 | Summary Box - Key Product Information for Egg Loans |
| APR | Typical 13.9% APR
If your application is successful, the interest rate you'll pay will be based on your personal circumstances. As part of the Egg Loan application, we'll show you your guaranteed APR before you commit to applying. |
| Interest rate ranges |
| Loan size range | From | To | Representative APR | | £1,000 - £6,999 | 12.9% | 24.9% | 16.9% | | £7,000 - £25,000 | 9.9% | 21.9% | 13.9% |
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| Interest charging information | Once agreed, the APR is fixed and guaranteed for the life of
your loan. The interest, at the agreed rate, will be calculated on the amount of
loan outstanding each day and debited to your loan account monthly. |
| Repayment information | Monthly payment by Direct Debit
The first instalment is due on the day of the month chosen by you, unless this is less than 30 days from the date that you signed the agreement. In this case, it will be due on the same day the following month.
Lump sum payments can be made at any time at no extra cost.
Monthly Direct Debit amounts can be increased at any time to pay your loan off quicker without charge. |
| Repayment period | You can
choose between 6 and 84 months to repay your loan. You can reduce your term at any time to pay off your loan more quickly. |
| Amount of loan available | Existing Egg Card/Egg Money customers can apply to borrow
between £1,000 and £25,000. |
| Application/ arrangement fee | None. Application and arrangement are both free. |
| Other fees | None.
Egg
Card/Egg Money customers automatically receive their funds the next working day after they've been accepted for a loan at no extra cost. |
| Default fee | If you miss a
payment you will be charged £12.
If your payment is late you will be charged
£12.
We will not charge you interest on these fees. |
| Early settlement | No early
settlement fee is charged. You can make a lump sum payment or pay your whole loan off early at no extra cost. |
| Illustrative example | | Loan amount | Representative
APR | Term | Monthly
repayment | Total repayable | | £3,000 | 16.9% | 36 months | £105.10 | £3,783.60 |
| £7,000 | 13.9% | 36 months | £236.27 | £8,505.72 |
| £10,000 | 13.9% | 60 months | £228.15 | £13,689.00 |
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