• Join Date: Jan 2021
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    Charges on balance
    22-01-21 , 16:55

    Hi, I cannot find any information about this. How much is charged on a 0% interest balance to make monthly payment. Is it 2% of the outstanding balance. Thanks.
    Click below to see solutions
  • Join Date: Mar 2020
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    Best Answer
    22-01-21 , 19:47

    Hi @Julie57

    Your minimum payment will be the greater of:
    The total of all interest, default fees and annaul fee charged on your statement plus 1% of the new balance shown on your statement, plus any arrears carried over from your previous statement or
    £25 plus any existing arrears carried over from your previous statement or
    The amount you owe over your credit limit including any over limit fees or
    The total of all interest, fees and annual fee charged on your statement plus £10.00 plus any overdue amounts from previous statements rounded down to the nearest pound or
    2% of the new balance on your statement plus any overdue amounts from previous statements rounded down to the nearest pound or
    The amount you owe over your credit limit including any over limit fees.

    Should you need a more specific response please send Tesco Bank a 'Private Message' so this can be checked out and an appropriate response can be provided.
    Click on this link Tesco-Bank then scroll down, on the left hand side click 'Send Private Message'.
    Complete it, click 'Submit Message' and this will send your message securely and privately.
    Please include your full name, date of birth and postcode along with your account details.
    You will receive a reply to your private message, with the appropriate response.

    Hope this helps!!

    Have a lovely weekend, Caz @25H
  • Join Date: Mar 2020
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    23-01-21 , 10:14

    Hi @Julie57

    Please allow me to clarify this for you. ✅

    You will not be charged any monthly interest on spending or balance during your 0% interest free period.

    If you miss a monthly payment however, then you will be charged a late payment fee of £12.

    Best Regards,

    Chris, @CSKBrambles
  • Join Date: Mar 2020
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    23-01-21 , 11:26

    Hi @Julie57

    FYI @curry99 put this on here regarding their 0% balance.
    https://yourcommunity.tescobank.com/...ou-think-it-is
    Not sure if its applicable to your 0% balance, just wanted to make you aware 😀

    Stay safe and have a lovely weekend, Caz @25H
  • Join Date: Jan 2021
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    23-01-21 , 13:38

    Hi Chris, Thanks for your kind reply. I am wondering how my monthly payments are charged and how much this will be. It is usually 1% of outstanding balance but I think Tesco Banks applies 2% of balance for monthly payment?
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