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Tesco Bank: Personal loan reviews

Name: Personal loan
Rating: 4.00 (83 reviews)

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4.00

Based on 83 reviews, last reviewed 10th Jun 2026

300% increase in 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

52%

11%

33%

Latest highest rating:

4

Made it easy to get a loan, although rates could be... Made it easy to get a loan, although rates could be better. Reviewed on: 10th June 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 (83)

Slow application process and higher than advertised rates

After waiting almost a full week, the paperwork comes through and the interest rate is about 3% points higher than what was advertised. No communication at all from approval to receiving paperwork. Wasted a lot of time and caused me a lot of stress Reviewed on: 15th November 2022

Poor rate given

l've got a prefect credit score, have been a Tesco home shopping customer for over twenty years, am employed, own my own home, have a club card and have never had a bad debt. l've previously had a Tesco loan and all was well. However this time l wanted to borrow £15,000 and despite the 5.1% advertised rate l was offered 9.1% Worse, when l called customer services they couldn't tell me the reasons for the poor rate offered and just repeated the spiel that "50% of our customers get the 5.1%" l raised a complaint and after being told it could "take up to eight weeks" l was called the next day and told that l had "no grounds for complaint" Reviewed on: 15th November 2022

FRAUDSTERS

PEOPLE PLEASE BE VERY CAREFUL!!! I have applied for the loan today and been offered 3.2% interest rate. Unfortunately they is a biggest liars and cheats!!! After application and hard credit checks completed those liars changed the interest rate to 5.5% Those liars harmed my excellent credit history rated at 974 of 1000 Please avoid those fraudsters if you want to keep your credit score high and with no harm of pointless credit checks. By the way hour later took the loan with another large bank at 2.9% within 20 minutes. SHAME ON YOU FRAUDSTERS Reviewed on: 18th September 2022

Great loan when needed

Applied for a loan for home renovations and was in my bank account within a few days. Great service from Tesco bank. Also made a lump sum payment and they immediately reduced the term. Would use them again for another loan in the future. Reviewed on: 11th August 2022

Rejected

Received a text asking me to call them, which took several attempts as kept getting cut off. When put on hold think they forgot about me and after waiting 10 mins ended the call and called back which meant I had to explain myself all over again - at the end of that conversation and despite having an Experien Credit Score of 620 (which apparently is Good) my application was rejected and the operator couldn't/wouldn't tell me why Reviewed on: 9th August 2022

Good

Fast service good comunication very help personel staff Reviewed on: 11th March 2022

Took the Mick

Interest Rate offered was nowhere near the advertised amount. requested extra information (which was fine), but he people processing the extra information were a joke. Took a minimum of a week at a time to get any sort of response. No online contracts/credit agreements signings. Went to Natwest after a month and got the money the same day - what a waste of time. Reviewed on: 10th February 2022

Tesco bank loan 2.8% offer is impossible to get.

I applied for a £10000 bank loan at 2.8% with tesco bank, after letting them have full access to my bank accounts the loan was accepted in principle, saying sign the contract they will post to you & return and money will be in your account within 2 working days. They took 3 weeks to send forms out then at the 11th hour declined the loan, saying my earnings weren't enough even though it was on application. I will never ever deal with this rip off organisation again or step foot in any of they supermarkets. Don't waste your time applying you will never get the advertised interest rate. You may get offered a loan but at a much much higher interest rate. I intend to take this further with the financial ombudsman. AVOID Reviewed on: 5th February 2022

One to avoid

Terrible service from Tesco loans and especially their customer services department. Very slow to respond by letter if they respond at all. Passed from pillar to post on the phones. Reviewed on: 16th May 2021

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

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