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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

Hi, I have tried to ring and check online about whether there is a charge for me to settle my account early but there appears to be problems with the number and webpage.  Can you help please?

Pm sent to @Tesco-Bank for my settlement figure. 

What a settlement figure for my loan tried doing private message but don't think it went through its very confusing to use

Hi @palmers, sorry about that! I can't see your private message. Can you please try to send another over to us at Tesco-Bank confirming your full name, DOB and postcode? 

Hello again, i posted a request but no one has got back to me yet but a message placed after mine gas had a response.

Could I have a settlement figure please.

I've replied to your private message - Keigan

@KeiganM I have tried to PM you but it says you are not enabled to receive PM's. There seems to be a history of problems with communications looking back through this feed. If I can't PM you & can't get through on the phone how do i find my settlement figure please? 

I'm really sorry about this. Are you still having the same issues with this when sending a private message? - Keigan

Why can't I send a private message to@tesco-bank

Is there an error message showing on-screen when you try to message us privately?