Tesco Personal Finance has decided to pull out of the personal loans market in Ireland
Tesco says all existing customers will continue to be serviced by Ulster Bank, and it is assuring customers that they will continue to get the same rate of interest. Anyone who applied for a loan up until last Friday February 6th – will have their loan application processed normally.
Tesco is writing to all its 3,600 personal loan customers to inform them of the change, but customers do not need to do anything.
Tesco had the lowest rates of interest on personal loans since it launched the product in 2004. They say this is temporary, and they expect to be in a position to come back to the personal loan market in the near future. See the Best Personal Loan Rates here
Other financial products – including credit cards, car insurance and life insurance – are still available from Tesco.