Tesco Personal Loan (Existing Customers) Features & Benefits
(currently displaying summary information only)| Feature / Benefit | Summary | Details | Rating out of 5 | ||
|---|---|---|---|---|---|
| Application Criteria: | |||||
| Credit Rating |  | good | Most suited to individuals who have an average income and a recent credit history free from credit defaults, arrears, CCJs or missed payments. The majority...expand | ||
| Guarantor Required | | no | No | ||
| Existing Customers Only | | yes | Loan available to existing customers only. | ||
| Minimum Age | | 18 years | The minimum age is 18 years. | ||
| Minimum Income | | £10,000 | Minimum income of £10K pa required. | ||
| Rates: | |||||
| Headline Rate APR | | 8.3% | 8.3 |  | |
| Suitability: | |||||
| Loan Type | | Unsecured | Unsecured | ||
| Minimum Loan | | £3,000 | The minimum advance is £3000 |  | |
| Maximum Loan | | £25,000 | The maximum advance is £25000. -Loans over £15,000 are available only to salaried employees, for personal purposes. -Payment Holiday is not...expand | | |
| Minimum Loan Term | | 1 year | The minimum loan term is 12 months. | ||
| Maximum Loan Term | | 10 years | The maximum loan term is 120months. | | |
| Online Decision | | no | An on-line decision is not available. | ||
| Joint Application | | yes | Joint applications are available. | ||
| Debt Consolidation | | yes | Debt consolidation is available (borrowing between £3,000 and £15,000 only). | ||
| Fee & Charges: | |||||
| Early Repayment Charge | | 2 months | The early redemption charge is equivalent of 2 months interest. | ||
| Facilities: | |||||
| Deferred Start | | 2 months | Take a 2 month Payment Holiday and you will make no repayments for up to 3 full months from the date you receive your money. | ||
| Express Delivery | | yes | A 'Fast Delivery' fee of £50 will be charged for next day delivery if selected | ||
