Rating based on 9 reviews

Tesco Bank – Loans Bad Credit

Updated

  • Low-interest starting from 2.9%
  • Loans Bad Credit up to £25,000
  • Repayment up to 3 years

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Tesco Bank homepage

Author Tesco Bank. Screenshot of Tesco Bank website. [Accessed May 17, 2020]

About Tesco Bank

Tesco Bank is a bank that is interested in the real needs of a customer.

We don’t just give clients any personal loan they qualify for. We allow you as the customer to pick a bad credit loan that you can afford because nobody else knows your budget any better than yourself.

Bad credit clients are welcome to apply

We will always be here to guide you but we prefer a system that permits the client with freedom of credit choice. Having a bad credit record doesn’t stop you from applying for credit. If anything, we believe in second chances and will be more than happy to help you get a loan. There could have been a number of reasons why you delayed on your loans in the past but you can always show us that you have learnt from your lesson by maintaining a good financial record on your current loan.

Why should customers make use of a loan calculator?

It is always a good idea to have a financial overview of the bad credit loan you are taking. When you do this, you will know the approximate amount you will be subjected to pay for once your bad credit loan has been approved.

Tesco Bank Services

If you are interested in our loan, you have to complete the online loan application available on our website.

If we are happy with all your details, we will move to the next step of processing the loan and ensuring that the money is in your bank account on the very same day or the next day at least. There may be a reason to conditionally approve your quick loan application due to further verifications that need to be done. We urge customers to be patient with us during this time as we are only following a procedure. Should your loan application be declined, we will give you the reasons as to why this had to be the case.

Why do you need my personal documents?

The reason we require your personal documents is so that we are certain that you can indeed afford the loan you are applying for. If we see that you have so much on your financial plate, it wouldn’t be practical of us to bombard you further with more credit. Instead, we will advise you to finish paying off your current payday loans before going to another set of credentials. It is important that as a customer, you are certain that you will not be late on your financial obligations. Having your credit profile ruined over a debt you could have afforded may take years to repair. It is good to seek financial advice before you make a mistake.

Tesco Bank Product Details

  • Loan Type Loans Bad Credit
  • Interest Rate from 2.9%
  • Loan Amount up to £25,000
  • Repayment 1 year to 3 years

Summary of Services

A bank that is led by you

Anybody who is interested in a bad credit loan has to be above the age of 18 years.

The customer also needs to be a permanent UK resident or must have resided in the UK for at least 3 years. Employment is also prerequisite as this is the only practical way you could afford to pay off your loan.

What are the minimum and maximum amount of the loan?

While the amount ranges between £1,000 to £35,000, this doesn’t mean you can be eligible for the entire £35,000. The amount that you may get will depend on your current credit status and how well you pay your other short-term loans. It is important that customers only apply for the exact amount of money that they need and nothing more. Regardless of qualifying for a larger amount, it is always better to only borrow the exact amount of money you need to attend to your financial emergency.

Choosing a loan repayment date for yourself

Due to the fact that the customer knows when he will have the money, it is better to choose the loan repayment date as opposed to having us choose it for you. This way, it makes things easier and convenient for both parties involved. If you are unable to your loan on the date you have specified, please inform us as soon as possible. There will be additional interest charges that will be incurred but this will only be on the basis of skipping a payment or late payment. A pattern of late payments will not be a good credit record to have. Always ensure that you can pay your payday loan on time.

Adhering to the terms and conditions

If you would like to ensure that everything goes smoothly, you have to adhere to the terms and conditions issued to you after your loan application has been approved. If you have any questions about your credit contract, you are more than welcome to give us a call. There is very little change that can be done on an online loan agreement after it has been approved. It is rather beneficial to get clarity before you get your bad credit loan approved. If you would like to book an appointment with one of our consultants, you are welcome to give us a call or drop us an email.

Customer Reviews & Testimonials

I prefer making use of Tesco Bank for all my financial needs because they let me do things on my terms. I pick the amount I want to borrow and I get to decide the loan term. Everything is how I w...

Douglas P
— Edinburgh —

The application process was fine, I would prefer if they didn't require so many personal documents but I understand why they need it.

Callan W
— Iverness —

I can make a loan for large amounts and set the terms of repayment - the interest rate may not be the best always, but Tesco is a reputable lender and I like how they do business.

Dan R
— Falkirk —

Tesco Bank Contact Details

Physical Address

Opening Hours

  • Monday Open – 24 hours
  • Tuesday Open – 24 hours
  • Wednesday Open – 24 hours
  • Thursday Open – 24 hours
  • Friday Open – 24 hours
  • Saturday Open – 24 hours
  • Sunday Open – 24 hours