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Tesco Bank: Personal loan reviews

Name: Personal loan
Rating: 3.45 (77 reviews)

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3.21

Based on 77 reviews, last reviewed 12th Jun 2025

100% increase in 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

52%

10%

34%

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

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. Real... Read more Reviewed on: 30th December 2024

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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 (77)

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

Excellent Product

Tesco loan is straightforward to set up and approved quickly. Excellent Customer Service received in all aspects of communication with Tesco. Reviewed on: 20th September 2020

Cheap as chips

Been able to pay for my new kitchen and bathroom with one affordable payment every month and the statements couldn't be clearer. Even 2 years later I checked to see if there was a better deal and there wasn't. Reviewed on: 9th July 2020

Great rates and amazing customer service

The rates are great and Tesco Bank customer service are brilliant. Even during the current crisis they sorted a 3 month payment break with ease and I found them SUPER organised. Reviewed on: 9th July 2020

Quick, simple, but do not give the interest rate they tease you with.

Applied for and approved for a Tesco’s loan for a car (I have an excellent credit rating). Loan process is simple and quick, however DO NOT be fooled by the interest rate they suggest you may get, they added an extra 1 percent on top. OK, its not a lot more, but its not what’s offered and there’s no explanation., even when asked. By the point of offer its then too late as I didn’t want to upset my excellent credit rating by applying for other advertised loans which now could be cheaper (if those companies adhered to the rate advertised). Reviewed on: 22nd November 2019

Loan application experience

My experience I would like to say I am so impressed with the service I have received from Tesco bank throughout the process of borrowing £16000 to purchase car. I found it very easy to apply and the speed of response has been exceptional along with the very pleasant and professional lady who texted me to call when I had spelt my address incorrectly in the application. Full process with money in the bank account in less than a week Superb! Thank you very much Gordon Reviewed on: 6th September 2019

No early repayment fees

Easy to obtain a loan only missed out on the full stars as the interest rate was slightly higher than advertised. No early repayment fees are a huge bonus. I was able to pick the payment (direct debit) date which assists with budgeting. Reviewed on: 15th April 2019

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