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Tesco Bank: Personal loan reviews

Name: Personal loan
Rating: 3.12 (78 reviews)

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3.12

Based on 78 reviews, last reviewed 4th Dec 2025

No new 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

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

Straight forward, Painless and Fair

I searched around for a good rate and Tesco's came out top, the application process was straight forward and completed online. Once approved, which was reasonably quick, the paperwork was promptly sent through and when signed and copies of statements provided the money was in my account promptly. Overall, the experience was reasonable quick, quite painless and I believe I got a fair rate - happy customer. Reviewed on: 2nd May 2017

Quick easy

I applied for a personal loan with Tesco last year, I found the whole process quick and easy, the customer service was excellent, I was given all the information i needed to make my decision. Would definitely recommend Tesco bank Reviewed on: 2nd May 2017

Quick, efficient and fantastic interest rate.

Second time I have used Tesco for a loan and both times have been excellent in terms of speed, customer service and interest rates. They met all my expectations, the loan was in my account within 3 days of applying and the whole application process took less than 5 minutes. Reviewed on: 1st May 2017

Great!

We have had 3 loans over the years from Tesco Bank. Each time their service has been really fast and efficient, and all documentation we receive has been easy to understand. I would highly recommend them. Reviewed on: 6th April 2017

Tesco saved my life

Tesco accepted me for a loan at my lowest point, when no other company would. I needed the loan to consolidate my debt. The whole process took just a week and the money was in my account. I now have more manageable finances. Thank you Tesco Reviewed on: 5th April 2017

Great Experience

Great experience applying and always on hand to help. Reviewed on: 4th April 2017

Tesco Bank loan

I've had 2 loans from Tesco Bank and would recommend them. Good rates. Reviewed on: 3rd April 2017

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