Ok, what’s all the fuss about getting a Tesco Loan? What about their insurance as part of the package? Well, obviously they are in a unique position to give some excellent deals, based on the fact that around 1 in 8 of every pound spent on retail in the UK, gets spent with Tesco. But what about a Tesco Loan and getting Insurance? Is that unique market penetration also of benefit to you when you’re choosing your loan and insurance supplier? Well, let’s have a look.

Tesco Insurance offers three main types of insurance; car insurance, van insurance and value car insurance (doesn’t cover windscreens and car radios). They also have one very useful feature which I think is worth checking out, namely you can compare quotes from 35 different suppliers, including Tesco Insurance, on the site. This one feature alone makes the journey over to Tesco Insurance worthwhile. They also offer Home Insurance, Pet Insurance, Travel Insurance and Personal Loans, so it’s worth the trip.

Regarding a Tesco loan, at the time of writing, the key benefits of a Tesco Loan were:

* A great rate of 8.4% APR Typical on loans £7,500 to £14,999.
* Rates are fixed so your monthly repayments will never change
* You choose the repayment date that suits you best
* There are no hidden fees

Another key feature in any car insurance is the no claims bonus. Tesco’s looks quite generous, especially to those over 50 with a good track record. This is what they say on their site:

“It is our way of rewarding safer drivers. The no claims discount applies to policyholders on Tesco Car Insurance policies and it helps you to reduce your car insurance premium.

Policyholders who have earned NCD (no claims discount) in their own right can get up to 65% discount if you are aged under 50, however if you are aged 50 and over you could receive up to 70% if you have 5 claim free years.

As they say, every little helps.

Filed under: Tesco Loan