Facing troubles in managing your finances during the time when a financial glitch is onto you? Looking for alternative, going to friends and family members to borrow some money but couldn’t? Worry not, stay calm and apply for SMS loans, your perfect partner during an unfavorable condition.
SMS loans or small loans are apt solutions for those having a sudden financial glitch of nowhere. They are hi-tech versions of normal small loans which one can get over a SMS or text message without lingering for a long time period or waiting for weeks to get the finances in his/her account.
What’s best about SMS loans?
The best aspect of this fiscal service is that it doesn’t include stern methods, heap of formalities or a long time to get processed. Also it doesn’t include property evaluation or any sort of guarantee that lenders often need before approving a loan to the borrower. What all it needs is the simple eligibility a borrower must possess.
In order to get finances under this option, one just needs to provide proofs regarding age that states he or she is of age 18 or above, he/she has been employed in a firm past six months drawing a good amount of money per month, he/she is a resident of United Kingdom and he/she has a bank account in active state. Once these are proved, the money seeker is eligible to apply for SMS loans.
In this regard a form is given to be filled and submit online with accurate credentials mentioned in it. Once the form successfully passes through the verification, the amount of loan is approved and a text is sent to the applicant containing the PIN code- the key to getting cash through SMS.
Drawbacks of Small Loans
As the finances given through small loans are anywhere in the range of 100 to 1000 pounds they include a very small tenure of repayment. One is given just a week to pay back the loan plus the owed interest by the due date. Any delay will include other charges and penalties which will automatically add up to the cost of the loan. Being free from guarantee or property pledging formalities, it always includes a hefty interest rate. So, one has to be watchful while applying for this loan. The best way to get affordable rates is to match loan quotes and shop around.