Piggy Bank was launched in 2012 with the aim of producing the best financial product in the world for borrowers. It is a provider of instalment loans that help residents of the United Kingdom to overcome short-term financial burdens. They offer small loans which should be paid back quickly. Their application process is fast and easy.

The company accepts customers that have less than perfect credit history, however, it will complete credit checks and take into account your personal circumstances and whether they believe you are capable to pay the loan back. The clients of the company can be sure of fair and reliable service as it is authorized by the Financial Conduct Authority.

Types of Loans

  1. Payday Loans – Loans that can be paid back in one payment.

If you encountered an unforeseen expense such as a broken washing machine, car repairs, or need an emergency loan, a Piggy Bank payday loan is best as a short-term cash solution.

With the payday loan from Piggy Bank, you can borrow between £100 and £400, over a period of up to 35 days. If you need a little more, you can borrow a maximum of £1000 with an instalment loan over a longer repayment period.


  1. Instalment Loans – Loan that can be repaid up to a period of five months.

Piggy Bank instalment loans are best for emergency expenses. With this type of loan, you can borrow amounts that range between £150 and £1000. Returning customers can borrow a maximum of £1500. You can take out a loan over a period of 2 to 5 months which you can repay weekly, fortnightly, or monthly, depending on your pay-date.

Loan Amount and Charges

Piggy Bank offers short-term and payday loans that range from £100 to £750 for new customers.  However, returning customers could be eligible to borrow as much as £1,500. The repayment period range between seven days and five months.

You must take note that the shorter the loan repayment period, the less money that you need to pay out in interest charges. For example, a typical interest charge for a 30 day loan of £250 will be £60. The loan would have an interest rate of 292 percent. The representative APR of Piggy Bank is is 1270 percent which works out as 0.8 percent per day.

Eligibility Requirements

To be eligible to apply for a loan with Piggy Bank, you must meet the following criteria:

  1. A mobile phone – You must have an active mobile phone so that they can send you your mobile pin which you must enter into the system.
  2. A citizen of the United Kingdom – You must live and work in the United Kingdom to be eligible for a Piggy Bank loan.
  3. Be at least 18 years old.
  4. You must be employed – You must have a job that requires you to work more than 16 hours per
  5. A bank account – Piggy Bank will deposit the loan directly into your bank account and use your debit card information to collect payments.


Application Process

The process of applying and being approved for a loan with Piggy Bank can be carried out 100 percent over the Internet and takes only a few minutes to complete. This means that the customers would not have to go in to their offices in person or wait in line.

Interested applicants are required to submit an online application that includes basic information about his or her address and employment situation. Once the loan is approved, the loan funds can be deposited into the account of the applicant immediately within only an hour.

Piggy Bank Account

When you apply for a loan with Piggy Bank, they will setup an online account for you. The online account gives you access to all the information you entered during your application.

It is convenient and easy to use which will help you with account changes you want to make like updating your bank information, checking your loan statement, and making partial payments.

Repayment Process

Customers will be contacted to be reminded regarding the date of their repayment. The company encourages its customers to pay back their loans early so that they can pay less in interest.

Repaying an instalment loan from Piggy Bank is as easy as receiving the loan funds. The clients can make payments using their bank accounts by either calling in to talk to someone over the phone or by taking care of their payments online via their website.

Your Piggy Bank loan can be managed online. They offer a number of repayment options such as choosing the frequency of which you make your repayments. All other options can be controlled through your PiggyBank online account.


Why Choose Piggy Bank?

  1. Piggy Bank is ever evolving in its ideas, practices, and features. They claim to be committed to ensuring that their customers have the most responsible, comfortable, and transparent repayment journey.
  2. Convenient Way of Borrowing. Piggy Bank allows their customers to be in control of their loan. You have the option to choose the amount you wish to borrow and the dates you want to repay. There are absolutely no hidden costs. You will have the ability to log into your online account to check and edit any information you want.
  3. Loan application is easy as 123. Piggy Bank likes to keep things simple. To apply for a loan, there will only be a short simple online application with no added frills. Once you have filled it in, they will take it from there and make sure the loan is affordable.
  4. At Piggy Bank, they pride themselves on being a responsible lender. By this, they mean that they only lend to people who can actually afford to repay their loan without putting themselves in any financial difficulty. If their affordability checks suggest that a borrower may have a hard time to repay their loan, they will not lend to them.
  5. Piggy Bank is built to work at any time on any device. Their processes are conducted all online, so there is no need for any paperwork. Payments can also be made at any time via your online account.
  6. Transparent. Piggy Bank allows you to be in control of your loan. You will have the option to choose the amount you want to borrow and the dates you want to repay with no hidden charges.


Frequently Asked Questions

  1. Can I Borrow From Piggy Bank More Than Once?

Answer: Yes, you can apply for another loan with Piggy Bank but only as soon as you have paid back your existing loan. It is important to remember that a Piggy Bank loan is intended as a short term solution, and if you are experiencing long term financial difficulty, taking out more loans is not really a good idea.

If you are planning to take out another loan with Piggy Bank, you must note that your new application would be subject to all their usual checks and procedures because the company wants to ensure that they are lending responsibly, and doing what is best for their customers.


  1. What Type of Credit Checks Do You Carry Out?

Answer: They conduct identity and credit checks whenever someone applies for a loan with them. You must take not that your credit file is not the only thing that their underwriters check whenever they are making a loan decision. They also take things such as your income and expenditure into consideration.


  1. Can I Still Get a Piggy Bank Loan Even With a Bad Credit History?

Answer: Piggy Bank understands that nobody’s credit file is perfect and they look at every application on an individual basis. You may be eligible for a loan with Piggy Bank even if you have a fairly low credit score – the most important thing is that they are lending responsibly. If you cannot afford a Piggy Bank loan, they would not lend to you.

Piggy Bank will look at your recent history when it comes to credit checks – your current income and expenditure are considered to be more relevant than a late payment that you might have made years ago. They do a full credit check, but they also assess your affordability.

You must take note that 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 Piggy Bank.


  1. Can I Still Get a Piggy Bank Loan Even With a Bad Credit History?

Answer: This is not something that they offer at the moment. If you have not finished your application, you can always cancel the application and start again (all your information should still be there), however, they do not offer top-ups.

It is important to think carefully about the amount that you need to borrow, and make sure that you will be able to repay it before applying.


  1. Can I Change My Piggy Bank Username?

Answer: You can change your username at any time. You simply need to log into your Piggy Bank account, select ‘change username’ from the ‘manage my details’ dropdown, and follow the onscreen instructions.


  1. How Do I Change My Account Password?

Answer: If you can still remember your current password, but you wish to change it, you can do so at any time. Login to your online account, select ‘manage my details’ and then choose the ‘change password option.

If you are unable to recall your password, and you can’t log in, go to the login page and click on ‘I’ve forgotten my password.’ An email will be sent to you with the instructions to help you reset your password.


  1. How Do I Change My Bank Details?

Answer: If you have a new bank account and you want to change these details, login to your online account, select ‘manage my details’ and then select ‘payment details.’

If you have received a new debit card, you do not need to change your bank details as these should remain the same. To delete your bank details, you must get in touch with Piggy Bank.


  1. How Do I Change My Debit Card Details?

Answer: Once you have already logged into your account, you can add new card information by clicking on the ‘payment details’ option from the ‘manage my details’ dropdown. The new card will become your primary card and they will collect your agreed repayment from this debit card.

If your repayment does not come through, they will try to collect it from your secondary card.

Third Party Reviews

On Trustpilot, 174 out of 246 rated Piggy Bank as Excellent while only 36 rated it as bad.

For more reviews regarding this lender, you can check out:


Social Media Accounts

To check its latest updates, you can go to their official social media pages:

Facebook: https://www.facebook.com/piggybankloans/

Youtube: https://www.youtube.com/channel/UCRCyCD7EL50Az3YdJOFbmeg

Twitter: https://twitter.com/PiggyBankLoans

Instagram: https://instagram.com/PiggyBankLoans

Company Details
  • Company Name: DJS (UK) LIMITED
  • Registration Number: 07952979
  • Incorporation Date: 2012-02-16
  • Status: Administration
Loan Details
  • APR 1270% Representative
  • Loan Amount £100 - £1,000
  • Repayment Duration 1 - 5 Months
Contact Piggy Bank
  • via Phone: 0800 2061 560 Call
  • via Email:[email protected] Email
  • via Post: Fortus Recovery Limited Grove House, Meridians Cross, Ocean Village, Southampton, SO14 3TJ