How it works

MYJAR short-term loans are from £100 to £2000 over 3, 6 or 12-month terms. It’s important that you read the information on our website and in our FAQs. If you have any questions before applying, contact us.


To take out a loan simply click apply and fill out our application form. We will send you a unique pin code via text, which you will need to enter at the end of the form.


If you apply for a loan, we will determine how much you can borrow based on what we believe you can comfortably afford to repay each month.


In general, you will repay part of the loan amount, plus interest on each monthly repayment. However, you can make extra payments whenever you like, and even repay the whole loan early, helping you save money by reducing interest charges.


Once you have been approved to borrow, we will transfer the money to your bank account usually in as little as 20 minutes.

How it works

Quick Answers

Eligibility criteria

To be eligible for a loan, you will need to meet the following criteria:

  • Be over 18 years of age
  • Reside permanently in the UK
  • Hold a bank account in the UK with an active debit card
  • Have a verifiable mobile phone number and email address
  • Have a regular source of income
  • Able to afford the repayments over the term of the loan


Once we have confirmed these details we will make any necessary checks required to support our lending decision and to ensure the loan is affordable for you.

Requesting your loan

New customers can apply at any time by completing the online application form which you can access by clicking ‘Get Started’.


Information Needed

To help us ensure the loan you are requesting is right for you, we will need to know details regarding your income, expenditure and bank account. It is important that the information you provide to us is complete and accurate as we use this information to assess your application. Please make sure you have any documentation you might need before starting the application.


Supporting Documents

In order to lend responsibly, sometimes we ask some of our customers to provide extra documents to support their application, such as bank statements, a copy of your debit card, ID or a proof of your address. We do this to check things such as identity or income information before lending. We will let you know what we require.


Account Decision

We will keep you informed from within your online account area on the status of your application, and by both text and email. If approved, to complete your loan application, simply log in to your online account, follow the simple steps and read and sign the credit agreement and other important loan documents which will be presented there. We usually send money to your account within just 20 minutes of final approval.

How much it costs

It is free to apply for a loan from us and we don’t charge any money for transferring the money into your bank account. We only charge interest for the days that you borrow and you may be able to save money by making early repayments. Here at MYJAR we pride ourselves in keeping details of all costs clear, simple and transparent.


3-month loan: 0.75% per day (or 75p per day for each £100 borrowed).

6-month loan: 0.65% per day (or 65p per day for each £100 borrowed).

12-month loan: 0.35% per day (or 35p per day for each £100 borrowed).


We guarantee that you will not be required to repay more than twice the amount you originally borrowed on any of our loan products.


Our short-term loans are not suitable for longer-term borrowing needs.


Making payments

Repayment Schedule

Logging in to your account will allow you to view your repayment schedule. This is also outlined in your credit agreement, so you will always know when the next payment is due. In addition to this we will also send you a reminder in advance of each scheduled payment through SMS and email.


Repayment Method

Once we have agreed on the most convenient time of the month for you to make repayments we can then take payments using a Continuous Payment Authority using the details of your debit card.


If you wish to make a payment outside of the scheduled arrangement, then you can do so via logging into your online account, via text or calling us. You can read more about this in our FAQs. Remember, we only ever charge you interest on the days that the loan remains outstanding, so we strongly encourage you to pay early whenever you can, that way you can save yourself money.


If you miss a payment we will attempt to contact you to and let you know what has happened. We strongly recommend you to contact us if you are experiencing repayment difficulties.


Returning customers

If you’re a returning customer, simply log in to your account, update any information that is required and select the loan you want (amount & term). You will need to sign a credit agreement and accept our terms and conditions each time you borrow. You will be subject to further checks, so that we can ensure you can afford the repayments.


The most important thing when you borrow from us is that you are confident of your ability to make your repayments on time. Late payments can damage your credit score.

Your account

Through your online account area, you can track the current status of your application, repay part or all of your loan, update your details, amongst many other self service features. Simply log in to your account with your registered mobile number and PIN.


Forgotten PIN

If you ever forget your PIN we have a range of different ways for you to request a new one:



Text the words ‘LOAN’ and ‘PIN’ to 82777 by using the mobile number that you registered with us and we will send you a new code. Text messages will be charged at your standard network rate.



Using the mobile number that you have registered with us call 020 3006 2000 and follow the automated instructions to get a new PIN code sent to you.


If you have any other issues whilst accessing your account, you can contact our customer service team.

Warning: Late repayment can cause you serious money problems. For help, visit the Money Advice Service

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