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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
Revision #
7 of 7
Last update:
‎05-04-2017 10:21 AM
Updated by:

What a great weekend! Can’t say thanks enough that I managed to sell the very old car, give my Mrs my 11 plate Audi and buy a 14 plate VW but also settle the previous HP so my monthly instalments will stay the same just for longer time with half APR! All thanks to Tesco loans!



I've had a loan approved online today and was told I could digitally sign the documents but it did not allow me to do this and the operator said they did not know why, despite being on the phone with them when I was competing the application. Since then I have read online that to sign digitally you need to be logged onto online banking. Is there anyway I can still receive this digitally to speed up the process now I am logged onto online banking?

Hi @Sazjenn,


I'm sorry to hear that! If the application has now been processed you won't be able to log in to sign digitally at this stage as the pack will be on its way to you and will now require a manual signature. Apologies if that's not the answer you were hoping for and hopefully the documents arrive for you soon so you're not delayed too much! 


- Michelle



I applied and was approved for a loan, when I tried to save my application it said "session timed out", but when I try and apply again if says i already have an active application? I never received an application reference number though, can you help?

Hi @Splat13, it sounds like the first application is in progress! Please call our customer service team on 0345 600 6016 (Mon - Fri: 8am - 10pm, Sat - Sun: 9am - 5pm) and my colleagues will be able to confirm the next steps for your application :)


I applied for a loan last week but i haven't heard anything. How do i know if my application was received ok when done online?

Hi @Ropera, I'm sorry to hear that you've not heard back about your loan application. So we can check the current status of your application, please send a private message to @CET


Please note: don't include the @ symbol when putting in the contact details via private message, just CET.


In the message explaining your situation, include your name, date of birth and postcode.


For details like your DOB and postcode we ask for you to format it with additional spaces, i.e. A B 1 2 C D and 2 4 1 0 2 0 1 6, otherwise the information is removed by the system.


Hello there,  I have just had my loan funds but waiting for paperwork to arrive.  I phoned Tesco Bank and asked for the account details to enable me to register online and see my loan account.


Does the online account view replace paper loan statements or are these still sent in the mail and at what point? 


Thank you