WARNING: Late repayment can cause you serious money problems. For help, go to: moneyadviceservice.org.uk

Short Term Loans

The world of short term loans can be a very scary and confusing place. Here at PiggyBank, we know this and we also understand that the last thing you want is to make a serious mistake when it comes to your finances. That’s why when we talk about our loans; we try to keep things as simple as possible.

So here are eight plain and simple facts about our PiggyBank short term loans:

  1. A PiggyBank loan is a short term cash loan that is intended to be used to pay for an unforeseen expense. e.g. a broken washing machine, car repairs etc. If you are considering taking out a loan to pay for something like a holiday or to pay off another debt for example, we would advise you reconsider. Visit www.moneyadviceservice.org.uk for advice on how to save and budget without the need for more credit or www.stepchange.org to get on top of your debts today.
  2. The first time you borrow a short term loan from PiggyBank you can apply for £100 to £1000. This is because we never want to lend more than would be affordable.
  3. Once you’ve had a short term loan and paid it back to us, you may be able to borrow up to £1000 on your next visit.
  4. If you have passed our extensive affordability, credit and bank account verification checks and have been accepted for a PiggyBank short term loan, we’ll aim to have the money in your account within an hour.
  5. You can apply 100% online.
  6. Unlike some other short term lenders, PiggyBank won’t charge you any penalty fees for settling your short term loan early. You are also made aware of all our fees before you sign the loan agreement.
  7. The representative APR of 1270% that we have to display on our homepage is a legal requirement set out by the Financial Conduct Authority (FCA) and the Consumer Credit Act. A lot of people get worried when they see it, but we don’t actually charge our customers 1270% interest! We don’t like confusing, so we’ll try to give you the facts:
    • PiggyBank does NOT charge 1000’s of percent in interest for our short term loans. Our actual interest is actually 0.80% per day. We’re proud to say this makes us one of the most cost effective short term lenders in the market.

Before you take out a PiggyBank short term loan, you need to ask yourself whether borrowing money is the right thing for you. If you can cut down on your spending or put off buying something until you’ve saved for it, do that. If you are borrowing money to make repayments on other loans and debts, you may be in a vicious circle and it might not be the best thing to do. If you think you need help with your debts, you can contact the Step Change Debt Charity service at www.stepchange.org.

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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