Although Egg loans are not currently available you may be able to find another lender who suits your needs when looking for a loan here are some features you may want to think about:
- Fixed rate of interest
- Low APR
- An instant decision online
- No early repayment fees
- Flexible repayment terms
Types of Loan
Also known as unsecured loans are a type of loan that typically allows you to borrow up to £25,000 over a variable time period. Generally speaking the larger amount you wish to borrow the lower the rate of interest, however this does not mean you should take out a larger loan you cannot afford to service or repay.
Lenders will advertise their personal loans with a Representative APR however this is not the amount you are guaranteed to get from taking out a loan with them, your actual interest rate will be dependent on numerous factors such as how much you earn and your credit history, they will also take this into consideration when they evaluate how much they are actually willing to lend you.
If you want to borrow a larger amount of money and are a homeowner a homeowner loan might be better for you. As you have placed an asset (such as your home or other property) as security banks are willing to lend more, usually up to £250,000, however the specific amount any homeowner can borrow will be dependent on an assessment of their financial circumstances and a valuation of the property, or equity if they have a mortgage.
Before you apply for a loan
As with other financial products like current accounts and credit cards interest rates on loans and other terms and conditions vary hugely between the different plans and lenders. The best option for you is not necessarily the best option for everyone. Therefore shopping around to find the right loan for you is really important, you could use the above comparison tables to look at some of possible options.
You may also wish to consider alternatives to borrowing.