The Bank has also reduced its mortgage rates across its existing mortgage products, including fixed and tracker products for home buyers and remortgages.
Both have a product fee of £1,100 plus a booking fee of £195.
Tesco Clubcard holders are rewarded with Clubcard points as they repay their mortgage, and collect one point for every £4 on their monthly mortgage repayments.
David McCreadie, managing director of banking at Tesco Bank, said: "We are delighted to be extending our mortgage range to offer customers more choice. These products underline Tesco Bank's commitment to offering great value mortgages that have competitive rates and fees, as well as rewarding customer loyalty with Clubcard points."
