpful for checking the loan balance, final payment date and for making additional payments. I would have no hesitation in recommending Tesco Bank. Reviewed on: 5th June 2023

Excellent!

I’ve had a few loans in the past from many different providers - however, the company that really stands out for me is Tesco Bank. There’s a few reasons as to why I’ve selected them. The main reason is because it’s the only loan provider I’ve had that has given me the lowest APR. There are many other providers that advertise a low APR but when it comes to the application being approved, the APR increases. It’s a waste of time going through a full blown application when you never get the lowest APR. It also adds a hard search to your credit file. The other reason is the staff and customer service - everyone I’ve spoken to on the phone at Tesco Bank have been helpful, friendly and seem willing to help. And finally, the application process was simple. It was easy to do and also gave a slightly smaller APR being a Tesco Clubcard member. All in all - excellent. I really cannot fault them. Reviewed on: 31st May 2023

Terrible system and process management and overall attitude towards service.

I applied for a Loan, which involved a Hard Credit Search. Every part of my application was handled badly. The postal service used to send me the documents was not a signed for service, this meant that there was no way to track these Highly Confidential documents (their words) after requesting the documents a second time I got them 3 weeks later! Sadly by the time I signed and sent back my application my loan request had already expired. Despite calling on several occasions no one informed me of the failed application. Theoretically if I hadn't pushed for answers in my latest phone call they would have left me waiting for the loan. The customer service was bad, the process they use to save money was bad and because of this all loans I apply for will have a higher interest rate due to my Credit score being affected. Do not use, avoid at all costs! Reviewed on: 25th May 2023

click bait

Tesco Bank appears to be luring us in. I applied for a personal loan at 5.1% APR. I used the Money saving expert eligibility calculator and this said I had a 95% chance of approval. My Experian credit rating is 999. I have zero mortgage , one credit card with a £9000 limit and zero balance. I have had no bad credit episodes and I am reasonably well paid. I got accepted but offered triple the advertised interest rate. Reviewed on: 9th May 2023

Simple and easy

Applied For a loan via the app - decision in two minutes and money in account in 30 . Wow Reviewed on: 11th April 2023

Good Rate

Good rate, easy to deal with. Sorted very quickly Reviewed on: 6th April 2023

Lons

Very good service and good Laundrette Reviewed on: 3rd April 2023

Bait and switch

Tesco Bank appears to be abusing the 51% rule on representative rates. I applied for a personal loan at 4.9% APR. I used the Money saving expert eligibility calculator and this said I had a 95% chance of approval. My Experian credit rating is 999. I have a tiny mortgage (10s of k), a single credit card with a lowish limit and zero balance, zero adverse credit events, and I earn over £100k. I got accepted but offered double the advertised interest rate. Immediately went to the Post Office and got accepted straight away at the advertised rate (5% APR) - so clearly nothing wrong with my creditworthiness. This gives the impression that Tesco are using an attractive headline rate to bait people into applying (hard credit search) only to then bump the rate up for no reason. This is sharp practice. Take your business elsewhere. Reviewed on: 28th March 2023

WASTE OF MY TIME LIES ON APR

Offered 5.4 APR pre approved sents letter and offer 10.9 APR waited two weeks for the credit agreement, waste of my time NEVER GO WITH TESCO BANK LIES I have taken if further with them. Would recommend them at all. Reviewed on: 23rd March 2023

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