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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 a credit agreement to check and sign, or where possible you can sign your credit 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 Faster Payments can take up to 48 hours and the money can be withdrawn as soon as the funds reach your account.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 @karlos1983, sorry to hear about this. Can you please send a private message to Tesco-Bank including your full name, DOB and postcode? I'll then be able to look into this for you - Kelly

Hi i applied for a loan 2 days ago and i havent heard anything back and i never got an email or anything to confirm so i was just wondering if it had gone through? 

Hi @weemel10, I'm sorry to hear about this. So that I can look into this, could you message me at @Tesco-Bank confirming your full name, DOB and postcode along with the amount you applied for and the reason you applied? - Ainsley

Hi, 

 

I applied for a loan over the weekend and was told that Tesco couldn't approve my laon there and then, but you'd get back to me within 48 hours (on working days). 

 

This means I should have had a decision by yesterday and I've still not heard anything! I called to day only to be told I should here today, but it's almost 5pm and still nothing. If I'd known it was going to take this long I'd have gone with another lender, but now I'm stuck as can't apply with anyone else as this is still pending! What can I do?

 

 

Hi @gazmaninavan, sorry to hear about this. Can you please send over a private message to Tesco-Bank confirming your full name, DOB and postcode? I'll then be able to look into this for you - Kelly

Hi, I applied and was accepted for a loan yesterday online but have received no communication from Tesco Bank via email or text. Is this normal? 

Hi @miss-scarlet, thanks for your message. We don't send confirmation emails for our products, although if you would like me to check to see if we've received your application please send a private message to Tesco-Bank with your full name, DOB and postcode - Thomas

Hi, yesterday when i applied it said i had been accepted, and said you had a final few checks to make and should expect cash today? ( i could be wrong) but defo said accepted. Does this mean it could still not go through and when will it be as recieved no email or anything yet.

 

Thank you

Hi @Tmac78, thanks for getting in touch. If you send us a private message with your full name, DOB, postcode, the amount and the purpose of the loan you applied for, I'll look into this for you - Jade

Over a month ago, I received a letter informing me that my credit limit had been increased. It was supposed to have been applied yesterday, but it hasn't yet. I haven't received a letter telling me that the increase will not happen, so I wanted to know if it stay will. Aline