Tesco Bank cuts rates across personal loans range

Tesco Bank has reduced interest rates on personal loans across its range, offering customers some of the most competitive rates currently available in the market.

Loan value Rate
£3,000 - £4,999 12.3%APR representative (reduced from 12.8%)
£5,000 - £7,499 5.7%APR representative (reduced from 6.0%)
£7,500 – £15,000 4.5%APR representative (reduced from 4.6%)
   £15,001 - £25,000 6.3%APR representative (reduced from 6.6%)


The new interest rates are effective from Friday 28 March.  All loans are available online or over the phone. Customers should visit www.tescobank.com 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 apply for a payment break at the start of the loan (subject to eligibility)**.

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

“We constantly review our loan rates to ensure our customers are getting good deals, and today’s introduction of some the most competitive rates in the market across the range underline this commitment.”


For more information and media enquiries please contact:

Tesco Bank press office

+44 (0) 131 274 3630 

Notes to editors:

* Customers can apply online and by phone, 0845 600 6016, Monday to Friday between 8am – 8pm, Saturday and Sunday 9am – 5pm.  Customers can save and return to online applications.

**Tesco Bank Loans are available to over 18s only, subject to status, UK residents only. The interest rate offered will depend on the amount the customer wants to borrow and their individual circumstances.

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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