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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 Faster Payments can take up to 48 hours and the money can be withdrawn as soon as the funds reach your account.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 @zufhar2016, thanks for your message. We do accept PIP as income for your loan application, I hope this helps!

I applied for loan online 21 December and get approved in 5 minutes and also do online digital signature on credit arrangement with Tesco. I also call 0345 600 6016 but they also don't know proper anything. What I can do in this situation. I still not get call or message from tesco.


Please advise 

Kind regards 


Hi @Harry2, thanks for getting in touch. So I can look into this for you, can you please send your full name, DOB and postcode to @CET

Hello good afternoon. I have fill application for loan but one thing don’t have PIP income there in application loan question say first source of additional income?  I have PIP income Can you help me this?? 

Hi @Zughar2016, unless there's an option to choose this type of income specifically, just add this into your net monthly income section. 

I don’t know which one choose can put carers allowance ??  Is ok put carers allowance in my application loan??

This wouldn't be the same as PIP income. Unless it specifically says PIP, please include it in your monthly income section.

I have put income monthly but say must choose First source of additional income??

Nothing there list PIP ?? So i don’t know how sort it out this my application loan??  I need help me this application loan for my pip income?? But I can’t hear on phone contact to Tesco loan?? Please can you help me this sort it out application loan. 



You would have to put your PIP income in the net monthly income section. E.g. if you are also putting income in this section from a job, you would have to add these together first. If you've tried this, and it still isn't working, I'd recommend getting in touch with our Loans Team on 0345 600 6016 (Mon - Fri: 8am - 10pm, Sat - Sun: 9am - 5pm) who can try their best to help you. Alternatively, they can run through an application with you :-)

Hello, I have applied for private loan like 6 months ago, at the end of application I get message smth to call tesco bank, I didint need that loan much so I leaved it, I would like to apply for loan and my question is, should I call tesco bank and tell them that whole story before applying or Can I just fill up online application?