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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, 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 Faster Payments can take up to 48 hours and the money can be withdrawn as soon as the funds reach your account.
  • 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.

If you are referred, 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.
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.


Hi @Walker690, thanks for getting in touch. If you called our team to change the amount or term then we'll process this for the next 2-3 business days. As soon as an outcome has been made we'll contact you by phone or by sending you out documentation for you to sign and return.  

Good morning,


I applied for a loan in order to replace my kitchen, and it was accepted.  The paperwork has just arrived, but now I am unsure if I applied for enough!  If I wanted to alter the amount applied for would it be a whole new credit search, and would there be a chance that it would be rejected for the new (higher) amount?  Many thanks

Hello @Jen2608, thanks for getting in touch. You wouldn't need to apply again, just give us a quick call on 0345 600 6016 (Mon - Fri: 8am - 10pm Sat - Sun: 9am - 5pm) and my colleagues will help you. We need to perform an internal check to make sure that the loan is still affordable, however there is no further credit search. Due do this, we can't guarantee that the new amount would accepted. I hope this helps - Caroline

Thanks so much for your response @CarolineM - thats really appreciated!  If it was decided that the new amount is not affordable and is therefore not accepted, would it affect the original decision?  i.e. would I still be able to go ahead with the original amount requested?  Thanks again

@Jen2608 Once the application has been changed to the new amount, this overrides the original and we wouldn't be able to revert back. If you call us on the above number, my colleagues will be able to provide some more information for you - Caroline

Hi, my partner applied for a personal loan yesterday, it sent that the application was approved, it required a few more checks and it should be complete within 24 hours. I've read that some additional documentation may be sent, is this the case? If so, how is this received? If it says it has been approved, is that enough for us to assume the application was successful?


Many thanks



@Char90 Thanks for getting in touch. If you can message us @CET and confirm your full name, DOB and postcode, we'll look into this for you.

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.”


Out of curiosity. If i change my mind, can I just not sign the paperwork and let the offer expire ? Would that cancel the loan ? Also, would it have any negative consequences ?


i assume not since the smallprint says “sign if you wish to be legally bound by this agreement” so if I don’t want to be bound by it, for whatever reason, i assume i can just ignore the documents and let it expire ?

Hi @Akiainavas, you can let the application expire should you no longer wish to proceed. However, it would still show on your credit history that a search was performed. 

Hello. I am deaf I just want know I have (PIP) benefit income can use personal loans ?? 

Please let me know thanks.