Tesco Personal Finance has cut the annual percentage rate (APR) on its loans to 6.3 per cent.
The new rate will be available to all customers applying for a loan between £7,500 and £25,000.
A spokesperson for Tesco said: "The loan is fixed, with no arrangement fees or additional charges, and has optional payment protection."
Customers who wish to apply for a loan at the new rate - which is 0.3 per cent lower than before - can do so by calling Tesco Personal Finance or applying online.
Also this week, Tesco announced customers will be able to pick up leaflets on National Savings & Investments (NS&I) Premium Bonds as part of a new in-store pilot scheme.
Customers will be able to pick up the leaflets at the checkouts of 50 Tesco stores across the country.To read more about Personal Loans, click here.
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