Small loans

A small personal loan could help you raise funds for house repairs or paying for unexpected bills. If you need access to cash which you can repay in set instalments, then a small loan may be the way forward.

Clubcard Prices

Enter your Clubcard number when you apply and if you're accepted you'll get a better rate.

    Things to consider before taking out a small loan

    Taking out a personal loan is an ongoing commitment so make sure you think about how the loan repayments will work with your future plans.

    Find out more about our small loans below or by visiting our personal loans page.

        Small loan calculator

        This is an illustrative example. The rate you're offered depends on the loan term and amount chosen, as well as your individual circumstances.

        Error: Please select if you have a Clubcard to continue

        Do you have a Clubcard?

        It's easy to join Clubcard now and apply for a loan today.

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

        What will you use the loan for?

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

          Error: Sorry we only offer between £3,000 and £35,000

          Error: Please make sure the total amount you'd like to borrow is between £3,000 and £35,000

          How much do you want to borrow?

          3000 35000

          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)
          12 120

          Calculator results

          Without a clubcard

          Clubcard Price

          Monthly repayments


          Total repayable

          Clubcard Price
          Possible saving with a Clubcard £ Enter your Clubcard number when you apply

          Representative Example

          Representative APR, based on a loan amount of , over , at a Fixed Annual Interest Rate of , (nominal). This would give you a monthly repayment of and a total amount repayable of .

          A small loan could help bring your plans to life

          A Tesco Bank small loan could be the helping hand you need to bring your plans to life. If you're planning how to finance a special holiday or replace an old car, it could be worth considering a small loan. You will be in control of how much you apply to borrow, and how long you need to pay it back.

            A small loan could give you a kick start

            Whether you need equipment to begin a new personal project or money for a home repair project you’ve been putting off, a loan could help you to get your plans moving. Depending on your circumstances, you can even use a small loan to consolidate your debt. It’s just important to be aware that if you decide to use a loan this way, you could be extending the repayment term for some of your debts and it could cost you more in the long run.

            Why choose Tesco Bank for a small loan

            • Clubcard members get a better rate if they're accepted.
            • If you’re eligible and apply online, you could get the loan transferred to your account by the next day if approved, by digitally signing.
            • We’ll give you an instant decision when you apply online.
            • You may be eligible to take a two-month payment break at the start of your loan. Please note, interest will accrue during the payment break and your loan term will be extended by 2 months.
            • You can choose which day of the month you’ll make your fixed monthly payment. Before you apply for a loan think about how much you’ll borrow, how long you’ll need to repay the loan and what the interest could cost.

            How our small loans work

            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. Rates will vary depending on loan amount, term and individual circumstances. Subject to status. The maximum APR you could receive is 34.5% APR.

            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 120 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 an example of what it might cost you based on the loan amount and term you want. However, the interest rate we offer may be higher depending on your individual circumstances.

                      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.

                        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.

                        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.

                          You'll always know what you have to pay

                          All Tesco Bank 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 make additional payments to my loan?

                              Yes, you can do this at any time at no extra cost. It may help pay off your loan faster, reducing the amount of interest you pay which would save you money overall. You can learn all about what this means for your loan on our page about additional payments.

                                Can I pay off my loan early?

                                You can do this at any time which could save you money on interest charges. Remember to factor in a two-month interest fee when you settle early though. For more on early settlement figures visit our page on paying your loan off early.

                                  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, PO Box 27014, Glasgow, G2 9FE.

                                      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.

                                        Find out more about some of the loan amounts available.

                                          It's possible to get a small loan even if you have bad credit, although it may be more difficult. You can check your credit score before applying for a small loan to see if there is anything you can do to improve your rating. You can also use our simple and speedy eligibility checker to see how likely you're to be approved for a small loan with us. We'll carry out a ’soft check’ that won’t affect your credit rating but will let you know exactly how likely we are to give you a loan. Check your eligibility.

                                            The biggest thing to think about when taking out any loan is whether you’ll be able to pay it back. A small loan may help you bridge any gaps in your budget. That said, with any loan you’ll be expected to pay interest on the money you borrow, so there is a cost to consider.

                                            When you take out a loan, you’ll get a fixed interest rate for the amount of time it takes to pay it back. How much interest you’re charged will depend on things like the size of the loan and how long you expect to be paying it back for. Use our loan calculator to work out how much you could pay over the lifetime of your loan to see if it’s a smart choice for you.

                                              When you're looking for a small amount of cash to make an important purchase or to consolidate existing debts, there are a few alternatives to think about. You might be able to arrange an overdraft for your bank account, which could have lower interest rates than a loan. Be sure to double check though, not all overdrafts are cheaper than loans.

                                                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.