Smart Pig Review | www.smart-pig.com
Address: 34 Warwick House, Clarendon Street, Leamington Spa, CV32 4PG.
Branding: Smart Pig. AKA: SmartPig.
FCA Licence: 671696.
From: FCL Consumer Finance Ltd.
Related: No companies.
Bad Credit Smart Pig Loans Available?: Yes.
Manage: Smart Pig login provided via www.smart-pig.com.
Offers: Short term, payday and instalment loans.
Opening Hours: Monday to Friday (9am/7pm), Saturday to Sunday (10am/6pm).
Secure (SSL): Yes.
Sums: £50 to £350 (new and returning).
Terms: 1 to 180 days (next payment or before).
£5.60 /£100 (7) <0.800%>
£24 /£100 (30) <0.800%>
£150 /£300 (3) <0.556%>
£150 /£300 (6) <0.278%>
Notes: Service is only open to those studying at a UK university. They must be receiving a loan or grant from Student Finance or income from NHS or SAAS. You’ll need a copy of your Student Loan Payment Timetable or a letter from the SLC or equivalent. The repayment is generally set against your next loan date although you can set this up to come out sooner. If you have applied for future finance, but don’t have your Payment Timetable for next term, they may be able to still help.
– Operations: This lender operates 7 days a week. The times have changed since we last checked up. Their weekend hours are now 10am/6pm rather than 9am/7pm.
– Niche: Smart Pig was the first dedicated student payday loans provider and there has been non others following in their footsteps. The company was formed by Shreiff Benaziza and Tom Parks who have each studied themselves. They have managed to attract 45,000 customers. There was previously 2 other projects in the pipeline from FCL Consumer Finance including First Class and Uberdraft. These have been removed from their FCA page, but there is a banking product on its way called Synced.
– Pricing: Matches the cap over shorter periods, but the cost becomes highly competitive once you meet their very own interest cap.
– Pricing Cap: You never pay more than 50% of the amount borrowed. As seen in the examples above, the £300 sum at 3 months has already met this capping (this crossover hits at 63 days) and so when you double this term up to 6 months you are paying the same interest. Their terms are also highly flexible moving in daily increments, but you’ll need to pick a date before the next pay date and so not everyone will manage to get their top deal.
– Profile: Since launching in early 2012, the company Facebook page has notched up more than 25,400 fans. Out of their 45,000 user base, this shows that they have brand loyalty on their side that only the majors tend to attain.
– Recent updates have seen an address change, they have also stopped at £250 for new customers and their weekend hours were 9am to 7pm.