Tesco Bank stands out with its personal loan offer, providing rates starting at 5.8% APR, especially attractive for Clubcard members. You can borrow between £3,000 and £35,000 and pay it back over one to ten years. The application promises speedy decisions and, if approved, funds may reach your account in as little as 24 hours. Monthly payments are fixed, so budgeting stays simple throughout your loan term.

How to Apply: Step by Step

1. Use the online loan calculator to estimate your repayments and check eligibility.
2. Complete the application form with your personal and financial details. Input your Clubcard number if you have one.
3. Submit your application and wait for a quick decision. If approved, you may be asked to sign your agreement digitally.
4. Once all steps are complete, the funds could be deposited into your bank account within 24 hours.

Benefits of Tesco Bank Loan

One key advantage is the low APR for Clubcard members — just 5.8% for eligible loans. This is very competitive in the UK market and can mean big savings.

Additionally, applicants enjoy fixed monthly repayments and the flexibility of overpaying without penalties, helping you pay off your loan sooner and save on interest.

Drawbacks to Consider

The best rates are only available to Clubcard members, and the actual rate you’re offered depends on your personal circumstances. Not everyone will get the headline rate.

Borrowing more or repaying your loan early may incur a two-month interest charge, so it’s worth checking the small print carefully before deciding.

Our Verdict

Tesco Bank’s personal loan is an excellent choice for those seeking transparent terms, fast access to funds, and the potential to unlock low rates with a Clubcard. For applicants meeting the eligibility criteria, it represents a strong option, especially if you value repayment flexibility and speed.