Probably you don’t know what Tesco is but you definitely have heard this word. Tesco is Britain’s biggest supermarket group and it offers loans. Loans are part of a range of products offered by Tesco Personal Finance.
The size of Tesco loan you can count on is £3,000-£25,000. A Tesco Loan can be used for anything, from consolidating existing debt to paying for home improvements and you can repay them within the period of 12 months – 10 years.
That is pricing policy what Tesco loans operate on. So the quoted typical interest rate of 6.9% APR will be offered to a most of people who apply for Tesco loans. They can afford to offer a lower APR, because their risk is spread out over many different loans.
The rate of interest offered by Tesco loans may also vary depending on how much you wish to borrow and over what period you intend to repay your loan. Tesco Personal Finance has a set of interest rate bands and the advertised rate is that for a loan of £7,500 over five years. Tesco loans are also available with optional payment protection.
It is important to shop around before deciding on a loan to make sure you are getting a competitive deal.
What can you do with a Tesco loan?
- borrow from £3,000 up to £25,000.
- pay no set up fees.
- transfer balances from other cards and loans too.
- use fixed interest rates so your repayments will never change.
- pay your loan back on the day of your choice and over a timescale that suits you.
Tesco is a provider that won award. You can apply for a loan online, it will not take up much time.
