To make comparing even easier we came up with the Finder Score. Speed, features and flexibility across 60+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.
Read the full methodologyTo make comparing even easier we came up with the Finder Score. Speed, features and flexibility across 60+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.
Read the full methodologyPlease note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.
Late repayments can cause you serious money problems. See our debt help guides.
Our calculator lets you pick how much you want to borrow, over a timeframe that suits you, to estimate how much you would pay back each month and overall.
We base our calculations on Tesco Bank’s representative APR, but it’s important to note that Tesco only has to give 51% of customers the advertised representative APR. Other customers may be offered a higher rate – at the time of writing, Tesco Bank’s maximum APR is 34.5%. The rate you’re offered will depend on Tesco’s assesment of your individual circumstances and the loan amount and term you’ve applied for.
Our calculation also assumes that you don’t take a repayment break and you don’t repay early (both are facilities that Tesco Bank offers and both affect the overall cost of your loan).
Best for: Fast funding
Maximum loan
£25,000
Product fee
N/A
Early redemption fee
Yes
As one of the biggest supermarket chains in the world, Tesco also offers unsecured personal loans at some very competitive rates. If you’re a Tesco Clubcard member, you may be eligible for a further discounted rate.
Formerly a joint venture with RBS, Tesco Bank has been a highly competitive provider of fixed-rate loans since the 90s. You’ll usually get an instant decision when you apply online and if you need to, you can apply to take a short temporary break from repayments.
The Tesco Bank Personal Loan charges 6.4% APR representative on loans between £7,500 and £25,000. Tesco offers the loan with repayment terms between 1 and 10 years, and applicants can apply to borrow from £3,000 to £35,000.
The Tesco Bank Clubcard Personal Loan charges 6.0% APR representative on loans between £7,500 and £25,000. Tesco offers the loan with repayment terms between 1 and 10 years, and applicants can apply to borrow from £3,000 to £25,000.
| Loan amounts | From £3,000 to £35,000 |
|---|---|
| Loan terms | From 1 year to 10 years |
| Age eligibility | 18 years and over |
| Application fee | No application fee |
| Repayment holiday | Repayment holiday not permitted |
Tesco’s personal loans are unsecured, meaning they’re based on creditworthiness, rather than by the use of property, vehicles and other assets as collateral.
While Tesco rates are generally competitive, the representative APR may not be the rate you’ll receive: Tesco will offer you a rate based on an assessment of your personal financial circumstances.
| Loan type | Unsecured Personal Loan |
|---|---|
| Loan amounts | £1,000.00 to £35,000.00 |
| Loan terms | 1 year to 10 years |
| Loan rate type | Fixed |
| Product fee | 0% |
| Same-day funding available | |
| Same-day funding note | Yes, for existing loan or credit card customers who have signed through digital signatures. |
| Instant decisions in most cases | |
| Soft-search facility available | |
| Joint applications | |
| Overpay without penalty | |
| Concurrent loans allowed | |
| Topping-up pays off existing loan and initiates a new loan | |
| Repayment methods | Direct Debit |
| Loan type | Unsecured Personal Loan |
|---|---|
| Loan amounts | £3,000.00 to £25,000.00 |
| Loan terms | 1 year to 10 years |
| Loan rate type | Fixed |
| Product fee | 0% |
| Same-day funding available | |
| Same-day funding note | Yes, for existing loan or credit card customers who have signed through digital signatures. |
| Instant decisions in most cases | |
| Soft-search facility available | |
| Joint applications | |
| Overpay without penalty | |
| Concurrent loans allowed | |
| Topping-up pays off existing loan and initiates a new loan | |
| Repayment methods | Direct Debit |
All interest rates are fixed for the duration of your repayment period, however the rate you’re offered will depend on factors including the amount you apply for, the term of the loan, your credit rating and your income. It may differ from the advertised “Representative APR”.
The annual percentage rate (APR) is designed to provide an annual summary of the cost of a loan, taking into account both interest and any mandatory charges (for example an application fee, although these are thankfully now pretty rare in the world of unsecured personal loans).
All lenders must calculate the APR of their products in the same way, and must tell you the APR before you sign an agreement, so for consumers it can be a handy tool for comparison.
However, almost all lenders tailor APRs to the applicant – in other words, if your credit record isn’t as strong as other applicants’ you may be offered a higher APR. The advertised representative APR is the APR that a lender realistically expects at least 51% of successful applicants to get. Lenders like Tesco, which battle it out with other banks to advertise the very lowest representative APRs are likely to have high credit score expectations when it comes to offering that advertised representative APR.
No, Tesco Bank does not currently offer secured or homeowner loans, and instead only offers unsecured personal loans. This means that you won’t need to provide a property or asset as security against your loan, but may not benefit from the larger amounts and bad credit rates offered on secured loans.
No, you won’t earn any Clubcard points by taking out, or paying off, a Tesco personal loan. However, you can earn Tesco Clubcard points on a Tesco credit card, and your Tesco credit card will actually double as your Clubcard, so there’s no need to swipe both when you checkout.
No, Tesco Bank does not currently offer bad credit loans. If you have a poor credit rating, you’re unlikely to be approved for a Tesco personal loan. If you happen to be approved, you’ll probably be given a high-interest rate and unfavourable loan terms, and may not be able to borrow as much as you wanted. To learn how to improve your credit score, read our guide.
If you apply for a Tesco personal loan online, you’ll receive an instant decision on your loan application. If you sign your loan documents digitally, the money will then be transferred to your account in as little as 2 hours (depending on the outcome of your application).
If you need to sign your loan documents in person, they should be sent to you within five working days. Once you’ve signed and returned them, your loan funds will then be transferred.
You should only apply for a Tesco personal loan if you’re certain you can meet the repayment terms, and you meet the following criteria:
If you have decided that a Tesco personal loan is right for you, make sure you have the following information handy for your application:
Then simply fill in the application form via their website. Remember that if you apply online you’ll receive a response much quicker.
In our independent 2025 customer satisfaction survey, 90% of Tesco Bank’s users said they’d recommend the brand to a friend. Customers highlighted the bank’s easy application process and competitive rates. Here’s what some of those Tesco Bank customers had to say:
“Very happy with Tesco – very easy to navigate and use website, and very low % interest rate.”
“Fantastic interest rate. Clubcard points as a bonus. Great service.”
For queries regarding personal loans, you can call Tesco on 0345 600 6016. Or alternatively, you can use the chat-box function found on the Tesco Bank website or in the app.
All user-submitted reviews must meet our review guidelines. These set out our standards and expectations, including that the review is from by a genuine user of the relevant product or service and that it is honest, authentic and respectful. We explicitly prohibit fake or otherwise misleading reviews and we check all submissions, but we make no guarantee as to the authenticity of any published review or reviewer. Some reviews may be submitted (regardless of sentiment) in exchange for entry into any competition(s) for which we are the promoter.
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