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Loans

How long will it take to get my loan?

If you apply online, we try to give an instant decision to confirm if you are accepted, whether we need further information (see below), or if you're declined.

If you’ve been approved, we will either send you some paperwork to check and sign, or where possible you can sign your loan agreement digitally. We’ll then use Faster Payments to send the money directly to your bank account. Faster Payments can take up to 48 hours and the money can be withdrawn as soon as the funds reach your account.

If you apply over the phone or we require some supporting documentation:

  • If you are approved, we will send you a credit agreement for you to sign and return.
  • If you are approved in principle, we will send you a credit agreement to sign and return and a list of any other documentation we require.
  • If we can’t lend to you, we will let you know.

It may take between 5 – 10 days for us to check everything is ok. As we try to do this as quickly as possible, we do not send an acknowledgment email or letter, but will inform you as soon as a decision has been made. Once your returned agreement is processed, we use Faster Payments to send the money to your account.

If you gave us your mobile number during your application we will send a text when the funds have been sent to your account, followed by a welcome letter.

Should you need more information or have any questions, please call us on 0345 600 6016* (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.

Comments

Hi I applied through the tesco app but have not heard anything could someone tell me how long it takes 

Hi @nadinerivers25, if we're not able to give you an isntant decision It may take between 5 – 10 days to complete. However, we will inform you as soon as a decision has been made - Ross

Hi, 

 

i was advised at the end of the loan application it would take two days to hear and have yet to hear.

Hi @JJohnstone10 , we've replied to you privately :) - Jade

Hi, I made the application and received a text advising I was accepted and should receive paperwork two days ago. Can you tell me if I need to provide any additional information or is it just a sign and send back? Thanks!

Hi there, thanks for getting in touch. So we can take a closer look into this, can you please message us @Tesco-Bank with your full name, DOB and postcode? – Keigan   

Hi, I made the application and received a text advising I was accepted and should receive paperwork in 2 days. Can you tell me if I need to provide any additional information or is it just a sign and send back? Can it  ot be signed on line and will it be at the advertised rate?

Hi @Etaylor1983, thanks for getting in touch. We won't be able to confirm the interest rate you've been approved on here, but I can certainly check what documents we've sent out to you. Can you please message @Tesco-Bank with your full name, DOB and postcode so we can look at this for you? - Carly

Applied for a personal loan today and went through completely and wondering when I should expect to receive a text or email regarding it ?

 

Many thanks  

Hi @Knack, thanks for getting in touch. Can you please message us at Tesco-Bank with your name, DOB, postcode, the amount you applied for and the purpose of your loan?