Tesco is offering loans from £7,500 at 5.9% APR if you have a Tesco Clubcard. Non Clubcard holders will get a rate of 6.3%. You can borrow up to £35,000 with varying terms (up to 10 years). Loans of £7,500 can only be taken over a maximum five year term.

Borrowers can make overpayments, but full repayment is subject to early repayment charges.

Pros

• Competitive rates
• Can make overpayments
• Two month payment holiday option at the start

Cons

• ERCs apply
• Higher rate if you don’t have a Clubcard

Representative Example

If you borrow £10,000 over 60 months with monthly repayments of £192.15. Total amount repayable will be £11,529. Representative 5.9% APR, annual interest rate (fixed) 5.9% p.a. Credit available subject to status.