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Tesco Bank cuts personal loan rates

Tesco Bank has reduced its interest rates on personal loans between £7,500 and £15,000, giving customers one of the best rates available in the market.

Interest rate effective from 8 August 2012:

Loan value Rate Best Buy ranking*
£7,500 - £15,000 6.0% to 5.9% APR representative 1


All loans are available online or over the phone. Customers should visit www.tescobank.com for more information.

Tesco Bank Loans have fixed monthly payments and no set-up charges, the ability to choose the repayment date and the option to take a payment break at the start of the loan (subject to eligibility). Existing customers who apply for further borrowing can also receive an additional reduction on loans** from £7,500 - £15,000.

David McCreadie, Managing Director, Banking at Tesco Bank, said,

“We pride ourselves in offering customers competitive rates and rewarding customer loyalty. Our competitive rates and straightforward application process, which gives an instant decision, make our loans a great choice for customers.”

Tesco Bank offer great loan rates to meet customers borrowing requirements for other loan amounts:

Band Now
£5,000 - £7499 7.8% APR representative
£15,001 - £25,000 7.6% APR representative

 

--ENDS--

For more information and media enquiries please contact:

Tesco Bank press office

+44 (0) 131 274 3630 

Notes to Editors:

* based on defaqto data, information correct at time of issue.
** 0.1% reduction for existing customers.
Loans available to over 18s only, subject to status, UK residents only.

About Us:

Tesco Bank’s goal is to make banking and insurance easier and better value for people who shop at Tesco. We’ve been around since 1997 and today we help more than 5 million customers manage their money every day. Our 4,000 colleagues serve our customers seven days a week from our three main centres in Edinburgh, Glasgow and Newcastle, and we are also available through online and mobile banking 24/7. Tesco Bank participates in the Chartered Banker Professional Standards Board.

Tesco Bank is a trading name of Tesco Personal Finance plc. Registered in Scotland No. SC173199. Registered Office: 2 South Gyle Crescent, Edinburgh, EH12 9FQ

 

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