Short term loans are designed to help you out if you’re in a fix and need access to cash in an emergency. They should never be used as a means for long-term financial assistance, more to help in some of the following scenarios:
- To fix a broken fridge, washing machine etc. in the home
- To pay for the cost of repairing a car
- To cover the cost of emergency medical or dental treatment
- Pay for unexpected bills that come out of nowhere
Not sure if you qualify? You can find more information on our eligibility page.
Benefits of a Short Term Loan
There are a number of benefits to taking out a short term loan with PiggyBank:
Improve Your Credit Score - If you have bad credit, we have options for you if you can show you are capable of paying it back. Paying short term loans back on time and in full will help you rebuild your credit score with a view to future applications for loans, mortgages and hire purchases.
Fast Access to Cash – When you need it most we'll have an answer for you quickly. Our 100% online application process is simple to complete and if successful we aim to have the funds transferred directly into your bank account within an hour.
Short Repayment Period – No one wants to owe money for a long time. A short term loan from PiggyBank is one which you know you can pay back quickly and easily. There are multiple repayment options available and no fees for paying off your loan early.
The PiggyBank Application Process
It is easy to get started - you can use the application form sliders to work out how much you want to borrow, when you want to pay it back and you can see the interest on the loan amount. Once we have taken a few details from you, we will perform a credit and affordability assessment to see if you are suitable to be accepted for a loan from us. For more information on our application process, take a look at our application help area.
Our short term loans are:
- Typically between £100 and £1,000 lasting
- Between 7 days to 5 months
Once you have been approved you can expect to receive the funds directly into your bank account within one hour. You will always be shown clear details of how much you are expected to pay back and when the payment is due.
As a responsible and transparent lender, PiggyBank will never take advantage of those who are not in a position to pay back a short term loan. Our online loan calculator provides you with a full breakdown of your loan, including how much you’ll pay and when you’ll need to pay it. PiggyBank are committed to making the repayment journey as easy as possible. Have any questions? Get in touch.