Smart-Pig is a loan service offered to students in the UK. Smart-Pig lets you borrow up to £350 until your next student loan, quickly and hassle-free. Because their loans are designed just for students, not owning your own home or not having a full-time job will not impact your application.
Built for students by students, Smart-Pig understands more than anyone that your income is low, which is why they offer small loans. Their daily interest rate is just 0.8%.
Am I eligible To Apply For a Loan With Smart-Pig?
As Smart-Pig offers loans exclusively to students, you must be classed as a student studying at a UK university. You must be receiving a Student Loan, Grant or Bursary from Student Finance England/Wales, SAAS or the NHS.
Additionally, you must be aged 18 years or over, a resident of the UK with a valid UK bank account with debit card.
How Do Repayments With Smart-Pig Work?
Once your loan has been approved, you will be given the option of repaying you loan over a period of between 1 and 180 days.
You will be required to pay the loan instalments back on the dates specified during your application. Like many lenders, Smart-Pig use Continuous Payment Authority (CPA) on your debit card, which means they are able to charge your card without you having to make the payment manually. This can help prevent payments being missed.
You will be able to extend your loan (up to the sooner of 180 days from the date you took the loan or your next student loan date), pay the loan back earlier or borrow more money (depending on your current situation).
Here is a representative example of a loan from Smart-Pig:
- ARP 1084%
- Based on credit: £200 for 48 days
- Interest: £76.80
- Interest rate:292%pa (fixed)
- Total to repay: £276.80
More Useful Information About Smart-Pig Loans
No late repayment fees. Smart-Pig understands that student loans don’t always arrive when you expect them to, so there are no late repayment fees.
No rollovers. Smart-Pig will not invite you to extend your loan or borrow further funds.
Founded by people just like you. Smart-Pig was created by students for students. Following a nasty experience with an online lender, the Smart-Pig founder was determined to create a financial product that fits in with the student life.
Useful Information about Smart Pig
Call: 0203 5071 930
Warning: Late repayment can cause you serious money problems. For help, go to www.moneyadviceservice.org.uk.