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TSB: Personal Loan reviews

Name: Personal Loan
Rating: 3.26 (19 reviews)

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3.10

Based on 19 reviews, last reviewed 5th Apr 2023

No new 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

37%

11%

21%

26%

Latest highest rating:

5

Hi Fast friendly and helpful and really reliable service Reviewed on: 5th April 2023

Latest lowest rating:

1

AVOID AT ALL COSTS Warning: It is a long read, but worth it for anyone considering applying for a loan with TSB. The TSB Personal Loan Department is shamefully incomp... Read more Reviewed on: 28th August 2022

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About this product

TSB 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 TSB 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 TSB personal loan, we'd love you to write a quick review too.

TSB Personal Loan reviews (19)

Review of the TSB, Personal Loan:

AVOID AT ALL COSTS

Warning: It is a long read, but worth it for anyone considering applying for a loan with TSB. The TSB Personal Loan Department is shamefully incompetent. Avoid if you do not want hours upon hours of your life wasted by people who could not care less about you. I applied for a loan which was approved and was told that I would receive an email with the next steps. This email never arrived. I called TSB and was informed that forms would be sent in the post. After 2 weeks these forms did not arrive. I then called again and was told that an email would be sent and was asked, "do you want the money today or the day after?". Again, no email arrived. I then spent 4 full days trying to get into contact with this agent only to be told repeatedly that she would ring me to address these issues. After many many hours of pleading with many different agents, I was finally informed that a manager would call me to sort it all out. The call with the manager lasted 3 minutes in-which I was informed that the previous agent is the only person who could sort it out and that she would ring me. Another 2 days passed and she had not called. I finally got in contact with another agent who informed me that the illusive agent managing my case had actually closed my application and started a new one, WITHOUT MY CONSENT. Following another week, it has been 6 at this stage, of trying to speak to someone who can sort out why I have not received the forms I need to sign to accept the loan which I have been approved for, I called to cancel the entire thing so that I could go and apply for a loan from a company that actually employed competent people. I have now found out that both loan applications are on my credit file, the one that the illusive agent closed and the second one that were both closed and opened without my consent. Therefore, I am left in the position where I can not even get a quote for a loan as both of these applications are visible on my credit file. I have registered complaints about all of the agents involved, as I have their names, with TSB and I am also going to attempt to take this further. I have been left in the position where I do not have the money even though I was approved for it 7 weeks ago, I wasted at-least 20 hours on the phone and now I can't even get a loan anywhere else. AVOID! AVOID! AVOID! Reviewed on: 28th August 2022

Advertises good rates but unlikely to receive.

Loans are showing rates as low as 2.8% but the given rates are much higher, even when applying with a good credit score. Process to apply was simple being an existing customer. Reviewed on: 31st May 2017

Simple, Expensive and declined

I needed an emergency loan to cover unexpected costs for my wedding. I applied for a TSB persona loan. rate shown to me was +29% APR. I bit my tongue and clicked submit on the application only to be told instantly that my application was declined. Considering that I have been banking with TSB for over 14 years, I thought they would have a full picture of my financial and would realise that a £2,000 pound loan over 12 month was reasonable. However, it was fortunate that I was declined as I searched Martin's Money Saving Expert website and found out about Zopa (online Peer to Peer lending). My application was accepted and I am now paying a 3.99% APR (Paying back £2078.76 over 12 months on a £2,000 loan). The wedding was a blast and I now have 8 months left to pay back my small loan! Thank you Zopa Reviewed on: 30th May 2017

Brilliant!

So fast and easy to arrange. Highly recommended. Reviewed on: 24th May 2017

Great and easy

I applied for a loan to assist with the cost of a holiday to Florida. As I have a TSB current account, I could do everything online and there was no delay in the approval. The money was transferred to my account straight away. I have given 9/10 stars for how likely I would be to recommend just because I feel that it is easier for people with current accounts to get a loan than anyone else. Also, it may be possible to get a better rate of interest elsewhere. Reviewed on: 20th April 2017

Public Complaint

I was having financial difficulties and asked for a consolidation loan I borrowed 13000 over 60 months. I paid this loan of after 28 months and got no reimbursement whatsoever and i paid over 19000 pound back is this being treated fairly or is it pathetic. The loan agreements tiny print that is barely readable states £6.54 per day interest will be charged. TSB don't answer complaints and claim to have nothing wrong in ripping me off and helping me get further money worries since no reimbursement offered and no complaint regarding this matter resolved. Reviewed on: 3rd February 2017

personal loan

Been with the bank for over 30 years and they still offer you a high interst loan Reviewed on: 14th October 2016

Mis-sold PPI

Took out a loan from and was also sold PPI. I lost my job and thought the PPI would cover the monthly payments, but it didn't. The policy was a farce and I ended up in more debt than the loan. The advice I got was to completely ignore the demands and tell them they were getting nothing and if they want to go to court, the court would tell them they would get nothing also, as I was living on benefits. They gave up on trying to recover the debt. Reviewed on: 10th May 2016

Simple and competitive

Easy to apply online, immediate response, very competitive rates, easy to set up payback Reviewed on: 17th February 2016

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