You may have noticed a new addition to the PiggyBank website: a Financial Conduct Authority (FCA) approved price comparison website, allowing you to compare different lenders for short-term, loans. This is the result of a recent report by the FCA that found it can be difficult for customers to identify the best-value direct payday lenders for their borrowing requirements.
As a fully authorised and regulated lender by the FCA, PiggyBank are committed to following their rules and guidance to ensure we treat our customers fairly and responsibly. PiggyBank can now be found on the money.co.uk comparison website. money.co.uk was established in 2008 and attracts millions of monthly customers comparing over 17,000 financial products.
The comparison tool allows you to compare loans much more easily and to establish the best value based on how much you want to borrow, for how long and when you get paid. The service is completely free to use and will help you make a much more informed decision.
Much like the PiggyBank loan calculator, the tool is easy to use. Simply use the sliders to select how much you wish to borrow, how long you want it for and when you get paid. The comparison tool will then direct you to a results page in which you can see a comparison of lenders displaying the available amounts, terms, representative APR and the total repayment amount.
PiggyBank always keep our customers at the forefront of the decisions we make. The addition of an FCA approved price comparison website ensures that our customers can make more of an informed decision when looking for a short term lender.