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What happens when I apply for a Tesco Bank loan?

When you apply for a loan, a credit reference search will be carried out and a credit score will be calculated based on the information you enter and your credit reference information. This will determine if we’re able to offer you a loan and you’ll receive one of the following decisions:


  • Approve – We’re happy to offer you a loan. If it's just you applying you may be offered the ability to sign your loan agreement digitally and get your funds next day, or the same day if you are logged in to Tesco Bank when you apply.
  • Approve in principle – We may be able to offer you a loan, but need a bit more information from you before we can fully approve your loan
  • Refer – In some circumstances we may need some more information from you before we’re able to make a decision. We'll contact you, if necessary.
  • Declined – We're unable to offer you a loan. If you've been declined as a result of a Credit Reference Agency search, we recommend you obtain a copy of your credit file and check the information on it before reapplying or applying for credit elsewhere.

If your application is approved or approved in principle:


  • You’ll receive some important documents within five days, which you’ll need to check, sign and return to us.
  • We may also request some additional documents to support your application, such as proof of your identity or address. You must send these with your signed loan documents.
  • Once we receive your signed loan documents, with any supporting documentation we requested, we'll make some final checks.
  • Once we're happy with the information you've sent, we'll fully approve your loan and pay the money into your bank account.

Please note: your loan offer is valid for 30 days from the date you applied, so it's important you return your documents to us before your offer expires.

Version History
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Last update:
‎05-04-2017 10:21 AM
Updated by:

Hi @Shaun2, we would send the aforementioned text when we've posted a credit agreement to you. You should expect to receive this within 3-5 working days and if you could follow the instructions on the letter and return the requested documents to us. If you have any enquiries about your loan, you're able to call us on 0345 600 6016 and the lines are open Mon - Fri: 8am - 10pm and Sat - Sun: 9am - 5pm. I hope this helps. 




i applie for the Tesco loan online got a screen showing what has been approved. It mentioned I would receive documents in 3 working days.  I haven't received any text message nor email confirmation yet on the same.. my credit report shows Tesco bank did a credit check.. can u help as to what is the position of my application.. it's so dark at the moment

Please get in touch on the number my colleague Ross has provided above, and we'll provide an update @Prasun0403


Hi - I've just applied for a loan online and said been approved. Said sending out the docs to sign and return in 3 days. Not had any email confirmation thought. Is this normal?

Also, as it has been approved, is the signing and returning of docs just a formality?


Hi @Tinytim2701, I'm unable to confirm if your application was accepted via this channel. However, if you received an on-screen message confirming that you have been accepted then we would only require the requested documents to be signed and returned to us. I hope this information helps.


Hi, when I applied for a loan I was asked if I wished to consider a 2 month payment holiday and I said no.  I have just received my documents to sign, is it at all possible to change my mind about the holiday before signing the document? Thanks

Hi @Loobylouw


We would only be able to amend your preference on payment holiday if you are still at the application stage. If the application has concluded and funds have already been dispersed, we wouldn't be able to retrospectively provide a payment holiday.


If the funds are still to be sent to your account, we would need to speak with you on the phone. We would need to speak with you and reprint the credit agreement then send this for you to sign. The number to call is 0345 600 6016 (Mon - Fri: 8am - 10pm and Sat - Sun: 9am - 5pm).




Thank you very much for this information Jay


I was accepted and signed an online application on Fridat night and was told I would receive the funds within 24 hours.


I know this is a rush but I need the money, the reason I signed was because I would get the money so soon.


I applied for a Tesco loan on Friday, clicked on some agreements at the end of it and was given a break down of the APR and repayments and then it all disappeared so I have no idea if it went through or if it didn't....