MYJAR

4260 reviews

788% Representative

Will lend between: £100 - £7,200

Over: 3 - 24 Months

Representative example: If you borrow £500 over 6 months at a Representative rate of 788% and an annual interest rate of 238% (variable), you would repay 1 instalment of £142.10 and then 5 monthly instalments of £142.42. The total charge for credit will be £354.20 and the total amount repayable will be £854.20.

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Representative 49.9% APR.

MYJAR customer reviews.

4260 reviews

4.7 out of 5 stars

MyJar - shocking service
20:41 13-04-2016
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Myjar started off well, and then they wanted a copy of my debit card for my 2nd loan application - I duly complied. They then said the picture quality was very poor - rubbish nothing wrong with quality. I said I would take my business to Payday UK. I wrote a review on Trusted Reviews, and they reduced my limit from £2.5k down to zero - they cannot lend to me! The excuse is my credit report had changed in 24hrs - bull. They don't want my business because I wrote a very truthful review, and it did not fit in with their existing reviews. Avoid please, and use a company which appreciate your business.

Martin

Fab
14:42 12-04-2018
ImageSmart Money People

Really helpful customer service. Really quick bank transfer. Really easy to use and set up.

Sadie

Unprofessional
09:23 13-01-2016
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Apply via their website - very easy to use. I was asked to provide additional information - namely a bank statement.Duly emailed bank statement off and have heard nothing since! No replies to my email enquires. Been 3 days now.I'm assuming I was unacceptable - which is fine, but they need to be professional and state that.I'm actually worrying that I've been ripped off, as they now have my card information AND my bank details!Con at best. Scam at worst!!

Sara

disgusting
16:47 09-02-2018
ImageSmart Money People

Absolutely disgusted with this companies policy. zero interest in anything but making as much money as possible. Employees are clearly trained to hide any emotion or empathy with their customers. Took out a loan of £1850 in desperate times, changed my mind just 7 days later (they have a cancellation period of 14 days). Logged onto website just to pay it off immediately with funds borrowed from a family member, not wanting to pay an further interest. for a 7 day loan they charged me more than £72!!!!! When i challenged them they said it was my own fault as i had no given them notice!!! They must have known i was in financial difficulty by approaching them in the first place, but all they want to do is add to it!!! avoid avoid avoid.

Baz

The best there is.
15:03 22-03-2014
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My jar have been amazing, I've been with them for a couple of years now and at times when I'm a bit under it they have always helped no questions asked. On two occasions I had problems paying my loan and on both occasions the company kindly deferred the loans for me, something they didn't have to do. I would defo recommend these guys. Great customer service and low rates to go with it. All in all the perfect cup of tea :)

Kayla C

Returning customer
22:38 01-07-2017
ImageSmart Money People

Offer you a more credit to take out everyone you pay back a loan. You are able to pay short or long term so I have multiple options. I will definetly be back

Lavell Francis

Brilliant!
22:35 07-02-2014
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I have used myjar a few times ive found their staff to be helpful when changing card details etc. Their website is easy to use, loans easy to apply and pay back. My only criticism would be that it would be good if less interest could be paid when paying back early. That being said they are honest and upfront about their fees. Definately the best out the lot

Cheryl

Quality service
19:30 01-07-2017
ImageSmart Money People

Fast payout, easy instalments, no hassle borrowing.

Mark McMullen

The best ....
15:43 14-01-2014
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I absolutely adore MyJar ... I had been with them when they were originally TxtLoan and have never, ever had a problem with them!I got into a spot of financial difficulty due to do losing my debit card, and needing a new one to be issued - this occurred the day before my loan was due to be repaid.I called MyJar and explained my situation, they were brilliant and deferred my payment for 1 week and 2 days, no interest and no charges.:)

James Parsons

Friendly and helpful
12:55 01-07-2017
ImageSmart Money People

Polite and very helpful and works around your needs

Mary MIlne

Our review of MYJAR

Founded in 2009, MYJAR are a high-cost short-term lender based in London. Dependent on your personal circumstances MYJAR offer high-cost short-term loans of up to £7200. Their representative APR is mid-table on Choose Wisely, but do note the rate you’ll be offered can change dependent on how much you borrow and again, your personal circumstances. To put their rates in perspective, daily interest is 0.75% for a 3 month loan, 0.65% for a 6 month loan and 0.35% for 12 month loan.

Their website is informative and simple to use which makes the whole process of applying less painful. Once you have registered with MYJAR and successfully paid off your first loan you won’t need to go through the application process again. Their handy online account system allows customers to log in, update any information necessary and then reapply. Through this management tool customers can also make early or partial repayments and view their balance. This allows the customer to stay in control and allows them an opportunity to save on interest.

As with any high-cost short-term product the usual warning applies. If you have any doubt whether you can afford to repay your loan on time and in full, then don’t apply. By missing or being late with repayment you will incur a fee of £15 (if payment is not made after 3 days), you will continue to pay daily interest on any balance still remaining and you won't do your credit file any favours.

Overall verdict: MYJAR have clearly perfected their customer service and application process, which is reflected in their positive reviews, so if you are looking for a short term loan then MYJAR are worth considering. One thing to mention is that although they do have a competitive APR in comparison to others in the high-cost short-term market, there still may cheaper borrowing solutions available dependant on your circumstances.

Written by: Alex

Highlights

  • Loans available up to £7,200
  • Loan terms between 3, 6, 12 and 24 months
  • Partial or early payments can be made at any time
  • No hidden fees or charges
  • Online account means easy management of the loan
  • You don’t need to have good credit to apply
  • Payout can take only 15 minutes from approval

Minimum criteria

  • You need to be aged 18 or over
  • You will need to have a regular income
  • You must be a UK resident
  • You need to have a UK bank account with an active debit card
  • You will need a mobile phone
  • You must have an email address

Fees

  • Maximum APR 1326%
  • Arrangement fee: £0
  • Early repayment fee: £0
  • Late payment fee: £15

MYJAR Customer Question & Answers

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About MYJAR

MYJAR offer short-term loans up to £7,200 that can be repaid over loan terms of three, six, 12 or 24 months. Their representative APR is 788% and the daily rate is charged at different levels depending on how much you’re looking to borrow and the length of the loan.

The application is completed online and takes only a few minutes to register. MYJAR will let you know if you’re accepted by text and email. Once accepted, you can request the funds which will then be in your account within 15 minutes. If you’re a returning customer then there’s no need to reapply, you can just log in to your online account and request further funds. When applying to MYJAR, even if your credit history isn’t squeaky clean MYJAR will consider your application. However, you will need to have a regular income and be able to prove you can afford the repayments.

MYJAR allow customers to make early repayments in full and the customer will only pay for the days they have borrowed the loan. You can also make partial payments if you have spare cash which means that the overall interest will be reduced – this can be done using the online management tool.

Company information

Registration number: 08518406

myjar.com

020 3006 2000

Moss House, 15-16 Brooks Mews, Mayfair, London,

FCA registration

Reference No: 673214

Trading names: Myjar Limited

Place of business: Moss House, 15-16 Brooks Mews, Mayfair, London, W1K 4DS

Data protection registration

Registration No: ZA003195

Data controller: MYJAR LIMITED

Address: Moss House, 15-16 Brooks Mews, Mayfair, London, W1K 4DS

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