Tesco offers the lowest personal loan rate from a UK bank in a decade

Tesco Bank has reduced its interest rate on personal loans between £7,500 and £15,000 to 5.2% APR representative, offering customers the lowest personal loan rate from a UK bank in a decade*.

Tesco Bank loans are convenient with a straightforward application process that gives the majority of customers an instant decision on their application. The loans have fixed monthly payments and no set-up charges, customers can choose the repayment date as well as having the option to apply for a payment break at the start of the loan (subject to eligibility).

David McCreadie, Managing Director of Banking at Tesco Bank, said: "Tesco Bank is offering the lowest personal loan rate from a UK bank in a decade because we understand that our customers are finding it challenging at the moment and are looking for ways to manage their finances carefully. They are looking for great value without compromising on service and this is the kind of competitive rate they are asking for."

For more information, visit tescobank.com.

* based on Defaqto data, information correct at 21st December 2012.