Egg Banking started as a division of Prudential in 1996, renaming and relaunching itself in 1998 as the UK’s first purely online bank. Since that time, 21% of the Egg Bank was listed on the London Stock Exchange for three years between 2003 and 2006 before being bought back.

Egg experimented with operating in France from 2002 to 2004, however with the comparatively lower rate of credit card usage in France meant that they were not as profitable, exiting the market in 2004, they sold the division to Netherlands based ING.

Prudential sold Egg to Citigroup in January 2007 for £575 million. When the financial Services Authority approved the sale in May, Egg’s CEO Ian Kerr was appointed head of Egg and Citi UK Consumer.

Egg Loans

Egg offers flexibility loan services, typically with 9.9% APR and repayment schedules lasting six months to seven years and no early repayment penalties. Egg loans can range from £1,000 to £25,000, as with all their services, it is done entirely online. Under £5,000, the APR increases to 16.9% APR.

Egg Mortgages & Egg Remortgages

Egg offers five discount mortgages, ranging from an over all cost of 6.7% to 7.6% with an initial APR ranging from 4.99%to 6.5%, allowing customers to choose the mortgage that best fits their ability to repay. These specific variables change over time and potential clients of Egg mortgage services are encouraged to check Egg’s specific offerings.

Other Egg Services

Egg offers 5.75% AER savings accounts, as well as a 6.05% Cash ISA, the savings accounts have no limits, while the Cash ISA is limited to £3,000 per year.

Egg’s credit card offering includes 0% interest for up to 12 months on transferred balances and 0% for three months on purchases. Typical APR is 16.9% once these benefits no longer apply. Egg’s credit card has special offers with selected retailers as well as active fraud monitoring and 24hr online account management.

Positive balances held in an Egg Money account earn 4% AER and 7.9% APR if you over draft your account. Egg Money offers cash back on every purchase made – rewarding your behaviour if you choose to save or spend.

Finally Egg provides Egg Money Manager, a tool to manage online accounts both inside and outside of Egg. This versatility provides costumers to view and manage their online accounts.

About Loan-Seeker.co.uk and Egg Bank

Egg Bank and Egg Banking are not related to and do not have a direct business relationship with Loan-Seeker.co.uk. Loan-Seeker.co.uk neither promotes Egg Bank or Egg Bank loan, Egg Bank mortgage, or Egg Bank remortgage products. Loan-Seeker does not work on behalf of Egg, the Egg Bank or Egg Banking in any guise but we might choose to work with the Egg Bank loan products shown below in future:

• Egg Car Loans
• Egg Mortgages
• Egg Remortgages
• Egg Homeowner Loans
• Egg Secured Loans
• Egg Personal Loans
• Egg Unsecured Loans

Loan-Seeker is not a broker/lender. Loan-Seeker.co.uk is an independent website which means that we are not employed by any one lender company. If you solely require information about the specifics of an Egg loan, Egg mortgage or Egg remortgage you can visit Egg online here: www.egg.com.