Tesco Bank reduces loan rate - Loans - News | moneyfacts.co.uk


Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Tesco Bank reduces loan rate

Tesco Bank reduces loan rate

Category: Loans

Updated: 26/02/2013
First Published: 26/02/2013

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 It is now over 6 months old so the content may be out of date.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 announced a 3.1% reduction to its unsecured personal loan rate for borrowing amounts between £3,000 and £4,999.

The basics…

A rate of 12.8% APR is now offered for Tesco Bank's lowest loan tiers of between £3,000 and £4,999.

The finer details….

Rates are representative and dependent on credit rating, loan amount and term.

A typical monthly repayment based on a loan amount of £5,000 over three years would be £155.60.

Why we like it….

Despite a reduction of 3.1%, this loan still offers a competitive rate to those borrowing low amounts of money. Four out of five Moneyfacts Stars have been awarded.

What next?

Find out how much a Tesco Bank loan could cost you each month with our handy Loan Calculator.

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 Any products featured may be withdrawn by their provider or changed at any time.