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Tesco Bank: Loan reviews

Name: Loan
Rating: 3.4 (77 reviews)

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2.95

Based on 77 reviews, last reviewed 17th Feb 2025

100% increase in 5 star reviews

in the past 90 days

100% decrease in 1 star reviews

in the past 90 days

51%

10%

35%

Latest highest rating:

5

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

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.

Tesco Bank Loan reviews (77)

Review of the Tesco Bank, Loan:

Straightforward loan

Applied for a loan, got an instant decision and money in around a week. Competitive rate and excellent customer service. Thank you, Tesco! Reviewed on: 14th October 2020

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 P... 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

Perfect service , quick and easy

I called Tesco to apply for a new loan ad to consolidate an existing loan. After speaking to the customer advisor and for only 15 minutes, my loan was re negotiated, my additional funds for a vehicle was agreed and I was paying £150 less than my previous payment. Reviewed on: 10th March 2023

Very bed service!!!

you advertise yourself as a quick loan with payment within 2 hours. My loan was accepted more than 1 week ago, but it hasn't arrived since then. This country of loans would have transferred my money to any other bank. It is a mistake to choose this company because their service is zero and the call center condescendingly asks why I am calling them. amateur lazy obnoxious people work as they do in tesco. your work is not worth a single star, that's the truth!!! Reviewed on: 6th March 2023

Misleading loan adverts

Big bold letters 4.9% apr to hook you in. After completing all the relevant info suddenly jumps to 13.9% several companies doing it. Your bang out of order Reviewed on: 6th February 2023

Waste of time

Initially applied for the loan of £12,500 @4.9% on the 24th Jan 2023. Took until the 27th Jan to receive any confirmation about my application, this was the first red flag after no email or anything and left in the dark for 3 days. Basically the text just said we have received the application and will let you know the next steps… Another 2 days later I got a text saying my loan had been agreed in principle. Thinking okay we are getting somewhere but it’s been 5 days. This text s... Reviewed on: 3rd February 2023

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