A 6.0% APR loan to savour from Tesco Bank - Loans - News - Moneyfacts


A 6.0% APR loan to savour from Tesco Bank

A 6.0% APR loan to savour from Tesco Bank

Category: Loans

Updated: 07/08/2012
First Published: 02/09/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Tesco Bank has improved its already stand out bank loan offering by reducing selected loan rates for new customers as well as existing customers.

Tesco Bank Personal Loan

  • Tesco Bank is offering unsecured loans to customers looking to borrow between £3,000 and £25,000.
  • Personal loan rates vary between 6.00% and 15.9% typical APR, depending on how much is borrowed.
  • A great low rate of 6.0%APR representative on loans from £7,500 to £15,000.
  • Customers borrowing £7,500 over 5 years (60 months) would repay £145.15 per month with a total amount repayable of £8709.00 . A deferment option is available allowing borrowers the opportunity to delay making repayments for up to 3 months.
  • Loans are available to customers aged between 18 and 74 years old.

Last Updated: 07/08/2012

Apply for a Tesco Loan Online

By reducing selected APRs, Tesco Bank has made their £7,500 to £14,999 loan range even more competitive. Consumers will still continue to receive market leading interest rates for loans over £15K and even for those looking to obtain smaller loan amounts the product remains relatively competitive.

Those clients who already have an existing loan with Tesco Bank, and apply for an amount increase, will also benefit from this rate reduction.

What next?

Use our loans calculator to work out your monthly repayments and find the cheapest loan for your circumstances.

Learn about the different types of bank loan and how lenders make their money.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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