MyJar Loan Alternative
MyJar is a leading short term credit lender in the UK that can offer short term financial solutions to people having money emergencies. They provide UK residents with short term loans. However, MyJar aren’t necessarily a direct lender for everyone. There are reasons why people look for a MyJar payday loan alternative. Sometimes MyJar loans aren’t as flexible as you want your loan to be. If this is the case for you, consider LoanPig as a great MyJar loan alternative. We offer flexible, affordable loans that are quick and reliable.
What Are The Differences Between MyJar Loans and LoanPig Loans?
One of the most notable differences between MyJar and LoanPig is that MyJar is a direct lender and LoanPig is a direct lender and a finance broker. When you apply for emergency loans from MyJar, they are the ones who directly approve and supply the funds for your loans. When you apply for loans through LoanPig, however the process is a little bit different.
As a loan broker as well as being a direct lender, we also directly approve and supply the funds for your loans, but we also have a panel of top UK lenders available to approve your loan when we can’t. When you submit your application, we share your loan requirements with our lenders and if any of them accept your loan application, if we cannot help you directly, we will put you in touch and they will be the ones to supply your loan to you. This is what makes LoanPig loans a great MyJar loan alternative. With more lenders on our side we can give you more options and a better chance of finding a direct lender with good rates.
Another difference is the period options you have to repay your loan with MyJar, they offer you set repayment periods of 3, 6, 12 and 24 months depending on what amount you are looking for. LoanPig offer you the flexibility of choosing your own repayment period, between 1 and 12 months.
MyJar Loan Alternative
You have many options when looking for an alternative MyJar Loan and Loanpig is one of them. Although Myjar is a well-known direct loans lender and has earned a good reputation for their short term loan lending practices. When it comes to applying for your short term loan, it is important to shop around in order to compare your options and find the best loan option for you. If you are considering taking out a short term loan to better manage your finances before you reach payday, be sure to consider LoanPig as your MyJar loan alternative.
What Do LoanPig Loans Offer?
With LoanPig, we operate in a way that allows you to take out a loan that suits you by giving you control of the size and duration of your loan. This means that you can take out a short term loan and pay it back over a time frame that best suits you. We offer highly competitive interest rates, too!
Are Both My Jar And Loan Pig FCA Approved?
Both My Jar and LoanPig take pride in being FCA regulated, which means that they work hard to keep their customers safe from having to deal with unscrupulous lenders. If safety is your main priority, you should most certainly be on the lookout when choosing your My Jar loan alternative to make sure they are regulated by the FCA, too.
How Does The My Jar Application Process Differ From LoanPig?
When looking for a My Jar loan alternative, it is important to consider how easy and straightforward the loan application process is. Applying for My Jar payday loans can all be done online and after you have submitted your application you will be informed by text and email whether your application has been successfully approved. From this point onwards, you will be able to make a request for your desired loan amount either online or by phoning in.
At LoanPig, the application process takes place entirely online and you are able to pick your desired loan amount from the start of your application, making the process far more streamlined and transparent. With LoanPig, you are also guaranteed to not have to deal with any bothersome phone calls or paperwork as we work solely online.
Is LoanPig A Direct Lender?
While MyJar loans are from a direct lender (someone who deal with your loan directly), here at LoanPig we offer a Direct Lender and a broker service. This means that we can offer you the loan ourselves, but also work alongside you in finding the perfect loan to suit your particular needs and requirements from our panel of specialist lenders. The benefits of using a broker is that you can save time exploring MyJar payday loan alternatives and allow us to do the hard work for you in finding you a reputable broker.
The Pay Out Time
At LoanPig, we take pride in being able to offer a very fast pay out rate that makes us a strong contender in your search for a MyJar payday loan alternative. We act fast to get your application approved and match you with a loan lender that is perfect for you. Once your matched lender completes the application process, you will find the money that you need in your account as quickly as the very same day!
What Is The APR?
The APR (or Annual Percentage Rate) refers to the sum of money that you will be expected to pay back on top of your borrowed amount. Typically, while the APR rate of short term loans is often higher than that of bank loans, it does mean that you are able to receive your cash quickly. Furthermore, an unsecured loan like a payday loan means that you are not required to put collateral to back up your loan, so late and missed repayments may result in additional fees and interest added to your original loan amount.
What Is The Lending Criteria For MyJar Compared To LoanPig?
In order to be eligible for a MyJar loan, you will need to make sure that you meet the following criteria:
- You have a regular income source
- You are a UK resident
- You have a bank account with an active debit card attached to it
- You have an email address and verifiable mobile phone number
- You are over the age of 18
Here at LoanPig, we and the lenders on our panel also require you to meet the aforementioned criteria. However, while you may need to provide your email and telephone number, you will not have to deal with receiving phone calls from us as we work through an online process and verify your information.
Why Should I Choose LoanPig?
It can be hard to know who to use as a MyJar loan alternative as there are so many lenders out there that promise the same things. We believe that LoanPig would make a fantastic choice and a great alternative to a MyJar loan as we are able to offer you the chance to receive a bespoke service in which you are matched with your ideal lender through a straightforward application process. We are also proud to be able to offer you some of the highest payday loan application success rates, which means that if you have found yourself being turned away for a loan elsewhere, we may be able to help. This, alongside our transparent method of trading, means that you will be in safe hands when looking for a loan that suits you!
Are LoanPig Loans Secured?
One of the benefits of most short term loans – be it a MyJar loan or a LoanPig loan – is that they are unsecured. This means that if you are ever unable to make repayments, you will not be faced with losing your personal belongings, such a house or a car. This is different to bank loans, which are secured and you could be faced with repossession if you ever fall behind on your loan repayments.
How Much Can I Borrow With LoanPig?
At LoanPig, we offer you the chance to borrow between £50 and £1500 pounds and pay the loan back over 1 to 12 months.
Contact us today for further assistance when it comes to finding you the ideal MyJar loan alternative for you!
Please note : LoanPig or any of its subsidiaries are in no way connected to MyJar or any of its subsidiaries. The article above represents a factual comparison to a MyJar loan. If you apply for a loan on the LoanPig website, you are applying for a short term loan with LoanPig and it’s panel of lenders, not MyJar