Tesco Personal Loans Reviews

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Latest Reviews

★☆☆☆☆

“avoid!”

Written on: 02/02/2022 by LucianoHaley286 (1 review written)

All done on line 'get back to you in 3-5 days" , 12 days pass nothing but now I have a hard search on my credit file???, no idea if it was approved or not as never heard another thing about it? Now I need to apply somewhere else making ANOTHER hard search on my credit file, joke!

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★☆☆☆☆

“Garbage Service Garbage ”

Written on: 30/11/2021 by DrewHill121 (1 review written)

Really garbage service. Agreed in principle, send back proof In post then no contact. I had to contact them to get final decision. Waste of time and not professional. Patronising staff. I would never recommend Tesco to anybody. Absolutely rubbish they should stick to their supermarkets only..

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★☆☆☆☆

“ABSOLUTE GARBAGE”

Written on: 26/08/2020 by bambo1975 (1 review written)

Accepted for a loan, 2 weeks later still waiting for funds, staff are clueless and patronising Sent forms in the post, no supporting information needed. Sent back promptly no communication whatsoever. Why in 2020 are they needing papers signed with the amount of technology and companies asking you to e sign online. Avoid like the plague!

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★★★★★

“Fast & Great loan rates”

Written on: 03/04/2017

Applied for a tesco loan and got accepted in principle but had to sign and send one months bank statement. Sent the documents off on Friday and got a text Monday afternoon to let me know the loan had been approved and was transferred into my account. Couldn't rate tesco bank enough, so quick and the process was very smooth! The interest rates are great too. The customer service was great and was always friendly when I called to check on the progress. Would definitely recommend to anyone needing a loan quickly. I took out the loan to buy a new car my family needed.

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★★★★★

“VERY QUICK SERVICE”

Written on: 25/03/2017 by Kameronq192 (1 review written)

Applied Friday evening got to the end and loan approved signed loan doc on line informed me they will carry out some more checks and money should be in account with in 24hrs by 1pm sat cash was funded to my account.. I couldn't fault tescos loans from start to finish I was also accepted on the headline rate...... that's after getting the run around from sainsburys for 4 days to be declined (duh)

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★★★★★

“First class service!”

Written on: 15/03/2017 by lalaland (2 reviews written)

Applied for a loan on a Friday afternoon, after completing it they said they needed to check some details and I would hear in 48 hours. At this point I wasn't hopeful but I recieved text Saturday stating loan approved! Agreement arrived on Tuesday, signed and sent back same day, no other documents needed. Boom - money in account by Wednesday lunchtime. I didn't get the advertised rate, though I wasn't expecting to due to a very small (<100) 3 year old default on my credit file. The rate I did get was by far the best compared to other lenders I had looked at, and many would'nt even entertain me due to the default. So thanks Tesco - I can now get my roof repaired which is a HUGE relief!

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★★★★★

“No Complaints Whatsoever”

Written on: 24/01/2017 by thinkitthrough1984 (1 review written)

So I applied for the loan of £12500 with Tesco Bank expecting to get something close to/slightly higher than the advertised rate. However I was pleasantly surprised to get the advertised rate (3.3%). I made the application online and my loan was approved in principle. They sent the paperwork the very next day of the application. I was to return the signed documents back along with additional proof of my residence permit (which I provided. They need certified copy which is a bit tedious I must admit). So I sent it all with the prepaid envelope that they had included. I didn't add any additional royal mail tracking. The documents were received by Tesco the next day. And then the waiting game of approximately 5 days. Today morning I received the required amount in my bank account. I am happy with the overall service and experience. Here is the timeline 13th January - Online application 14th January - Received the paperwork 17th January - Sent back the paperwork 24th January - Money in the bank account!

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★★★★★

“Tesco personal loan”

Written on: 16/01/2017 by Northei52 (1 review written)

Applied for £7500 on Sunday afternoon. Accepted straight away, signed agreement online and money was in my account at 2pm Monday. Great fast service. Only down side poor communication no email confirmation just a txt when money was transferred to my account and got a good rate of 7.3%. Should add I am not an existing customer but have had 2 Tesco credit cards which were paid off and closed prior to my loan application.

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★☆☆☆☆

“Avoid Tesco loan if you are in a hurry!”

Written on: 15/11/2016 by Georgia146 (1 review written)

Customer service is ok - sometimes long waiting! People are ok/friendly. Tesco bank simply doesn't have enough employees to deal with the amount of customers! The process is too slow - take too long for credit check and need to send the documents back by post! Oh my god. I just found out that the process was so slow. If I knew it earlier, I would definitely avoid it. It only took me one day to take out £10000 with HSBC, but with Tesco, you are talking about one month. Avoid at all cost in the future. Definitely doesn't recommend it. I regret that I didn't read the reviews before I went to Tesco.

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★☆☆☆☆

“Avoid Tesco loan if you are in a hurry!”

Written on: 15/11/2016 by Georgia146 (1 review written)

Customer service is ok - sometimes long waiting! People are ok/friendly. Tesco bank simply doesn't have enough employees to deal with the amount of customers! The process is too slow - take too long for credit check and need to send the documents back by post! Oh my god. I just found out that the process was so slow. If I knew it earlier, I would definitely avoid it. It only took me one day to take out £10000 with HSBC, but with Tesco, you are talking about one month. Avoid at all cost in the future. Definitely doesn't recommend it. I regret that I didn't read the reviews before I went to Tesco.

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★★★★★

“Im so happy with Tesco Loan,brilian service.”

Written on: 09/10/2016 by nkNorris264 (1 review written)

Apply for loan on friday,recived goods on friday.Well done Tesco loan.

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Marcus811's Comment

Written on: 15/11/2016

Customer service is ok - sometimes long waiting! People are ok/friendly. Tesco bank simply doesn't have enough employees to deal with the amount of customers!

The process is too slow - take too long for credit check and need to send the documents back by post! Oh my god.

I just found out that the process was so slow. If I knew it earlier, I would definitely avoid it. It only took me one day to take out £10000 with HSBC, but with Tesco, you are talking about one month.

Avoid at all cost in the future.

Definitely doesn't recommend it. I regret that I didn't read the reviews before I went to Tesco.

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★★★★★

“Great service and amazingly quick”

Written on: 24/09/2016 by Salvatore341 (1 review written)

I applied for a top up to my existing loan on Thursday pm and after courier delivered and collected signed documents Friday (timed to suit my work commitments) the money is in my account today Saturday am!! Very helpful staff and a very low 3.5% int rate so very happy all round - well done Tesco!!

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★☆☆☆☆

“Very unhelpful ”

Written on: 23/03/2016 by Leidjames (1 review written)

I've has a load with Tesco for a few years now always paid on time never had a problem until I had an accident at work and was of for a few months, Tesco agreed to help me for a while by lowering the payments, but then as soon as I went back to work they would not allow me to pay pack what I owed over a payment plan but insisted that I paid the £2000 back immediately or they were going to blacklist me even though I hadn't even had a pay check yet and was struggling because I've been out of work. Thanks for your support Tesco I will never use you again.

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★★★★★

“Tesco Personal Loan - Excellent Service”

Written on: 24/02/2016 by Morse1970 (1 review written)

I do not normally write reviews but I am so impressed by my experience with Tesco I thought I needed to. I wanted to consolidate some existing borrowing as I have 2 current loans with other providers, I also wanted to have something left over as I am going to Florida in the summer, as Tesco would say, every little helps! So I looked around for a loan of £20,000 and with Tesco I was able to get this over a 10 year period, which works for me. I also wanted to be able to make additional payments when I can and again Tesco fitted the bill. Extra payments can be used to either reduce the overall monthly payment or shorten the term of the loan, which will reduce the amount of interest paid as well, so that really works for me. I applied online on Wednesday afternoon and was accepted straight away, the APR was 8.6% which was a bit more than I hoped for but not too bad. The big plus for me is my repayments leave me £140 a month better off. None of the other mainstream lenders were offering anywhere near as good a deal or a term of over 7 years on a £20k loan! The next best was 7 years at 12.6%. The paperwork for my signature arrived on Saturday, no other documents were requested. I should say that I have 2 current accounts with them that have my rainy day funds in for the 3% interest and 2 credit cards that are paid in full every month, so they do know me well as a customer. I posted the signed agreement on Monday and by Tuesday afternoon the money was lodged in my current account. I can't complain about any aspect of the application process or the service that Tesco have provided and I certainly recommend them. It might take a bit longer because of the agreement being sent out to you but that I think makes the experience seem a bit less automated and more personal.

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★★★★★

“Tesco Personal Loan”

Written on: 16/01/2016 by Dougherty130 (1 review written)

I don't usually write reviews but we applied for £8500 online. We were approved and received a rate of 3.6% the next day. Signed the agreement and sent it back on a Friday morning. The money was in my account by midday the next day. First class service by tesco. We know have our mortgage and car insurance with them too!

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★★★★★

“first class service at 3.6%. money in account in 6 days!”

Written on: 24/12/2015

I applied for £9000 over 4 yrs on 19th Dec. I was accepted straight away at a rate of 3.6%. Total interest is £665. Paperwork received on 23rd Dec, I signed it and sent it back by special delivery. The money was lodged into my account on Christmas Eve. Brilliant service. I'm a Tesco Credit Card holder with excellent credit rating. Didn't need any more info or bank statements etc. Would highly recommend

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★★★★★

“Best service ever ”

Written on: 04/11/2015 by KeiraBishop377 (1 review written)

I can't understand why tesco receive such negative comments and wonder if most is a case of you get treated how you treat others, any way moving it along I'm a clubcard holder since tesco began, I then took out car insurance , followed by current account and credit card, now I won't say it went without hitches because it did not on each one I encountered 1 problem each, however there fb and twitter pages are fab and staff sorted it for me, even there customer service phone line is helpful and quickly sort issues, now I did go elsewhere for a loan at first and that was my mistake I'll name and shame them hitchia loans is a waste of space stamp all over your credit score and no intentions of accepting you unless you have super bad history, so I turned to tesco since I have everything else, was reffered online needed some info so they rang the next day and asked what I intended the loan for , knowing this was make or break I was upfront and honest and told them and told them how another company turned me away , only defaulted a few payments in my time yrs ago, straight away the confirmed they had approved my loan paperwork turned up 3 days later ,sent back nxt day 1st class and on day 2 I logged onto my banking and the loan was sat in my account waiting, overall best experience ever they tell you everything, they make sure you understand terms and if u can afford it etc they do not push you to accept ,overall I would apply again if needed

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★★★☆☆

“Stuck in the dark ages”

Written on: 15/08/2015 by djpreston (2 reviews written)

The rates may be attractive but their processes and procedures are out of the dark ages. Applied for a loan. Approved: "Documents will be sent out from our printers, please sign and return" Why not email populated documents to the email address on the application that you have just checked? "We can't do that." Why not use electronic signatures? "We can't do that" Sigh.... Why not send royal mail guaranteed overnight rather than charge £50 for a courier? "We can't do that". Wait. Wait wait for documents. Chase them up. "Oh, I'm afraid they haven't been produced. We will resubmit your application again". Scream. Obviously no quality case management systems in place. And obviously no concept of banking/finance in the modern era.

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★★★★★

“FANTASTIC AND SUPER QUICK 10/10”

Written on: 13/08/2015

WELL WHAT CAN I SAY applied on Monday and received the application on Wednesday and sent it back the same day and Tesco bank received it Thursday morning and money in my bank by 2pm the same day. That's what you call a top service and interest A.p.r over 10 years is by far the best. Thank you Tesco bank for such a fantastic service . Please ignore the bad reviews as it a load of nonsense.

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Amjems's Comment

Written on: 08/04/2016

Which bank you have account with and what is your credit score ?

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★★☆☆☆

“slow service”

Written on: 30/07/2015 by Corcoran416 (1 review written)

We applied for a loan on 16th July via internet and were accepted, then received a text on 23rd July to say good news, your loan has been approved subject to some final checks, please sign and return the paperwork. The same text came through again on the 30th July. But with no sign of any paperwork. In the end I cancelled the application as I really could not wait much longer. Also beware they charge 28 days interest before you even start to repay the loan. It would have helped to know how long it was going to take to actually get the loan. Also as it was only accepted in principle, we could have been in a very unfortunate position if in the end it was rejected.

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Asked by StaceyRox on 14th June 2016 Report this content
I am looking to get a loan with Tesco to get all fiance into one monthly payment. I don't have very good credit as I lost my job a few years back and got into abit of a mess! I have been back working for the same company for 3 years now and paying everything I owe off but still effects my credit. Has anybody else been accepted with bad credit for a Tesco loan? As I am worried. Don't want to apply and be rejected as will obviously have another bad mark against my name. Thanks in advance

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Asked by KK10 on 26th March 2016 Report this content
Is it normal to receive a text to confirm my loan has been accepted following referral to the underwriters?

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Asked by raych290779 on 12th January 2016 Report this content
I applied for a loan and it said approved and money would be with me in 24 hours. I have received no emai,l phone call or anything. What should I do? Please help.

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Asked by Riets on 18th November 2014 Report this content
Do Tesco Loans ask for an upfront initiation/administration fee before the loan are paid out?

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Asked by RB14 on 28th September 2014 Report this content
I applied for a loan five days ago and still have not heard anything. Please can you tell me how long it takes? Do they call or send a letter? Thanks

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Asked by becky.evans.90663 on 15th July 2014 Report this content
Six months ago we applied for a loan with Tesco. We were eventually turned down due to a bank charge on a bank statement. That's what they said they turned us down for anyway. Me and my husband have waited the appropriate amount of time and made sure our finances are in better shape. I did a credit check on us and came up with a 'fair' score. Do you think we stand a chance of getting accepted this time? Thanks in advance

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Asked by shaunpowis on 11th July 2014 Report this content
I was thinking of applying for a £15k loan over 10 years, but before I do I just wanted to know if it was worth trying? I have a excellent credit score on Equifax of 476 but I have two credit cards and a bank loan but I just want to pay them all of so I have just one monthly payment, plus have a little cash left to pay back a family loan. I would really appreciate it if you could let me know what the chance would be? I'm in full time work and earn £16k a year. Thanks for any feedback 

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Asked by vahri on 19th January 2014 Report this content
I apllied for a tesco loan last wednesday night and they said we have to carry out some more checks and will be in contact within the next few days does anyone know how long it takes for them to make a decision and how they contact you?

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