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Tesco Bank Personal Loan
Tesco Bank's personal loans are a decent option for Clubcard members, offering the chance to earn points on repayments. However, interest rates can be higher than some competitors.
Tesco Bank Personal Loan
Updated 1 minute ago| APR | Amount | Term |
|---|---|---|
| 6.6–19.9% | £1,000–£35,000 | 12–60 mo |
Requirements
UK resident
18+
Clubcard for points
Decision
Same dayOur Verdict
Tesco Bank's personal loans are a decent option for Clubcard members, offering the chance to earn points on repayments. However, interest rates can be higher than some competitors.
✅ Best For
This loan is best for Tesco shoppers who want to earn Clubcard points while borrowing, making it a unique choice for loyal customers.
⚠️ Watch Out
Potential borrowers should be aware that interest rates vary significantly based on individual circumstances and loan amounts, with higher rates for smaller loans.
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About this loan
Expert Analysis
Tesco Bank offers personal loans ranging from £1,000 to £35,000, with terms between 12 to 60 months. The lender's APRs range from 6.6% to 19.9%, which places them in the mid-tier of the market. While the opportunity to earn Clubcard points on repayments is appealing for regular Tesco shoppers, the interest rates may not be the most competitive, particularly for those borrowing smaller amounts. For instance, the most favourable rate of 6.0% APR is only available to Clubcard members borrowing between £7,500 and £25,000.
Thus, those looking for smaller loans might find better deals elsewhere. The application process is straightforward, with same-day approval for eligible applicants. However, it is crucial for potential borrowers to use the loan calculator provided by Tesco Bank to determine their repayment amounts, as rates can fluctuate based on personal credit status and loan specifics. Overall, while Tesco Bank provides a solid option for existing customers, those not tied to the supermarket may want to explore other lenders for potentially lower rates.
Similar options
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99.9–1333.0%
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7.9–45.9%
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Santander Personal Loan
personalUK resident
18+
1-2-3 account for best rate
APR
5.3–21.9%
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£1k–£25k
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5.1–29.9%
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APR
5.6–19.9%
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Term
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Rates shown are representative. Your actual rate may differ based on your circumstances. We may earn a commission for referrals.
Similar options
APR
99.9–1333.0%
Amount
£50–£1.5k
Term
3–6mo
APR
7.9–45.9%
Amount
£1k–£25k
Term
12–60mo
APR
3.9–21.9%
Amount
£1k–£25k
Term
12–60mo
Santander Personal Loan
personalUK resident
18+
1-2-3 account for best rate
APR
5.3–21.9%
Amount
£1k–£25k
Term
12–60mo
APR
5.1–29.9%
Amount
£1k–£25k
Term
12–60mo
APR
5.6–19.9%
Amount
£1k–£25k
Term
12–60mo
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