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Can I increase my existing Tesco Bank loan?

If you already have a Tesco Loan you can apply to borrow more once you have made 8 consecutive monthly payments on your existing loan. When you apply to borrow more, a new credit reference agency search will be carried out.


We only offer one loan per customer. So if you want to borrow more we’ll close your existing loan and the new loan will pay off any existing balance and cover the additional amount you want to borrow. If you cancel the new loan within the 14-day cooling-off period, you won’t be able to re-instate your old one. We will charge you up to 28 days’ interest to pay off your old loan. This is to cover the number of days from when you apply to receiving your new loan. This will be added to your new loan amount and you will pay interest on this, which may lead to an additional cost for you.


The minimum additional amount is £1,000 above your existing loan balance and the total borrowing limit is £35,000. With your new loan you’ll continue to make one monthly payment but the cost of your monthly payment may change depending on the loan term and amount you choose to borrow.


Please note, it's important that you always check the interest rates of any new product. This could be more or less than your current loan and should be considered as part of your decision to increase your loan amount.


How to apply

Call us on 0345 600 6016* and we can give you a personalised quote. Lines are open Monday to Friday 8am - 10pm, Saturday and Sunday 9am - 5pm


Calls may be recorded. *This number may be included as part of any inclusive call minutes provided by your phone operator.


Please can I increase my Loan  extra £5000 please  

Acc **sensitive info removed**

Hi @Funchal, thanks for getting in touch. If you would like to increase your loan please give us a call on 0345 600 6016 (Mon - Fri: 8am - 10pm Sat - Sun: 9am - 5pm) and we can look into getting a quote for you.

Can I apply to ‘add to my loan’ rather than having to phone up?

Hi @mrsc050604, I'm afraid we would have to speak to you over the phone to see about increasing your loan. Apologies for any inconvenience - Thomas

I’ve had a loan with Tesco Bank for over 4 years which I’ve never missed a payment. Will that work in my favour if I want to top up my loan to refinance my total debt- even if my credit rating is lower than what it was when I first got the loan? 

We will take into consideration your financial behaviour and information received from credit references when making a decision on your application @SophiaD06. This will include any existing loans you have had with us, or elsewhere - Thomas

Is there a way to find out my loan sort code and account number? Ive lost the paperwork and want to set up online banking. Thanks

Hi @Littleredlady, thanks for getting in touch. Your loan sort code and account number are available on your welcome pack and on your statements. If you don't have any of these to hand, I can certainly send a copy of your welcome letter to you in the post. This will take 5-9 working days to arrive and if you would like me to arrange this then please private message Tesco-Bank with your full name, DOB and postcode. If you need the details before this time, please give our Loans team a call on 0345 600 6016, available Monday to Friday 8am-10pm, Saturday and Sunday 9am-5pm, and they'll be able to confirm this information over the phone – Carly

Hi. Ive tried calling but all your lines are obviously very busy due to Covid-19. I changed my address recently on line but i am still getting txt messages to say you need to speak to me about my address. Unfortunately i cant get through to anyone. Can you confirm if you do actually still need to speak to me now ive updated my address online. Obviously I dont want to jam up the telephone lines in what is obviously a very busy period. Thank You

Hi @AndyStu, thanks for getting in touch. So I can check this, could you please send a private message to @Tesco-Bank with your full name, DOB and postcode? - Keigan