The last thing you want when you need to borrow money is infuriating processing delays. Loans from MYJAR allow you to access money when you need it without endless hurdles being put in your way. Once your online application is complete, we have run our credit checks and agreed a loan limit for you, that’s it – the loan is there at a time to suit your needs, not our convenience! There’s no rush: your account will remain active for 3 months, so there’s no pressure to make an immediate decision. However, if you want to borrow money fast, the funds can be sent to your account within fifteen minutes of making the request - it’s that quick.
How Much You Can Borrow
If you are a first-time MYJAR customer, you will be able to borrow £100 and you will need to repay £120 18 days later (Representative APR 3943%). However if you return to MYJAR, the amount you are permitted to borrow could increase to £500 depending on your track record and on-going credit score.
Making Your Repayment
We will take the money automatically from your bank account. We won’t surprise you with the repayment; we will make the date clear in all our communications with you from the beginning of the process. We will also send you a reminder text at least two days before your payment is due, to give you ample time to ensure you’ve got enough in your account.
MYJAR is committed to responsible lending so we operate a no-rollover policy. This means that we do not allow our customers to borrow money in order to repay an existing loan with us; no customer can have two loans out at once. This policy is designed to promote the financial stability of our customers. If you repay your loan on time, you won’t face any additional charges.