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Tesco Bank: Personal loan reviews

Name: Personal loan
Rating: 3.42 (78 reviews)

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3.11

Based on 78 reviews, last reviewed 4th Dec 2025

No new 5 star reviews

in the past 90 days

100% increase in 1 star reviews

in the past 90 days

51%

10%

35%

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

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.

Tesco Bank Personal loan reviews (78)

Review of the Tesco Bank, Personal loan:

Two good experiences

So I've had two loans with tesco, one was to consolidate some debts and the second was a top up loan on the same agreement. Perks - the first time I applied, once I completed my application online - the credit agreement was sent to me electronically and signed on the same Web page as my application was completed on - funds where in my account within 2 minutes of me pressing accept however I'm led to believe that this is subject to you credit history and credit report and also subject to if you leave an application and return. Staff where happy to answer any questions. The rates offered and flexibility for amounts and term length was also really useful. Additional borrowing is available after you make 8 payments on your existing loan. You have two options to either add a second loan alongside your current Or add additional borrowing to your existing agreement (a new hard search and application is essentially done for this) on that occasion Tesco state that a hard copy of a credit agreement is needed for this so they send out an agreement. This was at my house within a day or two. I would strongly recommend you pay additional postage to get the letter back to them rather than rely on the 1st class prepaid business envelope they provide. The letter got back and was paid in to my account once the document was scanned but again this is dependent on if it was approved or approved in principle. Positive experience, club card rates are offered and it makes sense to add your club card if you have one even if it only saves you a few quid each month on your direct debt repayments. The rates where much more favourable with tesco bank than any other provider by miles but again I assume this is credit file dependent. Friendly Scottish staff when you ring up and overall nothing bad to say. Reviewed on: 24th September 2024

Credit

Friendly and helpful team who are willing to help you through all staged Reviewed on: 8th June 2017

Good bank with good customer service

Got a Loan through Tesco Bank. Did it all online and it was really easy. Had to speak with them a couple of times on the phone and both times the advisor was friendly and got the issue resolved on my first call. Reviewed on: 31st May 2017

Loan

quick and friendly service . low interest rate. the credit search will affect your credit score though. Otherwise, the great experience Reviewed on: 30th May 2017

Loan

Quick and friendly service. Low % of interest . The credit search will affect your credit score though. Rest of my experience with Tesco bank was great. Reviewed on: 30th May 2017

Great

Great experience, really helpful good customer service. Quick decision so fast payout Reviewed on: 24th May 2017

Rip-off Pet Insurance Renewals

Paid into my insurance policy for a long time - wasn't a great one as it only covered conditions up to £4k and it cost quite a bit to do that. Claimed about £4k last year for my dog's lymphoma. Just had the renewal through - gone up from £160 (which was too much) to a whacking rip off amount of £287.00. Absolute con for a low quality policy. My dog is now uninsured and as he's 10 no-one will cover him. Avoid - might look good at the start but once you've claimed, you're trapped as the price is hiked but you can't leave or the condition isn't covered... Will never, ever use Tesco again. Reviewed on: 23rd May 2017

Easy process

I took out a loan with Tesco Bank last year and was surprised at how easy the process was. I completed an application on line and had confirmation email that it had been received. I was kept up to date with the process and received the payment into my chosen bank account in a very quick turnaround time. Would definately recommend if anyone is looking for a short term loan. Reviewed on: 21st May 2017

Best personal loan provider

I was looking for a personal loan to cover for some additional house extension work.I didn't go for a home improvement loan as the personal loan appeared cheaper and dearer. I used Money supermarket website to shop for a lender. And Tesco was then offering the best rate . I rang them up and from there I got the credit in couple of days' time. There were no hassles of any additional processes or documents and they asked only the bare minimum identity documents like passport etc. The customer support was amazing too. Reviewed on: 20th May 2017

Requesting feedback despite declining loan

I applied for a loan which was declined. I don't have an issue with the decision, but I do object to receiving repeated email requests to leave feedback........ Reviewed on: 19th May 2017

Best APR

At the time when we were looking for a loan we found that Tesco Bank offered the lowest APR for a £15k loan over 7 years. The repayment provisions were the most favourable and Tesco got back to us extremely quickly with a positive answer. Would recommend. Reviewed on: 5th May 2017

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Tesco Bank: Personal loan reviews

No new 5 star reviews

100% increase in 1 star reviews

Latest highest rating:

5

Latest lowest rating:

1

About this product

Tesco Bank Personal loan reviews (78)

Two good experiences

Credit

Good bank with good customer service

Loan

Loan

Great

Rip-off Pet Insurance Renewals

Easy process

Best personal loan provider

Requesting feedback despite declining loan

Best APR

Do you have a different Tesco Bank product?

Want to see more from Tesco Bank?

Life Insurance

Current Account

Clubcard credit cards

Join Smart Money People

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