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Loans

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 find out how to get your settlement figure, please see our existing FAQ Is there a a fee if I settle my loan early?

 

Making an early settlement payment?
After you have received your settlement figure from us, you can make your early settlement payment in the following ways:

  • Online Transfers via Faster Payment using your sort code and account number. Your account details can be found on a loan statement or within your account overview within online banking.
  • 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.

For more information on making additional payments towards your loan, please see our existing FAQ Can I make additional payments to my loan?


Please call 0345 600 6016*. Lines are open Monday - Friday 8am to 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.

Comments

Hey @ayadav80, we're not able to arrange call-backs I'm afraid. To send a private message you need to search user 'Tesco-Bank' and click send message on the profile page. Alternatively, you can also message us via Facebook or Twitter. 

Is everyone else is also finding it difficult to get the settlement figure from Tesco Bank. I have tried everything even the secure messaging BUT no one is answering or giving replies .....

Hi @ayadav80, thanks for getting in touch. My colleague Kelly replied to your other message, I'm sorry if you missed this. So we can look into this for you, can you please send a private message to Tesco-Bank?

Hi,

I sent a private message yesterday afternoon requesting early settlement info but haven't had a response. Please advise how I can get a settlement sum.

Thanks

Steve

Hi Steve, sorry about he delay in getting back to you. I've now replied to your private message!

I would like an early settlement figure for my Tesco loan - how can I arrange this and how do I pay ?

 

Many thanks.

Hey @baxi, thanks for getting in touch. If you send a private message to Tesco-Bank, we'll be able to confirm this for you. 

I've requested an early settlement figure via a private message - when can I expect a reply?

I can see that my colleague has replied to your private message - Keigan

Thanks Keigan. Yes, they did however I'm still waiting to receive the figure.