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Tesco Bank cuts personal loan rate

Tesco Bank has reduced its interest rate on personal loans between £3,000 and £4,999, giving customers one of the best rates available in the market.

Loan value Rate Best Buy ranking*
£3,000 - £4,999 12.8% APR representative (reduced from 15.9%) 1


The new interest rate is effective from Tuesday 26 February 2013.  All loans are available online or over the phone. Customers should visit for more information.

Tesco Bank Loans are convenient** and have a transparent and straightforward application process. The 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)***.

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

“We are delighted to be offering customers this new loan rate. We know customers are looking to get the most out of their money, and our highly competitive range of loans gives customers more choice when managing their finances.”


For more information and media enquiries please contact:

Tesco Bank press office

+44 (0) 131 274 3630 

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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