#Apply #for #small #personal #loan
Apply for small personal loan
- We have a range of different loan amounts and terms available – use our loan calculator to work out your repayments and what is best for you.
- An instant decision when you apply online
- Our lowest rate of 3.0%APR representative is available on loans from £7,500 – £25,000 over 1-5 years
- Eligible customers can apply for a two month payment break Terms apply
- Fixed monthly payments on your chosen date
- Pay more whenever you want so you can pay off your loan quicker – early settlement charges apply Learn more
Already have a Tesco Bank Loan?
If you’re thinking about borrowing more, we’re here to help.
How a personal loan can help?
Buying a car
How our loans work
About our loans
We offer unsecured personal loans
Available repayment periods
Borrow exactly what you need
How interest is charged
At the beginning of the loan we work out the interest you will pay over the whole length of your loan and add this to your loan amount. We calculate your interest charge by applying interest at a monthly rate based on the APR to the balance of your loan, as reduced by your monthly repayments. We add this to the loan amount and then divide this total by the number of monthly repayments.
The loans calculator will give you a representative example based on the loan amount and term you want. However, the interest rate we offer may be higher depending on your individual circumstances. The maximum APR we offer is 29.8%.
Getting your loan
How soon can I get my loan?
Take a payment break
- This break is only available at the start of your loan.
- If your application for this option is successful, then the first payment would be taken the third month after the issue of the loan.
- Interest will be charged during the payment break and your overall loan period will be extended by two months, which means that you will pay an extra two months’ interest.
- Your offer documentation will explain the terms of the payment break, so please read everything carefully.
Your payment is made by monthly direct debit from the account the loan is paid into. Your first payment will be made one month after issue of the loan on the date you have chosen in your application, unless you apply for an initial payment break (see under Payment break tab).
You’ll always know what you have to pay
What happens if a payment is late?
Can I pay my loan back early?