Tesco Debt Consolidation Loans

If your debts are starting to build, it could be beneficial to start considering consolidation. There are many different debt consolidation lenders available who will offer the cash you need to cover your existing debt repayment. However, knowing where to start looking for the ideal solution can be daunting, but Debt Consolidation Loans are here to help. Even though we are a consolidation broker service with a large panel of lenders, we believe in offering you as much financial information as possible to help you find the ideal solutions for your needs. On this page, we will be discussing Tesco debt consolidation loans, how their loans work, and their interest rates. That way, you will be able to see whether this is a good option for you.

  • DCL have years of experience in the finance industry
  • Large panel of consolidation loans lenders
  • Personal approach to application reviews
  • Bad credit applications considered
  • Easy online application process
  • FCA authorised, responsible broker service
A couple researches into Tesco debt consolidation loans

With our service, we take the time to personally check each application for affordability, then select one of our trusted lenders as the best solution for you. This means that we do all of the hard work for you, finding and comparing the best deals as quickly as we can. Once we have found the best consolidation solution to suit your requirements, the lender will contact you to finalise your application.

If you are ready to start your application, simply apply online and our team will begin reviewing your affordability to reach a lending decision.

Why debt consolidation?

  • Improve your monthly budget
    A debt consolidation loan will enable you to group all your existing borrowing and the monthly repayments are easier to manage.
  • Reduced overall repayments
    A debt consolidation loan could even save you money each month if the interest rate is less than the combined total interest of the previous loans.
  • Improved credit rating
    The simplicity of repaying a debt consolidation loan means that you are more likely to repay the debt on time every month. This will prove you to be a responsible borrower, which will have a positive effect on your credit score.

 

What Are Tesco Bank Debt Consolidation Loans?

If you have outstanding debts and need a way to pay them off in a potentially easier way, Tesco Bank could help. Ever since the launch in 1997, Tesco have been dedicated to helping more than 5 million people to access financial products when they need them most. Their loans can help you to know upfront how much you will be paying back each month and for how long, and require a single monthly payment, rather than multiple payments to different lenders.

They offer personal loans for debt consolidation, which means you can take out the money you need to consolidate your debts with a repayment term that suits your needs. Whether applying for a personal Tesco Bank debt consolidation loan is the right thing to do depends on your circumstances. It is essential to remember that a loan is an ongoing commitment, so make sure you think about how the repayments will work with your future plans.

Tesco Debt Consolidation Rates & Terms

Tesco Bank offer a low rate of 2.9% APR representative on loans from £7,500 to £15,000 for terms between 12 to 60 months, but they provide loans from £1,000 to £35,000 between 12 months to 7 years. This means that you could get considerable flexibility with a Tesco debt consolidation loan, depending on the number of existing debts you have and your future budget. You can choose the figure that covers your total amount of debts, and a number of months that you would like to repay over.

The Tesco Bank debt consolidation loans are available to UK residents aged 22 and over, subject to status, but they may offer other loans to over 18s. However, we offer our bad credit debt consolidation broker services to people as young as 21 and over, so we may be able to help a wider range of people. Their interest rates also vary depending on the loan amount you choose and personal circumstances, so be sure to use their loan calculator to see if their options work for you before applying.

Why debt consolidation?

  • Improve your monthly budget
    A debt consolidation loan will enable you to group all your existing borrowing and the monthly repayments are easier to manage.
  • Reduced overall repayments
    A debt consolidation loan could even save you money each month if the interest rate is less than the combined total interest of the previous loans.
  • Improved credit rating
    The simplicity of repaying a debt consolidation loan means that you are more likely to repay the debt on time every month. This will prove you to be a responsible borrower, which will have a positive effect on your credit score.

 

How Do You Apply For Tesco Debt Consolidation?

If you want to apply for Tesco debt consolidation, you can easily submit an application through their website after using their calculator. However, this bank uses automated responses to give you an instant lending decision and the opportunity to potentially receive the required cash the next day, as stated on their website. While this may save time and provide you with the money when you need it the most, it might mean that you may not be able to apply if you have bad credit. We take a personal approach when checking applications, which may take a little longer, but it allows us to consider people from a range of circumstances. This means that we may be able to help people with a low credit rating, as well as spot any mistakes on your application that could have possibly prevented your application with an instant decision lender from going forward.

Choose Us For Your Consolidation

If you need help with covering your existing debts, we may be able to help. Whether you need support with credit card consolidation or a debt consolidation remortgage, our panel of lenders offer a range of products to help you pay off your debts. At Debt Consolidation Loans, we make our lending decisions with a personal touch, rather than relying on automated software. We hold our applicants’ best interests at heart, and take a human approach to each application to check for affordability and to understand your needs. We consider all applications from people in all circumstances and will do everything we can to ensure you can make repayments. However, if we felt that you would struggle to make repayments, we would need to decline your application for your own wellbeing.

We are completely transparent, so our soft search will not damage your credit rating and there are no fees for using our service. We also aim to offer flexibility in our repayment plans, so you will be able to make payments on a pre-agreed date each month that works with your budget. This can help you to manage your finances, as well as give you peace of mind.

If you would like any more information, you may find what you’re looking for in our FAQs, or don’t hesitate to contact us to speak to a member of our friendly team. When you are ready, it’s quick and easy to apply on our website.