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Tesco Bank slashes personal loan rate for Clubcard customers

Tesco Bank has cut the interest rate on personal loans between £15,001 and £25,000 to 3.4%APR representative (reduced from 4.8%) for Clubcard customers on terms of less than 8 years1. This exclusive rate for Clubcard holders is one of the leading rates available. For Clubcard customers looking to borrow between £7,500 and £15,000, the bank continues to offer a highly competitive rate of 3.4%APR representative for terms of less than 8 years.

Tesco Loans have a straightforward application process2 and customers can make fixed monthly payments and there are no set-up charges. Eligible customers also have the option to apply for a payment break at the start of the loan.

David McCreadie, Managing Director, Banking at Tesco Bank, said: “We want to help our customers by offering great value, hassle-free loans. We are pleased to offer Tesco Clubcard customers one of the most competitive loan rates available.”

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.

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For more information and media enquiries please contact:

Tesco Bank press office

+44 (0) 131 274 3630 

Notes to Editors

1 Loan rates for terms between 8-10 years and rates for non-Clubcard customer are available on the Tesco Bank website. 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.

2 Customers can apply online, including via their smartphone or tablet, 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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