Egg bank UK have been a beloved credit card and loans company for many years. Unfortunately, and as stated on the egg loans home page, as of April 2011, they have transferred their ownership to Barclays Banking Ltd. Although existing Egg credit account customers can continue to use their accounts, the company is no longer taking on new customers.
What sort of loan do you need
There are no such thing as free loans, there is always an interest rate involved. So, it is extremely important that you assess your needs fully before applying for a credit card or loan. First of all and quite obviously, how much do you need to borrow? If it is a large amount, like money specifically for a mortgage or new car, then loans which are fixed term or flexible loans may be your best option. However, if you are only looking for a small amount of extra money now and again, a credit card may be a better option. In both cases, you must be able to pay your monthly bills, as failure to do so may result in fines or in worst cases home repossession. There must be at least 3000 different loan variations available, so make sure yours is perfect for you. To get approval, you will need a steady income and a good credit history.
Once you have decided on what you want from your money account, you can start looking for providers. Egg were great because they could offer lots of added extras for their customers like good rates and bonuses. They could do this because they were an internet banking site. However lending with an online bank means that you cannot just pop into your branch if you have a problem. ING Direct Another bank like this is ING Direct. They have Internet and phone banking facilities and so can offer excellent rates. However, if you really want this personal face to face touch, online banks may not be for you. You can approach any of the leading banks for your situation, but be savvy. Visit Moneysupermarket and compare the market online to get an idea of rates first. Once you are armed with these, you can approach the banks and see if you can get a bit more for your money.