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Loans

Am I eligible for a Tesco Loan?

To apply for a Tesco Bank Loan you need to meet the following criteria:

  • Aged between 18 and 74. You must be aged under 75 at the end of your loan term
  • Be in employment with no probationary period, or have a regular income e.g. pension
  • You've lived in the UK for at least three years
  • You have a UK personal current account

Please note the following criteria which applies to our loans:

  • If the loan is to repay other debt (refinancing), the minimum age is 22 years old
  • For loans under £3,000 the maximum term is three years
  • For loans under £15,000 the maximum term is five years, except for loans for home improvements which is 10 years
  • For loans over £15,000 the maximum term is 10 years, except for refinancing which is seven years
  • For a joint application, the main applicant's bank details must be the named account used for making repayments
Comments

hi i bought car insurance from tesco and got loan from tesoc bank which i am paying back evrery month so is that possible to have tesco perosnal loan easily ? or would it be hard credit search if i apply for new loan ?

Hi there, thanks for your post! It's a full credit search that is completed when you apply for a top up loan. If you have made 8 consecutive direct debit payments then you may be eligible for a top-up loan. However, I'm afraid the only way to complete this is via telephone. Please call our Loans Team on 0345 600 6016 (Mon - Fri: 8am - 10pm Sat - Sun: 9am - 5pm) and one of my colleagues will be happy to discuss this with you. I’ve also attached a link with some more information on this - Ainsley

 

https://yourcommunity.tescobank.com/t5/Loans/Can-I-increase-my-existing-Tesco-Bank-loan/ta-p/714