Tesco Bank Loan

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  • Goochy99's Avatar
    Fresh Eyes
    So I applied for a loan online and was instantly approved. It came back with the option to “continue with loan” or “save loan for later”. As I was about to click “continue with loan”, I received a telephone call, and when I went back to the page it had timed out. This wasn’t an issue, so I called up and explained the issue. The gentleman processed the loan for me, and said I’d receive the paperwork in the post. I have sent all the paperwork off but because I technically applied for the loan “over the phone”, I am assuming I will wait longer to receive the money. Not realising this until after the fact, I have put a deposit down on the used car I applied for the loan to purchase. I only have 7 days to pay the remainder before I lose the deposit on the car. Does anyone know how long it usually takes to receive payout for a loan “over the phone”, as I thought it was 48 hours with me originally applying online. Appreciate anyone who can get back to me, cheers!
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  • ChristopherP's Avatar
    Your Community Expert
    @Goochy99 Hey there, thanks for getting in touch.

    If we've sent you your credit agreement in the post to sign and send back, this will arrive within 3-5 working days. Once you've returned your signed credit agreement to us, we'll be able to send your funds to you after we've run some final checks.

    I hope this clarifies things for you.

    If you need to ask a question about a Tesco Bank product, you can make a post in Help & Support here

    Also, feel free to Introduce Yourself!
  • Goochy99's Avatar
    Fresh Eyes
    I sent the signed credit agreement back on Thursday 18th April. Do you have any indication on if the checks will be completed by Saturday 27th, just as that is the final day I have to pay the remainder of cost owed to the vehicle garage. Cheers for the prompt reply as well, massively appreciated.