Finance Choices
Tesco Personal Loan
The Tesco loan is a relatively new player in the personal finance market, but is already a popular choice among consumers. Is this just down to the convenience of borrowing at your local supermarket, or is the Tesco loan a good deal regardless? Read on for Finance Choices independent view of the Tesco loan.
Whatever your personal circumstances, you should be able to find a loan to suit your needs - there is something for everyone in the UK loans market. The Tesco loan might be an excellent choice for you, but it depends on what you want from your loan.
The main selling point of the Tesco loan is a competitive interest rate, or APR. The standard rate is one of the lowest around, but a quick search of the offers available from other companies reveals that it is not quite the cheapest. Also, this is a banded interest rate - the rate advertised is for loans of over 7500. Loans of less than this amount will be subject to a higher rate, so it is certainly worth shopping around if you're thinking of taking out a small loan.
You can apply for a Tesco loan of up to 25,000, although the acceptance of your application will depend on your credit rating. This credit rating can be affected by a number of factors, including non-payment of bills, and County Court Judgements.
One of the benefits that attracts Tesco loan customers is the offer of a 'repayment holiday' at the beginning of your loan term. This means that you will not have to start making your repayments for three months from the day you receive your loan amount. This might seem an attractive prospect, but you will save money by starting to repay your debt straight away - while you're avoiding your repayments, the interest will start mounting up.
All in all, the Tesco loan is not a bad prospect - you could do much worse. But you could also do better, especially if you want to borrow a small amount for a major purchase or to pay off existing debts. Also, it is unlikely that you will be accepted for a Tesco loan if you have had debt problems in the past. Whatever your circumstances, you should shop around before applying for any loan - you never know how much money you could save with a lender you hadn't considered before.
Apply for a Tesco personal loan now
Whatever your personal circumstances, you should be able to find a loan to suit your needs - there is something for everyone in the UK loans market. The Tesco loan might be an excellent choice for you, but it depends on what you want from your loan.
The main selling point of the Tesco loan is a competitive interest rate, or APR. The standard rate is one of the lowest around, but a quick search of the offers available from other companies reveals that it is not quite the cheapest. Also, this is a banded interest rate - the rate advertised is for loans of over 7500. Loans of less than this amount will be subject to a higher rate, so it is certainly worth shopping around if you're thinking of taking out a small loan.
You can apply for a Tesco loan of up to 25,000, although the acceptance of your application will depend on your credit rating. This credit rating can be affected by a number of factors, including non-payment of bills, and County Court Judgements.
One of the benefits that attracts Tesco loan customers is the offer of a 'repayment holiday' at the beginning of your loan term. This means that you will not have to start making your repayments for three months from the day you receive your loan amount. This might seem an attractive prospect, but you will save money by starting to repay your debt straight away - while you're avoiding your repayments, the interest will start mounting up.
All in all, the Tesco loan is not a bad prospect - you could do much worse. But you could also do better, especially if you want to borrow a small amount for a major purchase or to pay off existing debts. Also, it is unlikely that you will be accepted for a Tesco loan if you have had debt problems in the past. Whatever your circumstances, you should shop around before applying for any loan - you never know how much money you could save with a lender you hadn't considered before.
Apply for a Tesco personal loan now
posted by Barbara Gordon at 10:46 AM
Tesco Personal Loan
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