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TSB: Personal Loan reviews

Name: Personal Loan
Rating: 3.26 (19 reviews)

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3.40

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:

personal loan

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

High APR

I applied for a personal loan through this bank, as I am a current account holder, never been in my overdraft, never been below a certain amount in my account. I needed to build credit history so sought a loan rather than a credit card. However, I was so disappointed at the APR being as high or maybe higher than that of a credit card. I opted for a different provider with excellent rates and customer service. Clearly this bank doesn't value their long term customers. Would NOT recommend! Reviewed on: 29th June 2017

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

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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