Loans

Whether it’s time to sort out your money, replace the family car or finally make a start on those home improvements, a personal loan could help.

    Loan calculator

    Use our personal loan repayment calculator to tell us how much you want to borrow, and we'll show you an example of what you might repay.

    If you apply and we offer you a loan, your rate may be higher depending on our assessment of your circumstances. Our loans are available to UK residents aged 18 and over and are subject to status. Please find out about our loans before you apply.

      Error: Please let us know what you’ll use this loan for

      What will you use this loan for?

      I have more than one reason for this loan

      We mean a loan for home improvements like replacing permanent fixtures and fittings such as your kitchen or bathroom, adding double glazing, adding a conservatory, adding an extension or making structural changes.

      If you are decorating or replacing carpets please choose something else

        We will only lend for debt refinancing or debt consolidation if you are 22 or older

          Error: Sorry we only offer between £1,000 and £35,000

          Error: Please make sure the total amount you'd like to borrow is between £1,000 and £35,000

          How much do you want to borrow?

          £
          1000 35000
          Remove

          Error: Please let us know what you’ll use this loan for or remove this additional reason

          What else will you use this loan for?

          I have more than two reasons for this loan

          We mean a loan for home improvements like replacing permanent fixtures and fittings such as your kitchen or bathroom, adding double glazing, adding a conservatory, adding an extension or making structural changes.

          If you are decorating or replacing carpets please choose something else

            We will only lend for debt refinancing or debt consolidation if you are 22 or older

              Error: Please enter an amount or remove this reason

              Error: Please make sure the total amount you'd like to borrow is between £1,000 and £35,000

              How much more do you want to borrow?

              £
              0 35000
              Remove

              Error: Please let us know what you’ll use this loan for or remove this additional reason

              What else will you use this loan for?

              We mean a loan for home improvements like replacing permanent fixtures and fittings such as your kitchen or bathroom, adding double glazing, adding a conservatory, adding an extension or making structural changes.

              If you are decorating or replacing carpets please choose something else

                We will only lend for debt refinancing or debt consolidation if you are 22 or older

                  Error: Please enter an amount or remove this reason

                  Error: Please make sure the total amount you'd like to borrow is between £1,000 and £35,000

                  How much more do you want to borrow?

                  £
                  0 35000

                  Error: Sorry, we only offer loans between £1,000 and £35,000. Please update how much you'd like to borrow so the total is within these limits

                  Total amount you would like to borrow for this loan = £

                  Error: Sorry you can only borrow for a period of between 1 and 7 years

                  Error: The maximum length of a loan in these circumstances is 3 years

                  Error: The maximum length of a loan in these circumstances is 5 years

                  Error: The maximum length of a loan in these circumstances is 7 years

                  Over how long?

                  months (5 years)
                  12 84

                  Representative example

                  Total amount repayable
                  Monthly repayments
                  Representative APR
                  Loan amount
                  Length of loan
                  Annual rate of interest (nominal)
                  clubcard

                  Do you have a Tesco Clubcard? Enter your Tesco Clubcard number when you apply as it may positively impact your application

                    Why choose a loan with us?

                    • Loans are available from £1,000 to £35,000 with terms from 1 to 7 years depending on loan amount and purpose.
                    • Get an instant decision when you apply online
                    • Eligible customers can apply for a two month payment break – terms apply
                    • You can pay more to pay off your loan quicker – early settlement charges apply

                    Need help or looking to borrow more?

                    If you already have a loan with us and need a hand, or you're looking to borrow more - we're here to help.

                      Keep up to date with our Mobile App

                      Our Mobile Banking App lets you keep an eye on your loan balance.

                        How a personal loan can help

                        There are many reasons why you might want to take out a personal loan.

                        Buying a car with a loan

                        Found your dream car or just need to change your runaround? A Tesco Bank loan could get you going

                        Consolidate your debt with a loan

                        If it's right for you and your circumstances, a debt consolidation loan from Tesco Bank could help you manage your money better, with a simple monthly payment.

                        A loan for home improvements

                        A Tesco Bank loan could be a smart way to upgrade and add value to your home, without adding to your mortgage

                        Pay for a wedding with a loan

                        Planning a big do, a smaller wedding, or something in between? A Tesco Bank loan could help pay for the perfect day

                        Plan a holiday with a loan

                        Thinking about the trip-of-a-lifetime? You could make your travel plans happen with a Tesco Bank loan.


                        How our loans work

                        About our loans

                        A loan gives you the money you need upfront and lets you spread the cost of paying it back. So whether it's a special holiday, a car or a new kitchen, a personal loan can make it more affordable.

                        Loans are available to UK residents aged 18 and over only. Rates will vary depending on loan amount and individual circumstances. Subject to status.

                        Tesco Bank Loans: PO Box 27014, Glasgow, G2 9FE

                          We offer unsecured personal loans

                          This means that if we decide to lend you money, it won't be secured on your home, car or other assets. You can then spend this money on the things you need.

                            Available repayment periods

                            You can apply for a loan term from 12 to 84 months depending on the loan amount and purpose. Just remember that the maximum repayment period might be lower for certain loan purposes.

                              Borrow exactly what you need

                              We offer loans to cover costs big and small and you can be specific about the amount you need, down to the pound.

                                How interest is charged

                                The interest rate is fixed for the life of the loan.

                                At the beginning of the loan we work out the interest you will pay over the whole length of your loan and add this to your loan amount. We calculate your interest charge by applying interest at a monthly rate based on the APR to the balance of your loan, as reduced by your monthly repayments. We add this to the loan amount and then divide this total by the number of monthly repayments.

                                The loans calculator will give you a representative example based on the loan amount and term you want. However, the interest rate we offer may be higher depending on your individual circumstances. The maximum APR we offer is 25.5%.

                                  Getting your loan

                                  How soon can I get my loan?

                                  If you've been approved, you'll receive some important documents within five days, which you'll need to check, sign and return to us.

                                  If you apply online, you’ll get an immediate decision and, if eligible, can digitally sign your loan agreement with us. We’ll then use Faster Payments to send the money directly to your bank account.

                                  Once we're happy with the information you've sent, we'll fully approve your loan and pay the money into your bank account.

                                    Payment break

                                    Take a payment break

                                    Sometimes it can really take the pressure off if you don’t have to start repaying your loan straight away, especially if you’ve got extra expenses to cover.

                                    So when you apply for a loan, you might be eligible to apply for a payment break before starting your monthly loan repayments.

                                    • This break is only available at the start of your loan.
                                    • If your application for this option is successful, then the first payment would be taken the third month after the issue of the loan.
                                    • Interest will be charged during the payment break and your overall loan period will be extended by two months, which means that you will pay an extra two months' interest.
                                    • Your offer documentation will explain the terms of the payment break, so please read everything carefully.
                                    Making repayment

                                    Your payment is made by monthly direct debit from the account the loan is paid into. Your first payment will be made one month after issue of the loan on the date you have chosen in your application, unless you apply for an initial payment break (see under Payment break tab).

                                      You'll always know what you have to pay

                                      All Tesco Bank Personal Loans are fixed rate. This means your monthly Direct Debit payments will be the same every month until your loan is paid off. Nice and simple.

                                        What happens if a payment is late?

                                        We'll charge £12 each time a loan payment is late and £12 when a default notice is issued.

                                          Can I pay my loan back early?

                                          Yes. But you will be charged up to two months' interest if you choose to settle your loan early.

                                            Credit checks during application

                                            Credit checks during application

                                            We'll carry out a credit reference search when you apply for a loan and a credit score will be calculated based on the information you enter and your credit reference information. This will help us make a decision on whether or not we're able to lend to you. We'll then let you know the decision and what the status of your application is.

                                              Who provides these loans

                                              Our loans are provided by Tesco Bank, 2 South Gyle Crescent, Edinburgh, EH12 9FQ.

                                                APR and annual rate of interest

                                                What do we mean by Annual Percentage Rate (APR) and annual rate of interest?

                                                The APR is the total cost of borrowing, as a percentage of the amount you owe, over a year. The APR is calculated from the annual rate of interest plus any upfront fees. It gives you a way to compare the cost of different loan and credit offers.

                                                The annual rate of interest is the amount of interest that will be charged on your loan, as a percentage of the amount you owe, over a year.

                                                  Contact us - we're here to help

                                                  Need a few questions answered? Our UK-based teams are here to talk to you seven days a week. Lines are open Monday to Friday, 8am-8pm, and Saturday to Sunday, 9am to 5pm.