Tesco Loan Fast Facts
Apply Online	Yes
Max Loan amount	£25,000
Min Loan Amount	£3000
Max Repayment Term	10 Years
Min Repayment Term	1 Year
Website Address:	Herewww. tescofinance .com
Phone Number:	Here 0845 600 6768
Min Age:	23

UK Tesco Loans

1. What is Tesco Finance?
Tesco Finance is a leading UK lender that specializes in personal loans, as well as car and home insurance, pet insurance and travel insurance. The company also deals with credit cards and mortgages as well as savings and checking accounts. It is a full service banking institution.

2. How can I save on insurance with Tesco Finance?
If you purchase your car insurance online from Tesco Finance, you will automatically receive £20 in a free gift card. But visiting the insurance section of the site, you will be able to see at a glance what this company can offer you. www.tescofinance.com

3. What kind of reward do Tesco Finance have for its customers?
If you have a loan from Tesco Finance, you are entitled to a payment holiday. This means that you can have a two-month payment free period before you start to make any repayments on the loan. It is available at the start of the loan, so that in essence you have three months because the first payment is not deducted from your account until the end of the third month.

4. What are the benefits of getting a loan from Tesco Finance?
Some of the benefits of getting a loan from Tesco Finance include:

• Low APR% at 6.3 %
• Two-month payment holiday
• Borrow from £3,000 to £25,000
• No set up fees
• Fixed interest loans

5. What happens at Tesco Finance when I apply for a loan?
When you apply for a loan, the loan officer will check your credit rating. If there are any questions, he/she will call you and ask for more information. When you loan is approved, you will also get a phone call and the officer will send you the papers to sign. Once you return the documents to the office the loan will be processed and the money deposited into your account.

6. Can I change my mind after I apply for a Tesco Finance Loan?
Yes you certainly can change your mind. However, you have to do so before the money is deposited into your account. Once this happens then Tesco Finance looks upon it as a loan and when you repay the money, you also have to pay the interest charges.

7. What is the criteria for getting a credit card from Tesco Finance?
In order to get a credit card from Tesco Finance, you have to meet the following criteria:

• You must be 23 years of age or older
• You must be a resident of the UK, the Isle of Man or the Channel Islands
• You must have a good credit history
• You must be employed earning at least £5000 per year.

8. What discount mortgages does Tesco Finance offer?
You have two discount periods to choose from with a discount mortgage from Tesco Finance – 2 or 3 years. Rates won’t change unless the Bank of England changes its rates and you can switch your existing mortgage to take out a new one. There are no limits on the overpayments and you can borrow up to 95% of the property value.

9. What are the interest rates for the discount mortgages?
The interest rates for the discount mortgages are: 2 year discount

• 4.59% for 2 years
• then 5.60% after that 3 year discount
• 4.76% variable rate for 3 years
• 5.60% variable rate after that

10. What happens if I pay my discount mortgage off before the discount term?
If you pay your discount mortgage off before the discount term is up, you will be subject to early payment penalties. This is because Tesco Finance is reducing the amount of interest that it makes from your mortgage and when you pay the loan off early, it loses money.

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