Types of Egg Accounts and Services

2008-10-21 15:41:52

( Financial )



About Egg

Originally hatched by the Prudential group in 1998, Egg is a fully online internet site that offers various banking and finance services to consumers. The company is currently a subsidiary of the Citi group, which is one of the world's largest financial institution.

Egg Deposit Accounts

You can open an Egg account in minutes for as little as one pound up to a maximum of one hundred thousand. You can do deposits and withdrawals online by transferring funds from one bank to another. Egg also compounds the interest on savings accounts each day.

The initial interest rate for Egg accounts is quite high at about six percent for the first year, then the rate slides down to around four percent. You can deposit or withdraw any time of day, with no withdrawal penalties.

You can also invest your money in tax-deferred government bonds called Individual Savings Accounts or ISAs. And because it is part of the Citi group, Egg can also help you find the best investment opportunities.

Egg Mortgages and Credit Card Services

Egg also offers home mortgages and credit lines. It takes only minutes to apply for Egg loans, as long as you can provide sufficient information and have an excellent credit history. You can choose any loan term between six months to seven years. Loans are payable without penalty even though you make the payment before the due date.

The company also has offers its own Egg Visa credit card which you can conveniently use in your purchases. Even your Egg credit card can be used to apply for loans.

Egg Insurance

Egg offers home, auto and travel insurance policies through a collaboration with AXA. You can get special discounts for the premium if you are already an Egg customer and if you buy online.

Under Egg travel insurance, you can choose a coverage period anywhere from a single trip to multiple trip within one year. You can include seventeen days of ski vacation coverage at no extra charge.

You can buy emergency cover for lost or misplaced wallet, passport and other valuables. Coverage is for incidents that may occur either at home or abroad.

Online Access 24/7

You can always monitor your Egg account anytime through the online site. This will help you keep a tab on your Egg account activities so that you will not miss a single payment on your Egg loan. You can make transfers between two of your Egg accounts or use part of your deposits to pay your loans, credit card balances or insurance premiums.


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