Tesco Loans Contact Number0844 453 0139
Loans can be helpful in times of financial hardship. Get a quote with the Tesco loans contact number today, they can offer loans suitable to you and your situation. They can also offer impartial advice on how to protect your funds in the future.
Why would I need to call the Tesco Bank Loans number?
- To apply for a loan.
- To arrange repayments.
- To make a complaint.
- To enquire about information regarding a past or overdue loan repayments.
Tesco Loans products and services
Tesco loans are part of the Tesco Bank. To find out if you are eligible, contact Tesco loans either online or by using the telephone number at the top of the screen.
Tesco offers personal loans, and at the time of writing in 2013, the amount you could borrow started at £3000 and went up to £25,000. Today you can borrow up to £35 000 from the company. Tesco loans are an alternative to bank loans, as they have fixed rates, no set up charges, fixed monthly payments and a payment break option at the start. A payment break means that you don’t have to start paying your loan back straightaway. Loans for Tesco clubcard holders have a 3.4% APR for terms less than 8 years.
You can apply for a Tesco loan online and see how much you are eligible to borrow by using the dedicated loans calculator. The interest rate on your loan will depend on the amount you wish to borrow as well as your individual circumstances. The calculator available on their website can show you how much you are eligible to lend and how much you would have to pay back over a set period of time.
The loans are available only to UK residents who are over 18. To find out more about interest rates, call the Tesco Bank contact number above or visit their online page for more details.
How Do Tesco Loans Work?
Tesco Loans pride themselves on being able to give you the money that you require upfront and then allowing you to spread the cost of paying it back over a suitable time period. This means that it doesn’t matter what the loan is for, whether it is a once-in-a-lifetime holiday, a new car or home improvements, a personal loan from Tesco can make it more affordable for you. Tesco loans pride themselves on offering unsecured personal loans. This means that the loan you apply for does not have to be tethered to a car or a house or mortgage. Once you obtain the loan, the money is yours to do with what you want. This means you can spend it on a holiday of helping family members. You can choose for how long you repay your loan back to Tesco Bank as well, from 12 to 120 months (depending on the amount you borrow).
Tesco Loans can be altered down to the last pound, meaning that is you only need to borrow £3,985, you won’t have to take out a loan for £4,000. The loans are available for big and small amounts and the interest rate on the loan is fixed for the life of it. Interest is normally calculated on a day-by-day basis.
Tips on Taking out a Loan with Tesco Bank
Before taking out a loan with Tesco Bank, it’s important to consider these tips:
- Do research. You may be able to find a cheaper loan elsewhere, we recommend looking at compare sites to see which loan will suit you best.
- Check for penalty charges. ALWAYS read the small print on a loan. Always read the contract and understand the ins and outs of everything you read. You don’t want to end up being fined for making small mistakes in the way you pay back your loan.
- Fix your interest rate. By setting a fixed interest rate, you know the amount of money you’re paying back each month. If you don’t do this, you could end up paying a lot more than you intended to/can afford to pay back. Interest rates can fluctuate and you can end up paying extortionate prices on the loan you decide to take out with your chosen loan company – including Tesco Bank.
About Tesco Bank
Tesco Bank was founded in 1997 as Tesco Personal Finance, before changing the name to Tesco Bank in 2008 as a result of branching out into the insurance sector. The banks was formed as a merge of The Royal Bank of Scotland and Tesco. Tesco later bought out the RBS share of the bank and owned the whole bank, which has a banking license under the Financial Services and Compensation Scheme. The supermarket originally intended to create tesco bank stores nationally, and officially opened three in-store counters. Much like the co-operative bank, Tesco would keep the name of the Supermarket, however completely operate as a bank. However, the decision was made in 2016 to completely shut down the three counters in-store, and only have Tesco Banking as an online venture only. From 2016 you can no only apply for loans either online or by calling the number above and enquiring about loans available to you.
Tesco do still offer travel bureau’s in a lot of their stores nation-wide, where you can still get travel money. However this is not to be confused with Tesco Bank.
Tesco used to have a banking venture with Natwest, however the venture ended in February 1997. The bank is registered in Scotland at Interpoint Building, 22 Haymarket Yards, Edinburgh, EH12 5BH.
Number Direct is a telephone directory and call routing service and is not connected to Tesco. The direct contact number for Tesco can be found in the public domain or on their official website.