MyJar (https://www.myjar.com/) trading as MyJar limited and one of the most well known companies in the short term lending arena. Formed in 2009, they’ve borrowed over £405 million across the past 8 years making them one of the biggest (and most trusted) firms out there.
Since starting out, they’ve processed over 2 million loan applications and across the industry boast one of the highest approval ratings on third party websites such as TrustPilot.
APPLICATION REQUIREMENTS:
The requirements for taking out a loan via MyJar are fairly straight forward. You must be a permanent UK resident, be 18 or over and have a regular source of income. You will also need to have a verifiable e-mail address and mobile phone number. Finally, you will need to hold a UK bank account as this is where your loan will be paid and subsequent repayments taken from.
LOAN AMOUNT AND CHARGES:
MyJar offer some of the largest short term loans in the business along with some of the best repayment terms. Their maximum loan amount is currently £3,600 for both first time and regular applications which leaves a lot of other lenders in the shade. You can also opt to pay back the loan over 12 months.
There are no hidden fees associated with MyJar payday loans but the interest rate does vary based on the term you’re taking the loan over so make sure you check that before accepting any loan.
PROCESS:
Providing you meet the requirements outlined above it’s simply a case of visiting the MyJar site and running through the online application process. Should you be successful in your application once complete you’ll be presented with an acceptance screen outlining the proposed amount they’re willing to lend you and the interest on top. You can then decide whether or not to accept the loan.
PAYMENT:
The loan itself is sent directly to your bank account upon approval. This usually happens same day and the subsequent repayments of the loan are deducted from your debit card on a month to month basis.
