Home > Finance > Banking & Personal Finance > Loan Lenders > Tesco Personal Finance Loans

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Community Level 5littlemiss...

littlemissdrunk

The Other Side

AdvantagesGood rates and well trained staff

DisadvantagesDecision process on loans may be too long for those in need of money quickly

"...can be picked up at Tesco supermarkets, filled in and sent off. All types of application are processed by the same people, so by sending the form you are prolonging the process. Also, a lot of the time, forms will have not been filled in correctly by the customer. You may well think "well I can fill in a form!", however, you'd be surprised. It's very easy to put in what you think they are asking you, when in fact, they need a different figure etc. ..." Read review
06.10.2001

Ciao members have rated this review on average: very helpful

Community Level 5ginger59

ginger59

EVERY LITTLE HELPS no matter how much you borrow.

Advantagescan apply online or on hard copy. Excellent rates for higher amounts borrowed. Fast decision, usually

DisadvantagesPostcodes are vital!

"...loan until I was in Tesco and i happened to see one of their loan leaflets- it's quite distinctive and has a shopping trolley on the front. Anyway, the leaflet said it was even cheaoer to apply on line and ever one for getting on line and exlporing, I gave it a go. SIgning on to the Tesco websie is easy. Tesco.com will find you on the site. Click on "personal finance", and a full product range will come up, which includes insurance and loans. Click ..." Read review
01.10.2003

Ciao members have rated this review on average: very helpful

Community Level 3bsky

bsky

where did all that money come from

AdvantagesGood APR

Disadvantageshaving to pay back the money

"...As I already had a Tesco Visa card I decided to contact them and find out if they were prepared to offer us a loan. We contacted them by telephone on the number given on the back of the Visa card itself, 08456 040 409, and were given a menu to select options from. As there were only a couple of options it was easy to make the right choice. Our call was answered quickly and we were asked all the usual questions about income, reason for applying ..." Read review
16.05.2001

Ciao members have rated this review on average: very helpful

Community Level 3polishedpoo

polishedpoo

Tesco a go-go

AdvantagesLow APR, Excellent Customer Service

DisadvantagesThe whole process can take up to around 10 days.

"...loans, have a holiday etc, Tesco is definately one of the ones you should seriously consider. The APR they currently have is 9%, which is fixed for your chosen term, and you'll find that they are quite non-biased as to the purpose for which you need the funds. Their Customer service is excellent and you will get an agreement in principal there and then. They will then send you out the paperwork, within a few days, which you'll obviously need ..." Read review
07.06.2001

Ciao members have rated this review on average: helpful

Community Level 2Infernoid

Infernoid

How low do you want to go

AdvantagesLow interest rates

DisadvantagesSlow setup

"...decided to apply for a Tesco loan - and did it all over the internet. I basically filled in all my details (names, address, work info, etc) and pressed submit! It then gave you confirmation that an advisor will be in contact with a decision. I was very shocked that within an hour, I had a call from Tesco confirming my loan - initially. This is where the process slowed down. They wanted me to send them six months pay slips and bank statements. I sent ..." Read review
16.04.2002

Ciao members have rated this review on average: helpful

Nothing to complain about

AdvantagesVery competitive rates, deferment options, early repayment or extra payments possible

Disadvantages1 Week turn-around so not a QUICK PAY option (still fast enough IMO)

"...next day - Tuesday). I phone Tesco Wednesday to check on the progress of the application and a very friendly advisor explained that the underwriters can take up to 2 full working days to make the decision and once they have been given the go-ahead, the transfer will take only 2 hours. Thursday lunch time I had the money in my bank. A 1 week turn around is really not bad in my opinion and their customer service was top notch. For anyone needing money ..." Read review
13.09.2013

Ciao members have rated this review on average: helpful

Community Level 1Kingsland

Kingsland

Tesco Loan - slow process

Advantageseasy phone application, friendly staff

Disadvantagesslow postal service

"...a home improvement loan with Tesco Personal Finance. I gave all my details over the phone i.e incomings and outgoings and was given a yes in principle at a good rate after they had checked my credit file and credit score. Then the waiting started .... It took a week for the paperwork to arrive, I was expecting a first class service. I had to send in original payslips and three months bank statements along with the credit agreement. I paid for ..." Read review
03.06.2001

Ciao members have rated this review on average: helpful

Community Level 1nkyher

nkyher

Tesco Loan

Advantagesapply online

Disadvantagesweren't up front about the loan we were been offered

"... I am very disappointed with tesco as they put us through a lot of needless inconvieniance and stress. Needless to say we didn't apply! ..." Read review
08.07.2008

Ciao members have rated this review on average: helpful

Community Level 3sharondyer

sharondyer

Lets Go Tesco

AdvantagesExcellent APR rates

DisadvantagesNone so far

"...APR of approximately 11.9% and Tesco came straight in at 9.6%. Now bearing in mind that I occasionally shop at Tesco, have bought online a couple of times etc against having a Mortgage, Savings account, Home Insurance, Previously had a home improvement loan and a Car Loan without any hassle at all they still couldn't offer me a better rate. I ask myself why use high street banks at all if there are no great benefits!! Tesco worked on the loan application ..." Read review
15.05.2001

Ciao members have rated this review on average: helpful

Community Level 1redlarks

redlarks

use the bank not a glorified fruit and veg shop

Advantageswell known company with a good history/good rates of interest,offered as a good package to the customergood advertising of product

Disadvantageswhat a waste of time/application form very non explanitory/send you all the paperwork in a couple of weeks and make you feel secure/very slow on decision making

"...led into the trap that tesco where there to help. After filling the maze of questions in on the internet i was accepted in principle,as with many people we all have credit cards and overdrafts which were indicated on the application and all the loan was for re-finance,i eventually had a reply from tesco's 1 week later saying my application was accepted in principle, i recieved credit aggrements and bank mandate and even the date of first repayment, ..." Read review
11.02.2003

Ciao members have rated this review on average: helpful

Community Level 1spikeyman

Quick review of Tesco Personal Finance Loans

"Tesco Personal Finance is absolutely rubbish!! Stay away if you want any access to your money in so called bank. After opening an internet saver account 6 weeks after still no access to our money and customer service is non existent. Beware and be warned, good rates yes but no access. They open an account for you take your money then make it as difficult as possible to access it. Had our money for 6 weeks now ans still we cannot get it after writing to them, speaking to them, when you can get through that is. Stay away, be warned Tesco is useless at customer service in everything they do!
06.01.2009

Ciao members have rated this review on average: helpful

Community Level 1GRANNAGH1

Quick review of Tesco Personal Finance Loans

"APPLIED FOR TESCO LOAN, TWO MONTHS LATER NO LOAN, WAS CONSTANTLY RINGING THEM, THEY KEPT FOBBING ME OFF SAYING IT WILL BE EARLY NEXT WK BLA BLA BLA, IN THE END TOLD THEM TO STICK THERE LOAN AND I WENT WITH ANOTHER COMPANY. THEY PROVIDE A UNPROFESSIONAL,SLOW SERVICE. THEY NEED TO HIRE MORE STAFF OR CLOSE DOWN. WASTE OF TIME
20.08.2008

Ciao members have rated this review on average: helpful

Community Level 1Reema786

Reema786

pleasantly suprised

AdvantagesFast efficient service

Disadvantagesoriginals for bank statement to be sent

"...and advice, i was recommended Tesco loans, and apprehensively tried them, applied online, which was pretty straightforward and easy, was given a call by Tesco confirming my application was agreed in principle, 4 days later received a confirmation pack from them, i signed the forms and sent my most recent bank statement as requested. 3 days later, the money was in my account! Excellent quick service, very friendly helpful staff, and no problems whatsoever, ..." Read review
15.09.2009

Ciao members have rated this review on average: somewhat helpful

Community Level 1iplaysafe

iplaysafe

quick, easy and prompt..

Advantagesquick, easy, prompt service

Disadvantagesnothing i can think about

"I applied for a personal loan online. In contrary to most reviews, the very next day I received a favourable decision in a document. Initially I opted for a longer duration and due to my visa status, TPF offered a better APR compared to their previous quote and reduced the repayment period, which I was quite comfortable with. They wanted to verify my passports to confirm my visa status and I sent them the documents by a next day delivery. Over all ..." Read review
01.07.2009

Ciao members have rated this review on average: somewhat helpful



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