Tesco Personal Loans Review

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2.4 stars
Average rating for this product is: 2.4 out of 5

From 0 ratings and 22 reviews

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Guest's Review of Tesco Personal Loans

20th Jul 2009

Overall Rating

2 stars
  • Value for money
    3 stars
  • Speed of Application
    1 stars
  • Loan Rate
    7.9
  • Customer Service
    3 stars

I applied for a loan a week ago with Tesco, received the paperwork 4 days later, which I instantly sent back and they received it the next morning. I rang today 3 days after sending my paperwork back and have been told they will not even be reviewing my file for another 3 days! I think this is disgraceful. I got a loan through Lloyds TSB previously and had the money in my account within 24 hours.
I will now be calling AGAIN on Thursday to find out if they have an update.

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Members' Comments onGuest's Review

  • gbobble on 22nd Jul 2009

    Did you hear anything from Tesco?

    I applied on the internet for a Tesco loan on Wednesday 15th July. I received a letter from them on the Friday (2 days later) saying we are please to offer you the loan in principle and can you please sign the enclosed credit agreement and direct debit form and send back to us by the pre-paid envelope. This I did and due to the royal mail strikes I phoned them today Wednesday 22nd and they said they received my signed agreements on Monday and for me to telephone them on Friday Evening for a decision.

    They never asked for me to send them any proof of address/wage slips ect,
    does this mean I got the loan?

NameCredit RatingAPRTypical APRMin Loan AmountMax Loan AmountHome Owner  
Alliance & LeicesterGood7.90%7.90%£7,500.00£14,950.00No
Nationwide LoansBad7.60%7.60%£7,500.00£14,999.00No
Sainsbury's LoansGood7.90%7.90%£7,500.00£15,000.00No