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Tesco Bank Personal Loan
Tesco Bank offers a unique personal loan experience for Clubcard members, but its interest rates are not the most competitive in the market.
Tesco Bank Personal Loan
Updated just now| APR | Amount | Term |
|---|---|---|
| 6.6–19.9% | £1,000–£35,000 | 12–60 mo |
Requirements
UK resident
18+
Clubcard for points
Decision
Same dayOur Verdict
Tesco Bank offers a unique personal loan experience for Clubcard members, but its interest rates are not the most competitive in the market.
✅ Best For
This loan is best suited for existing Tesco shoppers who want to earn Clubcard points on their repayments.
⚠️ Watch Out
Potential borrowers should be aware that the interest rates can vary significantly based on individual circumstances and loan amounts.
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About this loan
Expert Analysis
Tesco Bank provides personal loans ranging from £1,000 to £35,000 with terms of up to 60 months. One of the standout features is the ability to earn Clubcard points on repayments, appealing to loyal Tesco customers. However, while the lowest APR of 6.0% is attractive for larger loans, the maximum APR of 19.9% can be steep for those with less favourable credit ratings.
Compared to competitors, Tesco's rates sit in the middle of the pack, meaning savvy borrowers might find better deals elsewhere, especially if they're not Clubcard members. The application process is straightforward, with same-day approval, making it a convenient option for those needing quick access to funds. However, it's essential for applicants to consider their financial situation, as the interest rates are subject to change based on credit scores and loan specifics. Overall, Tesco Bank's personal loan is a solid choice for regular Tesco shoppers, but those seeking the best interest rates may want to explore other options.
Similar options
Starling Bank Personal Loan
PersonalStarling current account
18+
UK resident
APR
8.9–24.9%
Amount
£500–£5k
Term
3–36mo
APR
6.1–21.9%
Amount
£1k–£50k
Term
12–60mo
APR
5.5–19.9%
Amount
£1k–£25k
Term
12–60mo
APR
9.9–69.9%
Amount
£1k–£8k
Term
12–60mo
APR
6.5–25.9%
Amount
£500–£25k
Term
6–60mo
APR
3.9–24.9%
Amount
£1k–£50k
Term
12–60mo
Rates shown are representative. Your actual rate may differ based on your circumstances. We may earn a commission for referrals.
Similar options
Starling Bank Personal Loan
PersonalStarling current account
18+
UK resident
APR
8.9–24.9%
Amount
£500–£5k
Term
3–36mo
APR
6.1–21.9%
Amount
£1k–£50k
Term
12–60mo
APR
5.5–19.9%
Amount
£1k–£25k
Term
12–60mo
APR
9.9–69.9%
Amount
£1k–£8k
Term
12–60mo
APR
6.5–25.9%
Amount
£500–£25k
Term
6–60mo
APR
3.9–24.9%
Amount
£1k–£50k
Term
12–60mo
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