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Tesco Bank offers lowest rate loans to Clubcard customers

Tesco Bank has today announced that it will offer its lowest rate loans to Clubcard holders. The new rates are among the most competitive in the market and offer great value for Tesco Clubcard customers looking to buy a new car, improve their home or consolidate their finances. Customers with a valid Clubcard will be able to apply for a Tesco Loan at the following rates*:

Loan range

Rate

£1,000 to £2,999

15.0%APR representative

£3,000 to £4,999

12.2%APR representative

£5,000 to £7,499

4.7%APR representative

£7,500 to £15,000

3.7%APR representative

£15,001 to £25,000

5.8%APR representative


Tesco Loans have a straightforward application process**, fixed monthly payments and no set-up charges. Customers can choose their repayment date and have the option to apply for a payment break at the start of the loan (subject to eligibility).

David McCreadie, Managing Director, Banking at Tesco Bank, said: “Our ambition is to be the bank for people who shop at Tesco. From today, we are offering Tesco customers our best personal loan rates and I am delighted that these new rates are among the most competitive in the market.”

Tesco Loans are available between one and ten years, depending on the loan amount and purpose of the loan. Customers should visit http://www.tescobank.com/loans/ for more information.

--ENDS--

For more information and media enquiries please contact:

Tesco Bank press office

+44 (0) 131 274 3630 

Notes to Editors:

*These interest rates are exclusively for Clubcard customers. The rates shown for loans between £7,500 and £15,000 and £15,001 and £25,000 are for terms less than 8 years. More information and rates for non-Clubcard customers can be found by visiting http://www.tescobank.com/loans/.

Both new and existing Tesco Bank customers can apply. Tesco Loans are available to over 18s only, subject to status, UK residents only. The interest rate offered will depend on the loan type, the repayment term, the amount the customer wishes to borrow and their individual circumstances.

**Customers can apply online, including via their smartphone or tablet, at http://www.tescobank.com/loans/ or by calling 0345 600 6016, Monday – Friday between 8am – 8pm, Saturday and Sunday between 9am – 5pm. 

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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