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Am I Eligible for a PiggyBank Loan?

PiggyBank prides itself on being a responsible short term and instalment lender (view our responsible lending policy) and only lending to applicants that can afford our loans.

There are some people who are unsure of whether or not they qualify for a PiggyBank short term loan.

There are circumstances that could affect your short term loan application:

Your Credit is Bad

PiggyBank Short Term Loans are made for people with different credit histories. We believe that your current circumstances, income, expenditure and credit commitments are more important than a late payment on a credit card three years ago. Therefore we not only conduct a full credit check but assess your affordability. If you can’t afford a PiggyBank loan then we will not let you take one out.

If you are currently on a debt management plan, have been declared bankrupt in the past year or have more than one CCJ, you may not be approved for a short term loan with PiggyBank.

You are not a UK citizen

If you are not a UK citizen, you will not be approved for a PiggyBank loan.

You are under 18

You must be at least 18 years old in order to apply for a short term loan. By borrowing money, you are entering into a legal agreement promising to pay back the funds under the agreed terms. Since minors are unable to enter into a legal agreement, we can’t lend to you.

You are unemployed

As a responsible short term lender, we will not lend to people that are unemployed or don't work at least 16 hours per week.

You don’t have a bank account

We pay out our loans automatically into a borrower’s bank account. Therefore if you don’t have a bank account and a related debit card we are unable to offer you a short term loan.

Why Choose Us?

  • Direct Lender
  • No Payout Fee
  • No Hidden Costs
  • Fast Online Application
  • Multiple Repayment Options
  • 100% UK Based
  • Fully Authorised by the Financial Conduct Authority
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