Money saving tips & news

Loan Jargon Buster

When you’re searching for a loan, it’s normal to encounter various abbreviations, jargon and small print. It’s important to fully understand this terminology before making the decision to take out a loan – which is why at MYJAR we aim to make the borrowing process terms of our loans as clear and simple as possible.

17th December 2018

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Flexible loans

How much would you like to borrow?

£

How long would you like to pay back your loan?

  • 3

    Months

  • 6

    Months

  • 12

    Months

  • Daily rate per
    £100 borrowed

    75p
  • Interest
    payable

    £240.13
  • Monthly
    repayment

    £246.71
  • Total
    repayable

    £740.13

*Monthly repayments may differ slightly in the final loan offer, illustrative purposes only

*Monthly repayments may differ slightly in the final loan offer, illustrative purposes only

Representative example: Borrow £300 for 3 months. Annual interest rate 274% (fixed). Repay in 3 instalments of £148.02 each. Total amount to repay £444.06. Representative 1081% APR.

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