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Tesco Bank launches new personal loan range

Tesco Bank is today launching a simplified range of personal loans offering customers some of the most competitive rates on the market. The personal loans are available for both Clubcard and non-Clubcard customers and apply to the following loan amounts:                                              

Loan Amount Representative APR
£5,000 - £9,999 3.3% for loan terms of 1-7 years
£10,000 - £25,000 3.1% for loan terms of 1-7 years

Tesco Loans have a straightforward application process1, 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 loan2.

David McCreadie, Managing Director at Tesco Bank, said:

“We know that for some customers a personal loan is the most cost efficient approach to managing their money or to finance a car or home improvement. Our new range of personal loan products offer customers some of the most competitive rates on the market and I’m delighted that they are available to apply for from today.”   

The simplified loan range is available now and customers should visit http://www.tescobank.com/loans/ for more information.

--ENDS--

For more information and media enquiries, please contact:

+44 (0)131 264 3152 / +44 (0)7841 456 956

Notes to Editors:

1Tesco 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, or by calling 0345 600 6016, Monday – Friday between 8am – 8pm, Saturday and Sunday between 9am – 5pm. This number may be included as part of any inclusive call minutes provided by your phone operator.

2 Interest will continue to accrue during the payment break.

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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