In this dynamic world, everything changes very rapidly
. Likewise lending services of the financial institutions has also undergone rapid changes. Now you can avail small cash quite easily if you own a cellphone. If you urgently need finance and do not like to get cash with a complicated paper based finance scheme, this deal is meant for you.
Text advance can be derived through online process. Use of online process in this plan, avail you cash in a hassle free manner. You just need to register your personal details on the online site of a small cash lender. After successfully completing your registration process, you can send a SMS to that lender. Lender will transfer a mini cash amount up to 100 into your bank account via electronic fund transfer. You can use this micro fund for a week time. After the expiry of your loan term, you are required to pay back sum with your new months paycheck. You do not require faxing your personal details for getting approval of a SMS loan.
Lenders have set some basic criteria of text loans:
1.Applicant should be a citizen of United Kingdom,
2.The age of an applicant should be 18 years or above,
3.He must hold any type of cellphone plus a valid email ID &
4.He must be holding a bank account for the purpose of fund transfer.
With the availed cash amount under the text finance plan, you can manage your smaller needs such as purchasing a small gift item, paying off small telephone bills etc. Borrowers are not required to furnish security guarantees to the lenders for SMS advances. Poor credit record of a person is also not a negative factor for this SMS cash.
But the SMS finance schemes involve high interest rates. This is due to short term validity of these schemes.