At 1st Class Loans, they are able to support you in finding an alternative choice to My Jar Loans. They are slightly different from My Jar because they are a direct lender whilst they are a credit broker. 1st Class Loans matches one to lenders like Mr. Lender, 247Moneybox and much more at no cost.
MYJAR ALTERNATIVE – FIRST CLASS LOANS
Your best option for a MyJar alternative is to use a broker should you have failed their eligibility checker. A broker will scan all available options that will accept you in the UK for your personal situation.
What include the eligibility requirements?
You should only make an application for an MYJAR loan if you’re certain you’ll be able to generate the repayments, and also you qualify below:
- Residency UK resident
- Minimum age 18
- Additional eligibility notes You must hold a bank account within the UK having an active debit card.
- You have to have a verifiable cellphone number and email address contact information.
- You should have a consistent income source.
MYJAR might consider the job based on factors together with your income, credit rating and then any history with MYJAR.
How do I get a loan from MYJAR?
Once you’ve selected a loan duration and amount well suited for your circumstances, you can apply by completing the net form. You’ll be asked to supply information regarding your wages, expenditure and bank account. Make sure you provide accurately and finished information.
Additional Borrowing Options
MYJAR won’t currently allow you to top-up or extend your loan, or sign up for more than one loan concurrently. You can get a new loan once your outstanding loan and interest have been repaid.
The lender is a lot more flexible when it comes to making overpayments or repaying early, however.
- Repay early at any point
- Repaying early is effective in reducing overall interest
- Interest is just applied to days where funds are outstanding
- Phone number 020 3006 2000
Letting customers repay early – simply charging interest on the days they borrow – can be a major plus. Because MYJAR’s rates get lower because the loan terms get longer, you might tend to apply for a longer loan than you will need so as to keep that rate down, then simply pay it off early.
So as an example, if you need to borrow £500 for ninety days, you might request a 12-month loan instead, and pay it off early within ninety days. That way you’ll pay interest at 0.35% every day rather than 0.75%, and may well avoid around a cool £130.
What’s harder to express, however, is actually MYJAR would approve a whole new customer for the one-year loan. All applications are considered on individual merit. It’s also essential to note that a few people with a shorter loan might be safer – particularly if their circumstances change a lot. Repaying a loan early takes self-discipline.
But, if you can bag that 0.35% daily rate – that’ll be unequaled in the world of high-cost short-term credit.
Loans like MYJAR
If MYJAR’s not for you personally, it is possible to browse alternative sites inside the table below.
- MYJAR Short Term Loan
- Lending Stream
- Sunny Loan