Full product details for the Tesco Bank Tesco Personal Loan, including loan details, application criteria, rates, suitability, fee & charges, example costs, facilities, restrictions and incentives.
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The representative APR is 6.1% (fixed) so if you borrow £10,000 over 4 years at a rate of 6.1% p.a. (fixed) you will repay £234.55 per month & £11,258.40 in total.
Loan Type
Unsecured
Minimum Loan
£3,000
The minimum advance is £3000.
Maximum Loan
£25,000
The maximum advance is £25000.
Minimum Loan Term
1 year
The minimum loan term is 12 months.
Maximum Loan Term
10 years
The maximum loan term is 120months.
Headline Representative APR
6.1%
6.1
Headline Representative Loan Amount
£7,500 to £14,999
Early Repayment Charge
2 months
The early redemption charge is equivalent of 2 months interest.
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.
Debt Consolidation
yes
Debt consolidation allowed.
Express Delivery
yes
Express delivery/transfer available. A 'Fast Delivery' fee of £50 will be charged for next day delivery if selected.One-off 'Fast Delivery' fee of £50 is made in addition to the first month's payment. This is not added to the loan amount and interest is not charged.
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 of applicants can be described as having a good credit rating.
Application Criteria
Permanent UK Resident
yes
This product is only available to individuals who are permanent UK residents.
Existing Customers Only
no
Loan available to all.
Minimum Age
18 years
The minimum age is 18 years.
Minimum Income
£10,000
Minimum income of £10000 pa required.
Geographical Restrictions
yes
Not in Republic of Ireland.
Guarantor Required
no
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 of applicants can be described as having a good credit rating.
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Compare Tesco Bank Tesco Personal Loan With These Loans
A maximum loan of £25,000 is offered by Bank of Ireland.
Customers get minimum arrangement fee ul.
Applicants take advantage of 0% arrangement fee from Bank of Ireland.
Get £1,000 to £1,000 headline representative loan amount.
Representative Example: The representative APR is 9% (fixed) so if you borrow £10,000 over 4 years at a rate of 9% p.a. (fixed) you will repay £245.25 per month & £11,772 in total. Arrangement fee £65,
New customers take advantage of 5 yrs max loan term.
Representative Example: The representative APR is 6.3% (fixed) so if you borrow £10,000 over 4 years at a rate of 6.3% p.a. (fixed) you will repay £235.42 per month & £11,300.16 in total.
You can have the benefit of maximum loan term of 5 yrs.
Deferred start of 1 mth.
Representative Example: The representative APR is 9.8% (fixed) so if you borrow £10,000 over 4 years at a rate of 9.8% p.a. (fixed) you will repay £250.63 per month & £12,030.24 in total.
£7,500 to £25,000 headline representative loan amount is offered to customers.
Max loan of £25,000 is offered.
Representative Example: The representative APR is 6.4% (fixed) so if you borrow £10,000 over 4 years at a rate of 6.4% p.a. (fixed) you will repay £236.08 per month & £11,331.84 in total.
Take advantage of a minimum arrangement fee of £0.
Get a minimum loan length of 1 year from the Loan.
Applicants get minimum loan of £7,000.
This loan has an arrangement fee of £0.
Representative Example: The representative APR is 8.8% (fixed) so if you borrow £10,000 over 4 years at a rate of 8.8% p.a. (fixed) you will repay £249.80 per month & £11,990.40 in total.
Bonus Loan gives a promotional representative APR of 76.9%.
Applicants get £2,501 to £3,000 promotional representative loan amount from Oakam.
Minimum loan of £200 is offered with the loan.
Get a deferred start of 1 month from the Bonus Loan.
Representative Example: The representative APR is 338.2% (fixed) so if you borrow £5,000 over 2 years at a rate of 338.2% p.a. (fixed) you will repay £691.12 per month & £16,586.88 in total. Arrangement fee £35,
New customers enjoy maximum arrangement fee of £0.
Tesco Bank gives arrangement fee of £0.
Initial representative APR of 6% is offered with this loan.
£0 minimum arrangement fee is available.
New customers get max loan of £25,000.
Representative Example: The representative APR is 6% (fixed) so if you borrow £10,000 over 4 years at a rate of 6% p.a. (fixed) you will repay £234.12 per month & £11,237.76 in total.