Tesco Bank (Tescobank.com) has a range of loans designed to help its customers in a variety of ways. Many people take out personal loans to cover a major purchase or a big life event, but loans can also be used to help manage your debt.
Many people in the UK currently struggle with debt. The rates of household debt have increased dramatically, leaving many people unsure of how to manage their outstanding debts without facing bankruptcy. Debt can lead to high levels of stress and financial uncertainty, but there are solutions that can help make debt more manageable. Talking to a debt adviser or financial expert should be your first step in any decision you make, as they can help you find the best possible course of action for your particular financial circumstances.
A debt consolidation loan is a loan taken out to pay off outstanding debts, consolidating the amount into one, hopefully more affordable loan. A personal loan from Tesco Bank often comes with a lower interest rate than outstanding credit repayments, allowing you to cut your monthly repayment costs and spread the payments out over a certain period of time.
Tesco Bank debt consolidation loans come with a fixed rate that won’t change over the life of the loan, so you’ll be left with a predictable monthly repayment that you can budget for. You can also apply for a two month repayment break at the beginning of the loan, giving you some temporary breathing space from your debt.
Debt consolidation loans from Tesco Bank are available to UK residents over the age of 18 who are in fixed employment. The rate you’ll receive will depend on the amount you need to borrow and your personal circumstances. You can apply for a Tesco Bank loan online for an immediate decision.
