I have an Egg credit card and I was really happy with the service that I received from them. I had received an email about personal loans and I was previously with HSBC and certain that I was paying too much interest so I decided to shop around.
My criteria was to find an unsecured loan ... Read review
Advantages: Quick, easy, excellent customer service Disadvantages: none
I have an Egg credit card and I was really happy with the service that I received from them. I had received an email about personal loans and I was previously with HSBC and certain that I was paying too much interest so I decided to shop around.
My criteria was to find an unsecured loan with as low an interest rate as possible, flexible monthly payments and good service. I first looked at Cahoot, but the on line application form wasn't ... ...Plus if you have an Egg credit card you don't need to submit as many details because they already have them. Once you have filled in your details you provide a contact number and someone from Egg underwriting will call you back with the decision.
If you need to know straight away you can call 08456 000 291 and they will tell you there and then.
I applied on line and within 24 hours a very helpful Egg representative called ... more
I have an Egg credit card and I was really happy with the service that I received from them. I had received an email about personal loans and I was previously with HSBC and certain that I was paying too much interest so I decided to shop around.
My criteria was to find an unsecured loan with as low an interest rate as possible, flexible monthly payments and good service. I first looked at Cahoot, but the on line application form wasn't working so I turned to Egg, and I'm glad I did.
Applying -----------
You can apply on line, which is quick, easy and relatively painless. Plus if you have an Egg credit card you don't need to submit as many details because they already have them. Once you have filled in your details you provide a contact number and someone from Egg underwriting will call you back with the decision.
If you need to know straight away you can call 08456 000 291 and they will tell you there and then.
I applied on line and within 24 hours a very helpful Egg representative called me back with the answer I wanted to here - Yes you can have all that money! Yippee. I was advised that the paper work would be sent out that day and for me to sign and return one copy of the documents and then all that lovely money would be transferred into my account.
Before I received the paperwork I decided that I wanted to borrow more money to buy a car. This wasn't a problem, my case was simply re-underwritten for the new loan amount. My new paperwork was then sent out for me to sign and return as before.
The applying process is very simple and streamlined. It takes less than a week from you applying to receiving the paperwork. I was extremely impressed with the swiftness of service and the professional and friendly staff.
Why choose Egg -----------------------
Apart from the application process being a doddle, Egg have got many other features that make them an excellent choice for someone looking for a loan.
- The APR on my loan is 6.9% which is very competitive, but at the moment the offer they are doing is 7.9%.
- The APR is fixed - this means that during the term of your loan the rate will never increase. This is really good, especially with the Bank of England increasing the base rate quite frequently at the moment.
- The website has some really good tools if you are just trying to get a rough idea of a monthly payment for the amount you want to borrow. It also offers a guide that works the other way in that you type in how much you want to pay per month on the loan amount you require and it tells you how long the term needs to be. There is also Egg Money Manager, which is a fantastic idea - you list all your accounts with everyone you hold and you can just click on the link that takes you straight to them with no need to sign in and log on again.
- You can protect your loan by adding payment protection. This is your decision and you are not forced to take it. Obviously the reps do try to push for a sale as a lot of commission is made on these products, but if you think it is of value to you it can be added as an extra but will bump up the monthly payments somewhat.
- Flexibility. This is the best thing about the Egg loan for me. I have found that with other loans you can only pay the set monthly payment and if you decide that you want to pay extra you get charged for doing so and it never works out worth while. With Egg you can pay as much as you want each month as long as you pay the minimum. After I had been conducting my loan for 3 months I received a letter from Egg reminding me of the benefits of this service, and that because I had been a good customer I was allowed to take certain 'payment holidays' and that I was also allowed to overpay.
Why Egg may not be right for you ---------------------------------------------
To be honest I am struggling with this section, but in order to provide a balanced review I am sure that this company may not suit everyone...but the only thing I can come up with is people who do not feel comfortable or confident in dealing with their finances online. And so it would also not really be suitable for someone who didn't have access to the internet as they would miss out on many of the great features provided by Egg such as the Money Manager and online statements.
My Conclusion --------------------
In my opinion it seems that Egg loans have taken the best bits from a credit card and combined it with lower interest rates and an innovative support network that makes them one of the best personal loan companies around. I can remember applying for my first ever loan and how it took so long for the cheque to arrive. Egg have streamlined this process to make it as efficient as possible without losing sight of what is important - the customer. You can really tell that Egg cares about it's customers because they are always coming up with new ways to help you manage your money and control your accounts in an easier way. I think this is what makes them stand out, especially in a market place where companies prey on people that are in a financial mess.
Advantages: Easy to apply, competitive interest rate, excellent customer service staff, loan can be checked online, payment breaks, ability to pay loan off early Disadvantages: None
...operations of Prudential. Since then Egg has since grown into the largest online banking company.
I found Egg after doing a number of online loan applications that were long and frankly arduous that ultimately lead to me being contacted by telephone at some point in the proceedings. The main criteria that formed the basis of my selection were:
A low interest rate.
The flexibility to pay the loan off early.
The option of payment breaks
Easy to ... ...out payment protection.
Basically Egg ticked all the right boxes in my case and after drawing a number of comparisons between the AA, Lloyds TSB, HSBC and Abbey National I decided to go ahead a use Egg for the £15,000 unsecured personal loan over a 3 year period. Egg can be found at www.egg.com and as they don't have any branches, the website is completely user friendly, with everything set out in plain English so that the user is not overwhelmed ...
toxicreviewer 04.05.2006
· Read full review
Ciao members have rated this review on average: very helpful Review of Egg Loans
Advantages: Simple application process. Very flexible personal finance. Low APR Disadvantages: Telesales staff very pushy with the payment protection sales.
...lost my business straight away. Egg was looking good already!
The Egg folk offer a number of personal finance solutions, such as current accounts, credit cards, ISAs, mortgages and loans. For the lowdown visit egg.com. The loans page was located easily. I already knew what I needed to borrow, and what I wanted to pay back each month. The loan calculator on the site told me that I could borrow my cash, and pay it off at a rate that suited me. Everything ... ...benefits of egg are as follows.
Low interest rates – My loan of £7000 is 10.7%APR. You will pay different APR’s depending on your borrowed amount. To compare – I was quoted 11.9% APR by my bank, and over 12.0% by the place I’m buying my car from.
Interest rates won’t go up, buy may actually come down and benefit you, as interest on your debt is calculated daily.
Choose to pay off more per month when you can afford ...
alflavor 22.09.2001
· Read full review
Ciao members have rated this review on average: very helpful Review of Egg Loans
...loan I can thoroughly recommend Egg as your lender. my colleague just signed up with them to borrow a small sum and I have, as always been thoroughly impressed with both the product and the service. ~~~~ Calculator ~~~~ Before applying for a loan visit the Egg website and head on over to the Loans section. Here you will find a loan calculator to help you decide how much you wish to borrow and over what period. The calculator allows you to enter how ... ...Rates ~~~ At present Egg are offering the following rates for loans. £1000 to £2499 @ 16.5% APR £2500 to £4999 @ 14.5% APR £5000 to £9999 @ 10.7% APR £10000 to £15000 @ 9.9% APR These are very competitive rates, using Moneyextra.com I did a comparison for the amount he wished to borrow and only 2 lenders offered better interest rates. He chose to go with Egg as they offer more flexibility. ~~~~ Optional loan payment protection ~~~~ Whenever you take ...
KathrynE 13.03.2001 (16.07.2001)
· Read full review
Ciao members have rated this review on average: very helpful Review of Egg Loans
Advantages: Fair, Interest calculated daily, simple, friendly, features, online Disadvantages: Have to call in to service the loan
I love being an Egg customer and use a variety of their products including the Egg Card, Egg Money, Savings, Loan and Egg Money Manager. As with most Egg products, their loan is excellent. Taking out a loan is a long term commitment and the Egg loan offers some very important features that could save you a lot of money in the long run.
The big plus for me is the fact that Egg charges the interest on a daily basis. This means if you pay the loan ... ...number of features on the Egg Loan which make it worth considering. Over payments:
You can over pay on your loan at any point. You can do this by sending in a cheque or by sending a BACs. The interest is calculate daily which means that when your balance reduces, so does the amount of interest being charged.
Payment Breaks:
You can take up to three months payment break in any twelve month period. This is ideal if you need a bit of extra cash at ...
spoonstar 25.10.2006
· Read full review
Ciao members have rated this review on average: very helpful Review of Egg Loans
Advantages: No hassles, easy to understand documentation Disadvantages: can't think of one!
...to share my experiences of Egg Loans with you. To start, go to www.egg.co.uk and choose the personal loans section. The registration process is comprehensive (takes about 15 minutes all up) but you have the option to continue later if you don't have much time. Once you have submitted the form, they tell you that you will hear in 2 days and I heard in exactly that. Much to my relief, they accepted my application with an APR of 11.5%. Now, I should ... ...APRs are so high!). Egg appealed foremost as you can take breaks in repayments, there are no penalties for early repayment and you can save interest in making over-repayments. They offer loans from £1,000 to £15,000. The Egg Loan has also won the Money Facts gold award for the most flexible unsecured loan.
Once they approved my loan, the paperwork arrived 2 days later. I signed the form and chose how and when I wished the payment to arrive - either ...
loz_christie 19.09.2001
· Read full review
Ciao members have rated this review on average: very helpful Review of Egg Loans
Promptness of service
Efficiency of service
Competitiveness of char...
Similar reviews »
Reviews which might be of interest for "Egg Loans"
I couldn't be happier with the service I have received from Egg. Their credit card was the first of their products I applied for - I have since got an Eggloan (very quick and easy, excellent interest rate, excellent terms) and an internet only Egg savings account. The credit card has a very low interest rate (10.9%) and fantastic monthly pay back terms. I can make a minimum payment, pay off the full balance, or pay any other amount I choose - I just log onto their site, access my account and select the option. The log on process take a few minutes cos they ask for quite a few details but it just makes me feel that their security is very good. There's a cashback incentive: 2% cash back with online transactions at Egg Shop, 1% cash back on any other purchases, which is credited to your account once a year. Online, you can check your ...
AliB 07.08.2000
· Read full review
Ciao members have rated this review on average: very helpful Review of Egg Card
Advantages: Good interest rates Disadvantages: Bad customer service and no statements
up stating that I never asked for protection.
They claimed it is automatically provided unless the customer states otherwise so If you have an Egg Card and you dont check your statements much, Have a look!
I cancelled my immediately.
They do offer a good online setup if you can remember your password and also offer much more than just a credit card. They offer Egg Savings and EggLoans to people all online. Much easier than going into the bank. However, I have found them not very reliable when you need some human contact.
Their long Term APR is much better than many high street bank credit cards but there are still better options available. Check out Tesco if you want a good deal. ...
romybuzzer 23.07.2002
· Read full review
Ciao members have rated this review on average: very helpful Review of Egg Card
Advantages: Easy to apply On-line Disadvantages: High interest rate,
to sell you things you don?t want. However the main disadvantage with Barclays is that they charge a high interest rate on the loan and this usually offsets any advantages. My advice if you want an easy to apply loan is to apply for an eggloan which has a similar procedure and charges a much lower interest rate.
This facility is also available only to those who already have a Barlcays current account and are already registered to use on-line banking. For cutomers of other banks this would be a real hassle and sticking to your own bank would be best.
Following a members comment i add the a comparison
Barclays charges on avarage around 14% APR
EGG provideds loans for 9.9% APR (around 7.5% for eggcard holder for loans above £10,000) ...
