Tesco loans offer one of the most competitive rates available – 6.8% APR at the time of writing – and the no-nonsense site makes it easy to see how much you'll save compared to other banks. Unlike other banks, Tesco loans positively encourage you to apply online: the lowest APR is for online customers only.
About Tesco Loans
Gettting a loan from the same place you buy your groceries isn't as daft as it sounds: Tesco loans offer one of the lowest interest rates we've seen, with online customers getting an APR of 6.8%. That's a pretty big saving if you're borrowing a reasonable sum of cash: for a loan worth £7,500 you'll pay back almost £1,000 more with banks whose APR hovers around the ten percent mark.
The Tesco loans site is friendly and simple to use, and you can apply online – in fact, you'd be daft not to as the bargain APR is only for online customers borrowing more than £7,000 over a five year period. You can borrow from £2,000 to £25,000, and payment protection is available as an additional option.
The site is exceptionally easy to use and gives you key information without overwhelming you or making you wade through pages of small print, which means the application process is relatively painless. And because Tesco loans are backed by the Royal Bank of Scotland, you can be confident that you're dealing with a reliable firm.
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