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    Tesco Personal Loan - Final Checks?
    22-02-16 , 09:43

    HiThis is my first post and probably in the wrong place but I am struggling to get to grips with where things are and also being able to start a new post.I am a Tesco Bank Customer, I have 2 current accounts both full, taking advantage of the 3% interest and I have 2 credit cards also. I have got some very expensive times around the corner and so decided to apply for a personal loan last week, rather than eat into all my life savings. I applied for 20K over 120 months and was accepted, with a decent APR and payments I can afford. I received the agreement on Saturday and have signed it and returned it today. I was reading up and saw that it said in my agreement that once the signed agreement was returned, there would be some final checks made and if all ok the money will be released by faster payment to my nominated account. I am a little confused by what "final checks" this refers to? I assume I was credit checked at the time of the application when it came back as accepted. There was no request for anything more than signing the agreement and returning it and I was assuming that once I had done this the money would have been made available. Does this "final checks" mean that I might still be turned down after being accepted? Or am I misunderstanding something? Thanks in advance
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    Best Answer Re: Tesco Personal Loan - Final Checks?
    24-02-16 , 11:21

    Hi Simon, if you were not asked to provide any further documents then the final checks would be checking that your agreement has not been altered in any way & you have signed and dated where necessary.

    If all this is ok, the funds would normally be released within 24 - 48 hours. Hope this helps
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    Re: Tesco Personal Loan - Final Checks?
    24-02-16 , 13:45

    Hi StephenThank you for taking time to answer me. I am very happy to report though that having posted the signed agreement on Monday morning, the funds were paid into my account around 1 pm on Tuesday. I have to say that is fantastic service as they only received the agreement that morning and I was expecting an agonising wait until Thursday or Friday. I also received a text from Tesco this morning at 8 am to say the funds had been sent and a welcome letter is on the way. It takes a few days longer than with some banks as you need to physically sign the agreement instead of doing it online but it is definately a much more personal experience that way and I can't fault it. I have even left a review on the loans review site which I do not usually do because I was so pleased with how it all went.
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    Re: Tesco Personal Loan - Final Checks?
    06-03-17 , 16:45

    Ok so I applied online Thursday, got the agreement and documents Saturday morning, also asking for a months bank statement. I signed and got a bank statement stamped and sent off today. I read somewhere else that one person got declined after doing the same thing as I have..
    what do the final check include? Do they now credit check or is it done?
    I thought the loan was now approved and agreed as I got the agreement documents. Thanks in advance.
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    Re: Tesco Personal Loan - Final Checks?
    06-03-17 , 16:51

    I saw somewhere else that once he sent the documents back a few days later he was declined and sent a letter saying he was declined for poor credit rating, so you can be declined after you've sent the agreement back right?
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    Re: Tesco Personal Loan - Final Checks?
    08-03-17 , 15:24

    Hi @Shanewhite0302, applications are dealt with on a case by case basis. If we have requested any other documents in support of your application along with the aforementioned agreement then the application could still be declined. We request these documents to support what was stated in the initial application. I hope this information helps.
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    Re: Tesco Personal Loan - Final Checks?
    20-06-17 , 11:02

    Ok guys just to put it out there. My credit history wasn't great, I got accepted in principal.. sent documents off, I ended up getting accepted and the money was in my account few days later :) but they accepted me with a much higher apr.. so your choice if you accept their conditions.
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    Re: Tesco Personal Loan - Final Checks?
    07-08-18 , 19:04

    Hi, i have been approved for a loan and been told they have sent the Loan agreement out for me to sign and that’s it. If they were to ask me for further info like bank statements etc would they of already asked or would it be in the letter they are sending out to me?
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    Re: Tesco Personal Loan - Final Checks?
    09-08-18 , 07:29

    Hi , thanks for getting in touch. At the end of your application we'll make you aware of any supporting documents we may need and we'll also confirm this in the loan agreement we send out as well. Read through your agreement when it arrives and if you're not asked for anything further, all we'll need are the specified pages posted back :-)
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