Are you in search of an unsecured personal loan to consolidate your debt, improve your home, plan for a wedding, or plan for a vacation with your friends and family? No need to panic; you can get unsecured loans from Tesco today. Tesco Bank is a well-known and reliable financial institution with a wide range of services and products ranging from loans, credit cards, savings, insurance, and much more.
Meanwhile, an unsecured loan is a type of loan that doesn’t require you to provide any collateral before you can get access to funds. Instead of relying on a borrower’s assets such as their cars or houses, lenders approve unsecured loans based on a borrower’s creditworthiness.
An example of such an institution that offers unsecured personal loans is Tesco. Borrowers can apply for loans of £1,000 to £35,000 with a term of one to ten years depending on the loan amount and purpose. Applying for Tesco Loans is easy and can be completed online via the company’s official website.
Tesco Loans Overview
Whether you need loans to replace your car, improve your home, consolidate your debts, or plan for your wedding. You can apply for loans in the range of£1,000 to £35,000, which can be used for different purposes. In addition, applying for an unsecured personal loan with Tesco will enable you to achieve your goal.
However, their loan is currently available to UK residents between the ages of 18 and 74 years of age. The company offers an easy and fast application process, which can be done online. And you will immediately be provided with an instant decision.
The available repayment periods range from 12 to 120 months, depending on the loan amount and purpose. This means, your loan term will be determined based on the amount and reasons for applying for the loan.
Borrowers can make additional payments with no extra charges. Enabling them to pay off their loans faster and save up during the process. The company offers a fixed interest rate that lasts throughout the life span of your loan. You can check your interest rate by using the company’s loan calculator to check your rate.
Requirements to Apply for Loans From Tesco Bank
Before you can apply for loans with Tesco Bank, there are certain requirements that you must have. Without these requirements, you might not be able to access loans via the platform. Here are some of the requirements:
- You must fall under the age category of 18 and 74 years.
- Be employed with a regular source of income.
- You must have lived in the UK for at least three years.
- Have a UK personal current account.
Once you are able to meet the above-listed criteria, you can proceed to apply for loans with Tesco Loans. It should be noted that Tesco will carry out a credit check based on the information you have entered. Your credit score will be calculated to help the company make an instant decision.
At the same time, it will let you know your application status. Mind you, joint applications are available, which means you can apply for loans with a friend or a family member, or you can decide to apply alone. You can visit the official website today to apply for loans.
How to Use TescoBank.com Loan Calculator
To know your loan interest rate, you will first need to check your interest by using the Tesco Loan Calculator. Once you visit the official website of the platform, you will find the calculator. Below are steps and guidelines to make use of it;
- Visit the official website of Tesco Loans.
- On the homepage, scroll down and you will find the Loan Calculator tool.
- Select what you would like to use your loan for, e.g., refinancing debt, home improvement, wedding, car, and more.
- Enter the amount you would like to borrow and how long you would like to borrow it.
- On the right corner of the homepage, you will be provided with the result.
You can go through the result and decide if you are comfortable with them. Simply click on Apply below the result page and follow the on-screen instructions to complete your application.
How to Contact the Tesco Customer Team
If you need to make an inquiry about your Tesco Loan, you can contact their customer support team for help. The Tesco Bank UK team is available to you seven days a week between the hours of Monday to Friday, 8 a.m. to 8 p.m., and Saturday to Sunday, 9 a.m. to 5 p.m.
You can reach their loans customer service at 0345-600-6016, 0345-671-0675 if you’re using a textphone, and 18001-0345-600-6016 if you’re using a type talk. If you need to apply for a loan online, you can also call 0345-600-6016. You can also download and install their mobile app and login into your account to make further inquiries about your loan.
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