Tesco Personal Loans Reviews

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2.2 stars
Average rating for this product is: 2.2 out of 5

From 0 ratings and 21 reviews

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NameCredit RatingAPRTypical APRMin Loan AmountMax Loan AmountHome Owner  
Alliance & LeicesterGood8.00%8.00%£7,500.00£14,950.00No
Sainsbury's LoansGood8.00%8.00%£7,500.00£15,000.00No
Nationwide LoansBad7.90%7.90%£7,500.00£14,999.00No

Summary

Tesco Personal Loans are part of the Tesco Finance Services product range. Combined with their full range of finance and insurance products, they are increasingly popular in this competitive market.


Average Ratings for Tesco Personal Loans

  • Speed of Application2.2 stars
  • Customer Service2.2 stars
  • Value for Money2.5 stars
  • Overall rating2.2 stars

21 Reviews For Tesco Personal Loans

  • Guest 20th Oct 2009

    Reviewer rating: 1 stars


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    12 Weeks after applying for a loan, with Tesco Iam still waiting for all my docs to come back to me. I have phoned customer care for advise on this matter and they informed me they will send out my docs in the morning post.
    8 weeks later phone call after phone call, I still have not recieve my docs
    which include my p60 I need for tax. I was advised the loan would be with me 2 weeks after the date I applyed 12 weeks later nothing I whent to Halifax Had loan with in 48 hours now canceled Tesco loan but still no docs.
    Would not recomend Tesco for a loan unless you have a few months to wait.

  • Guest 2nd Oct 2009

    Reviewer rating: 1 stars


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    Loan was easy to arrange but when I wanted to pay off loan in a lump sum cheques went missing customer service was appalling and I would never ever use Tesco Finance again. 4 months down the line and 3 missing cheques later and still not resolved. Disgusting!!

  • Guest 25th Sep 2009

    Reviewer rating: 5 stars


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    Applied for a £7500 Tesco Personal Loan on Friday lunchtime, phonecall within 3hours to say it had been approved in principle and they would send letters out that day. Recieved the next day, completed and sent back with proof of address and the money has gone into my account today. Therefore 7 day turnaround, very impressed especially in the current climate when a lot of high profile establishments just purely refused (even though my credit fil is clean and have a high score) - strongly ...

  • Guest 23rd Sep 2009

    Reviewer rating: 1 stars


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    i reviwed 3 weeks ago.since then nothing!!!! claims they havent recieved paperwork through post strike, contacted royal mail who state no strikes in their postcode disgraceful and has cost my family money!!!

    went to alliance and leiceter got the money in 5 days slightly higher rate

    tesco loans are disgraceful!!!!

  • Guest 8th Sep 2009

    Reviewer rating: 1 stars


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    Do not bother, I have now been waiting 33 days. The hold up? who knows but Tesco say they have sent out paper work, the intended recipient hasnt recived it, on 3 seperate occasions mind you!!!They have took so long the quate for an extension is no longer valid!!! THEY SUCK!!!!!!!!!!!!!!!!!!!!!!!!!!!!!11

  • Guest 26th Aug 2009

    Reviewer rating: 5 stars


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    brilliant. done on-line and paperwork and a couple of calls to the customer services department and had money in our account all within 9 days(inclusive wknd).
    dont be put off to apply. our credit rating was good but got turned down by abbey national 1st before applying to tesco. good rate,even though above advertised. no complaints,very happy customers

  • Guest 4th Aug 2009

    Reviewer rating: 2 stars


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    I applied to Tesco for a unsecured Personal Loan of £15000 over 10 years and was told I couldn't take a debt consolidation loan over more than 7 years. Fair enough. So I asked for a quote over 7 years and as you would expect, the repayments were considerably higher. However, when I checked the rate, it had leapt from 8.00% to 11.3%!
    When I told the customer assistant that I thought this was a big jump and was going to check with Sainsbury's as they were advertising a similar product, she w ...

  • Guest 31st Jul 2009

    Reviewer rating: 2 stars


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    If you fancy a rollercoaster ride type loan application then Tesco Personal Finance is the right place to go.In the first instance they agreed my loan in principle,sent me out all the documents to sign, and requested further documents.I returned all they asked for and more. Almost one week into the appliation process they turned me down purely because I could not provide tax documents for my rental income. It was quite clear to see from bank statements that this was regular money coming in and t ...

  • Guest 30th Jul 2009

    Reviewer rating: 2 stars


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    I applied for a Tesco Personal Loan 2 weeks ago.. paperwork was then received a week later "approved in principle" with an agreement and direct debit mandate to sign.. I returned all documents on the 21st July and they confirmed they received them on the 23rd July (1 week ago).. they told me last week that it would be about 3 days until my documents were looked at and "a decision made".. I phone them again on the 28th and again im told it would be about 3 days before my documents are looked at.. ...

  • Guest 20th Jul 2009

    Reviewer rating: 2 stars


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    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.

  • Guest 9th Jul 2009

    Reviewer rating: 4 stars


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    After reading so many bad reviews on Tesco Personal loans i was apprehensive about applying. I applied on Thursday night, got documents through on Saturday saying the loan had been agreed in principle (although the APR was slightly higher than advertised, but still very competitive) Signed the documents and sent a bank statement that day. Called a couple of times to find out progress and spoke to helpful, british people and on Friday was told I had been approved. Money was in my bank the next da ...

  • lisasmx5 28th Jun 2009

    Reviewer rating: 5 stars


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    i applied for this Tesco Personal Loan online to consolidated 2 loans i had and didnt think i would be accepted as i had a small bank loan only a month before. The only application was very quick and easy to fill out and i was told i would be contacted with a decision ........... i must say they didnt contact me but i rang the help line and they answered within 30 seconds and i had an "aggreed in princable"decision .... i wasnt quite sure what this meant but i got the loan paper work within 2 da ...

  • nkyher Rank: Lance Corporal 6th Jul 2008

    Reviewer rating: 0 stars


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    We complained as we feel things were not explained clearly enough. Tesco said they were covered as they say rates vary. Fair enough, but to say you are "acccepted" implies you are excepted for the loan at the rate advertised over the lengh you request when you fill in the forms. Be very careful if you apply to them you should check small print closely.

  • Guest 23rd May 2008

    Reviewer rating: 0 stars


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    I have a tesco credit card and have never missed a payment in the years I have had it. I applied for a loan and heard nothing, I rang to enquire and was told I had failed a credit check. I then paid to get my experian credit report which was fine. I think the only problem was that they didn't ask if I had had other names and most of my credit is in my maiden name. Not impressed at all.

  • Guest 25th Apr 2008

    Reviewer rating: 0 stars


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    I applied for a Tesco loan more than 3 weeks ago, they said I will have the documents in post... these arrived like after a week, which i sent off immediately. They they waited for more than week, heard nothing, then curious, i called them up and they gave a stupid excuse that they tried to ring me a couple of days ago, that my phone rang for 20 seconds and I didn't answer, NO VOICE MAIL LEFT!! So they had a small query and now they will process my application, I was soooo appalled with this dis ...

  • rtolley Rank: Lance Corporal 1st Apr 2008

    Reviewer rating: 5 stars


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    Tesco Loans offered a terrific rate when other banks were trying to charge me at double or more what Tesco offered me first time. I got the payment break I wanted and everything was so easy to complete. They buried the other banks at every level. I was with the Alliance & Leicester for 10 years for personal finance, but their rates are not competitive any more. Stay away as the customer service is not what it could be either. Tesco was wonderful from start to finish.

  • Guest 28th Feb 2008

    Reviewer rating: 4 stars


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    I am really impressed with Tesco - I applied online for a 10k personal loan at a very competitive rate. I had an agreement in principal in the next two days which i sent back signed. They called me and had to send me another agreement a few days later as I first time around I applied in my maiden name (I have only got married recently and all my documents are still in my maiden name) and they wanted me to apply in my married name. Four days later I had the money in my account!

  • suj187 28th Jan 2008

    Reviewer rating: 3.5 stars


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    Took exactly 1 week for the money to be in my account. I called them on Monday morning, I received the documents 3 days later, sent back the forms (Bank Statement etc were not required).......

  • stevecot 14th Jan 2007

    Reviewer rating: 3 stars


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    As described by previous applicants, they have to have the correct names or else it gets a bit messy (ie Stephen instead of Steve).

    A Tesco Loan is worth waiting for, as it is very competative.

  • jennyhough 17th May 2006

    Reviewer rating: 0.5 stars


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    I really do not recommend a Tesco (or Royal Bank of Scotland which is the affiliate lender) Loan. The low rate is a great attraction I know (that's why I applied), but the turnaround time is absolutely dire!! The whole process from beginning to end has been a nightmare through one thing and another.

    I first applied for the loan over the internet on 24th April. It took 3 days until I received an agreement "in principle". I then signed all the necessary documents and returned them to Tesc ...

Related categories

  1. Loans