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Small Loans

Repay monthly on your pay date

Rated 9.4/10
by more than
2000 customers

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You can borrow UP TO £[[product.limits.upper_limit]]
Rate [[product.interest]]% per day

You can borrow UP TO £[[product.limits.upper_limit]]
Rate [[product.interest]]% per day


Borrow: £100 for 30 days Interest: £24.00 One repayment of: £124.00 Annual interest 292% (variable). Representative 1270% APR


Repay early and save money
A late payment charge of £15 is added 3 days after due date
Short term loans may not be suitable for long term borrowing
Loans for over 18's only and are subject to status

Small loans

Most of us need a little bit of extra cash from time to time perhaps to cover an emergency like car repairs or an unexpected bill or to take advantage of special discounts. If you do need to borrow for a short time, sometimes, it can be difficult to weigh up the best options, especially if the matter is urgent.

It is tempting to think that if it is just a small loan over a short period, you don’t need to take too much time thinking about it, but whenever you borrow you should think carefully about a number of things:

Am I borrowing the right amount?

It can be tempting to try to borrow as little as absolutely possible but that can mean that you don’t have enough to achieve what you need. For example, there is no point in spending hundreds of pounds to get your car repaired if you know that you need to also replace the tyres.

It may also be tempting to borrow too much to give yourself a little leeway, but then find that you end up paying back more interest on an amount of money borrowed than you really need to.

Take a bit of time to work out exactly what you need to borrow and how much you can afford to repay, taking into consideration the interest charges.

How will I repay the loan?

One temptation when taking out a loan is to convince yourself that it will be easy to make the payments on time, but even small loans need to be planned for and properly thought through. What other bills will you need to pay in addition to the loan amount and will that cause a problem? Do you have any excess income to cover the the overall repayment(s) of a small loan.

What is the loan for?

It often makes very good sense to use a small loan to buy something that you want or need. You might be able to get a discount for paying cash or bulk-buying or it might save you money for example buying a monthly rather than a daily train ticket. However, it is never a good idea to borrow money to pay off other loans or credit, unless you will be saving yourself money. If you are not sure that you will have the funds available when it comes to repaying the amount back do not borrow.

Ways to borrow small amounts

Short-term loans can be very convenient if you need a fairly small amount, usually up to about £1000 and you can get this sort of loan for periods of up to a year. Typically with this type of small loan the deal is clearly explained up front so that you know exactly how much it will cost you, when you will have to make payments and how long it will take to repay the loan.

The MYJAR small loan

A MYJAR small loan provides a way of borrowing the exact amount you need from £100 up to £3600 with loan terms to suit you from 1 to 12 months.

First time borrowers have the choice of a small loan of up to 1 month and 3 months and eligible returning borrowers have the additional choice of 6 and 12 month options.

Move up the MYJAR ladder by repaying your loans on time. Our daily rates range from 0.80% for our 1 month loan and 0.35% for 12 months. Your MYJAR credit score determines which loan options you can access and the amount that is affordable to repay each month.

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk