Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk Loanski is an authorised credit broker not a lender

    Safety Net Credit Alternative

    Loans from £100 to £10,000

    • 1 month to 5 years
    • 100% online application
    • All credit scores welcome to apply
    • Paid in as fast as 10 minutes^

     

    Secure SSL connection

    Your application is sent over a secure encrypted network

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

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    Representative 305.9% APR.
    Representative example: £400 borrowed for 90 days. Total amount repayable is £561.92 in 3 monthly instalments of £187.31. Interest charged is £161.92, interest rate 161.9% pa (variable). Loanski.co.uk does not provide any loan or consumer Credit products directly.

    Choose Loan Amount

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    Representative 305.9% APR.
    Representative example: £400 borrowed for 90 days. Total amount repayable is £561.92 in 3 monthly instalments of £187.31. Interest charged is £161.92, interest rate 161.9% pa (variable). Loanski.co.uk does not provide any loan or consumer Credit products directly.

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

    Loans from £100 to £10,000

    • 1 month to 5 years
    • 100% online application
    • All credit scores welcome to apply
    • Paid out in as fast as 10 minutes^

     

    Secure SSL connection

    Your application is sent over a secure encrypted network

    REPRESENTATIVE 305% APR

    Loanski offers competitive interest rates compared to some lenders across the market.

    Installment Options

    Customize your loan term from 1 month to 60 months putting you in control of your payment plan.

    Fast Payouts

    You can expect fast payouts sometimes within 10 minutes^

    Company Number: 

    07721420

    Company Name:

    Indigo Michael Ltd

    Date firm started up business:

    28/07/2011

    Related brands:

    Indigo Michael Limited

    Tappily

    Loan value range:

    0 pounds to 500 pounds. If you are an existing customer then you can borrow up to £1000

     

    Loan term length:

    There is no minimum or maximum repayment term because SafetyNet Credit uses permanent revolving credit lines to access whenever you need. Similar to a credit card.

    Head Office Address: 10 Brick Street, Mayfair, London, W1J 7HQ

    FCA Status: Authorised

    Payout Time:

    If you are approved then you may have access to your money within 15 minutes.

    SafetyNet Credit Review:

     

    SafetyNet Credit is a loan with a difference. Instead of being given a lump sum with a certain amount of time to pay it back, you are given access to the borrowed amount, which you can access as and when you want.

    This is called a revolving credit line and works similar to a credit card, except you are able to withdraw this one to your bank directly.

    SafetyNet credit uses new, advanced smart technology where it can link to and track your bank balance. When your balance is low, they can automatically top your account up, saving you from going overdrawn and receiving bank charges.

    They will only take a payback for the money you borrow when they know you can afford it. Again, tracking your balance and taking payments when it is high and won’t put you in any financial difficulty.

    This automatic service is optional so you don’t have to use it if you don’t wish to.

    SafetyNet credit will only charge 80p per every £100 borrowed per day for a maximum of 40 days, so the maximum you will pay is £32 per £100 borrowed.

    They do not add charges or fees for anything else.

     

    How the company works:

     

    If you would like to apply for a loan with SafetyNet Credit, the process is simple. All you need to do is fill out their online application form, answering the basic questions.

    You will then need to link to your online bank account and give SatefyNet Credit ‘read-only access’ so they can monitor transactions and assess your credit record.

    This is a simple process and you can enter your details securely using their online system.

    If you are accepted, you may receive your funds within minutes.

    Meaning of SafetyNet Credit:

    The actual word MYJAR doesn’t mean anything in the English language. However when you separate the two words ‘MY’ and ‘JAR’ The two words mean the following:

    MY – DETERMINER

    belonging to or associated with the speaker.

    “my name is John”

    JAR – NOUN

    a wide-mouthed cylindrical container made of glass or pottery, especially one used for storing food.

     

    Why MYJAR for a loan company name?

    Well, it is a catchy and unique name that possibly resembles a money jar or piggy bank that we may have used as children to collect coins. MYJAR is a quirky, unique name which is more likely to stick in your mind.

     

    Collecting Jars!

    This name also resembles the system MYJAR uses for its customers. When you apply for a MYJAR loan online, you will be offered what is known as “jars of money”. These are the loans that you will be eligible for. The longer you are a MYJAR customer and prove that you are a responsible borrower paying back your loans on time, you can then collect more jars in which you are able to borrow more next time and ‘move up the ladder’.

    safety net

    NOUN

    a net placed to catch an acrobat or similar performer in case of a fall.

    a safeguard against possible hardship or adversity.

     

    The name “SafetyNet Credit” is implying that they will be your safety net in times of hardship or when you need them. It is a very well thought out name and a clever one for a finance company.

     

    Repayment method:

    You can make repayments anytime using your online SafetyNet credit dashboard. Payments can also be taken automatically when you have enough money in your current account.

     

    Do I need a bank account?

    To have an account with SafetyNet Credit, you will need a UK bank account along with online banking services that are in your name. You will also need your main source of income to be paid into this account.

     

    Requirements for the loan:

    Age restriction

    You will need to be over 18 years of age if you wish to apply with SafetyNet Credit.

     

    Address information

    During your online application with SafetyNet Credit, you will be required to provide your address history over the previous 3 years. These addresses will need to have been within the United Kingdom.

     

    ID and Income

    You will need a regular source of income going into your bank account. SafetyNet Credit will be able to verify this when you provide them with ‘read-only access’ to your bank account.

    They will also be able to confirm your identification this way.

     

    Penalties

    There are no extra fees with SafetyNet Credit, you will only ever pay interest on the amount you borrow; unless you miss payments then you risk penalties and administration fees.

    If you think that you will struggle to make payments in any way, it is always best to contact SafetyNet Credit directly and speak to them about this, so that they can help you and set up an alternative payment plan, if possible.

    Not doing this may result in putting yourself in a worse situation.

    How the company works:

    MYJAR is similar to most online loan companies. You can apply directly online and upload any required documents through your online account.

     

    Repayment method:

    The main method of repayment with MYJAR is via CPA (Continuous Payment Authority).  CPA is where the money is deducted directly from the bank card you input when you apply for your loan.

    If this method does not suit you then there are a few more alternative payment methods that you can choose from. The payment methods include online directly from your MYJAR account, via TEXT or by TELEPHONE.

     

    Do I need a bank account?

    Yes, you will need both a UK bank account and a debit card that is linked to the same bank account to be able to apply for a loan with MYJAR.

     

    Requirements for the loan:

    To be eligible to apply for a loam with MYJAR you must fit 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.
    • Be able to afford the repayments over the agreed term of loan.

     

    Address information

    When applying for your loan with MYJAR, you will need to provide your address history over the past 3 years.

     

    ID and Income

    Once you have filled out your application, you will only need to provide proof of ID and income if it is requested. Under some circumstances, it will not be required.

    Reviews

    On Trustpilot, SafetyNet Credit has very good reviews. Their total star rating is 4.5 out of 5 which is very good.

    A fantastic 92% of their reviews are rated as both ‘excellent’ and ‘great’ with only 6% of them being rated as ‘poor’ and ‘bad’.

    Of the reviews which have been rated as excellent and great, customers compliment SafetyNet Credit on just how fantastic their service is and how much of a great option it is compared to a credit card.

    Their service is rated as fast and reliable with their customer service team being very friendly and helpful when their customers needed them.

    There are mixed reviews, which are rated as bad and poor.  Some customers are complaining about the amount of interest they were charged and the fact that it was all taken as a lump sum from their bank account.

    But it is important to remember that it is not a one-time loan you will be borrowing. The service SafetyNet Credit offer is ‘never-ending’, if you will, like a credit card.

    You can borrow when you need to and payback borrowing again the next month without applying again.

    Your account will stay open until you no longer require the use of it.

    On each of the bad reviews, the customer service team has responded to each one offering a full solution to the customer and an apology, which goes to show that this company really does care about their customers and the service they receive.