Piggy Bank Review

Company Name: Piggy Bank (piggy-bank.co.uk)

Trading name of: DJS (UK) Limited

Registration Number: 07952979
Credit Licence Number: 660382

Representative APR: 1,270%

Maximum Loan Amount: £1,000

Loan Term: 7 days to 5 months

Cost to Borrow £100 for 30 days: £124

Representative Example: Amount of credit £250.00 for 30 daysTotal amount payable £310.00. Interest rate 292% (fixed). Interest £60.00 . Representative 1270%APR

Hidden Fees: None (no application fee, no processing fee)

Promo Code: No

Contact: help@piggy-bank.co.uk /  0800 206 1560
About: Launched in 2012, PiggyBank offers short term and installment loans of £100 and up to £1,000 for a term of 7 days to 5 months.

  • Terms and amounts

They offer loans of up to £1,000 only if you borrow for 5 months. For a term of 7 days, you could borrow £100 to £400 ; for a term of 2 months, up to £500 ; for a term of 3 months, up to £600 ; 4 months, up to £800 ; and 5 months up to £1,000.

However, as a new client, you can borrow up to £500.

The cost of borrowing is pretty much standard nowadays: £100 for 30 days will cost you £124.

  • Application process

The application process is 100% online, accessible via any computer or a mobile device. Subject to credit and affordability checks - you do not need a perfect credit history to be eligible - you will know whether you are accepted very quickly.

If your application is successful, the money should be with you within an hour.

  • Repayment
You can repay your loan earlier online at anytime via your account. There are no penalties nor additional fees for paying your loan early. For example, if you borrow £350 for 30 dasy and pay back 10 days before the term, you could save £28.

  • Eligibility
To be eligible, you need to be a UK citizen, be at least 18 years old, be employed (work at least 16 hours a week), own a bank account. Also, you won't be eligible if you had a CCJ in the past 12 months, have declared bankrupt or are on a debt management plan.

  • Reviews

Reviews on Feefo show are 88% positive out of from around 200 reviews. 73.1% gave PiggyBank an 'excellent' rating.

The company was also rated as one of the top rated brands in the best short term loan provider category in the consumer credit awards.

 You can share your experience and leave your own review of Piggy Bank in the comments below

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