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Can I settle my loan early?

Yes, you can settle your loan at any time during the loan term; however an early settlement fee of up to two months interest may apply.


To settle your loan call 0345 600 6016* and we’ll confirm your early settlement payment amount. The settlement amount will include the early settlement fee which will include any interest rebate we must give you.

Making an early settlement payment?

You can make your early settlement payment in the following ways:


  • Online Transfers We will give you our sort code and using this along with your loan account number you can transfer the payment to us from your account.
  • Debit card payments can be made over the phone on 0345 600 6016*. The debit card must be in your name and registered to your home address.  We cannot accept payment by credit cards.
  • Cheques should be made payable to ‘Tesco Bank’ and write your loan account number and sort code on the reverse. Post cheques to Tesco Bank, Loans PO Box 27014, Glasgow G2 9FE. We’ll refund any monthly repayments made between the time you send us the cheque and when the cheque is applied

Should I cancel my Direct Debit?
No, we’ll cancel the Direct Debit instruction for you as soon as your final payment has cleared. In the unlikely event of an overpayment, the funds will be returned to you within 8 working days.

Lines are open Monday to Friday 8am to 10pm, Saturday and Sunday 9am to 5pm.


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

Version History
Revision #
9 of 9
Last update:
‎05-04-2017 10:20 AM
Updated by:

Can i please have a Baalancee on my loan please Wanting to Borrow again Many thanks

We can't give such information over social media @cheralyn

You can view your balance online at (if registered) or by giving us a call on 0345 600 6016 anytime between Mon - Fri: 8am-10pm and Sat-Sun: 9am-5pm.

Hi I have a loan with you for about £17000 (with interest) and I've paid nearly 2 years back.. I was wondering if the interest would reduce for early repayment, thanks

Hi @pigeon221984, thanks for your query. So we can calculate an accurate figure for early settlement of your loan, please give us a call on 0345 600 6016 open Mon - Fri 8am - 10pm and Sat - Sun 9am - 5pm


Hi, I have just paid off my loan (final payment) does my good payment hostory with yourselves help/count towards me if I apply for another loan with yourselves?

Hi @adamt, thanks for getting in touch. We take everything into account when you apply, including your payment history :-) 

Thanks for the reply ScottW, as I already have a tesco profile woth good payment history would you still need to perform credit checks etc?

Also I never seem to get the email verification email, why would this be?  It does not go into my Spam folder either

We would still need to perform a credit check @adamt as you'd need to apply via the same route and fill out your details again and this would then include identification validation checks including a credit check too.


As for the email you mentioned, can you confirm which verification notice it is you were expecting? Was this for your loan account?


Please elaborate further on what email this is and why you were expecting it and we'll certainly look into this further :-)


- Michelle


@MichelleC, if I try to start a topic or send a private message it states my email has not been verfied and the private message gives me no box to be able to type in (hence why I have to ask this on here and not private message!).


I received a text to say my loan was approved on Tuesday and no furthe documents were required after I spoke to someone on the phone after I received the text and I just need to sign and return the documents Tesco send out.  How long will it take for me to recieve these documents?