MyJar Loan Alternative
If you’re in need of a short term loan or are currently seeking a MyJar loan alternative in order to solve a financial emergency, then you should look no further than a short term loan from LoanPig. We are here to provide you with an emergency loan solution.
Choosing a loan is not always straightforward. That is because a lot of the options on the market today each have their own specific criteria, repayment structures and terms and conditions. Therefore, choosing MyJar, over an alternative, might not always be the best option for your financial situation.
How Does A MyJar Loan Work?
When you apply for a MyJar loan, you’re submitting your application directly to the lender. They assess your application and provide you with the cash if your loan is approved. What this means is that the interest rates and other fees, the charges, the loan terms and the repayment periods that are applied to your loan are all set by the lender i.e. MyJar. This process lacks flexibility, and priorities a “one-size fits all” approach to payday loan lending which we here at LoanPig do not agree with.
Why Choose A MyJar Loan Alternative?
If you are experiencing a financial emergency and need cash fast, a MyJar loan alternative, such as those provided by LoanPig (directly or via our brokerage service) can give you access to the money you need when you really need it most.
By seeking out the best possible deal, you are making sure that you are getting the most competitive interest rates, as well as the right deal for you.
Instead of having your repayment period pre-set by the lender, you really should choose a lender who will allow you to choose your own repayment period. If you wanted to pay your loan off quickly, then you can choose a lender who has a repayment term of 1 month, or you can choose a lender who has a repayment term of 12 months if you need more time to pay off your loan.
With LoanPig you have access to a broad panel of different UK lenders, so with more lenders to choose from, you have a greater chance of finding a short term loan with more affordable repayments and more flexible loan terms to suit your individual needs. Whereas with MyJar, you only have one option.
Am I Eligible For A MyJar Loan Alternative?
Before you apply for your payday cash loan, take some time to make sure that you are eligible. Alternative payday loan lenders will almost always check the following criteria:
– You must have a regular source of income
– You must be a UK resident
– You must be older than 18 at the time of your application
– You must supply a real mobile phone number
– You must have an active email address that you can access
– You must have a debit card attached to an active bank account
Keep in mind that you will not be contacted by your chosen lender by phone. All of your details will be confirmed and verified online.
How Much Can I Borrow?
Depending on your financial situation, you could borrow as little as £50 or as much as £1,500, or any amount in between. However, it’s important to remember to only borrow as much as you can afford to repay. Click here to learn more about our short term loans.
Will My Loan Be Secured Or Unsecured?
MyJar loan alternative loans by LoanPig are unsecured loans, so there’s no need to offer an asset or item of value as security for your loan. As your payday loan is unsecured, you reduce the risk of the lender repossessing your personal belongings or other assets if you fall behind with your loan repayments.
Keep in mind that any late or missed repayments could incur extra fees and penalty interest charges being added onto your original loan amount. You can avoid these additional fees being charged by always making sure your repayments are made on time and in full.
What is the APR?
The Annual Percentage Rate (or APR) is the amount of interest that is charged on the amount that you have decided to borrow. Typically, each month you will be required to pay a percentage of your loan, as well as the APR on top of that loan amount. The actual APR that you are charged will vary depending on the lender used to fund your loan and the amount of time you choose to take to pay your loan back.
Remember that the APR for payday loans is often higher than those loans that are offered via banks, or other financial institutions.
When Do I Get My Payday Loan?
If your payday loan is approved, you could get your money deposited into your bank account the same day.
How do I apply?
The application process for a MyJar loan alternative is quick and easy and is as simple as filling in an online application form. Simply enter in the details that we need to process your application, including the amount you want to borrow, and we will do the rest. Once you’ve completed your application and submitted it to us, you’ll receive a text message or an email letting you know whether your application has been approved.
Why Should You Choose LoanPig As Your MyJar Loan Alternative?
When you’re facing a financial emergency and you need cash in a hurry, it can be difficult to know who to trust. Fortunately, MyJar loan alternatives as provided by LoanPig can give you access to a variety of different lenders who are more likely to offer excellent short term loan options to suit your individual financial requirements.
Disclaimer: LoanPig, or its subsidiaries are not connected to MyJar in any way. The information provided on this page is a comparison to MyJar only. Applying for any payday loan or short term loan on the LoanPig website means you will apply for your loan with LoanPig finance brokers and their panel of UK lenders.