Text Loans – Money arrangement through SMS
Text Loans Money arrangement through SMS
In today's day to day world, people do not have the time to visit a lender to avail a loan. It takes lot of time, which the borrower may not have. Therefore, there is a very easy way to avail an advance. By applying for text loans, one can send a text message to the lender to apply for a credit.
The lender can offer amounts up to 100. The borrower has to pay the amount back within a term of 1 to 7 days. These credits are short-term finances, which save a lot of time for the borrower. He has to send a text message to the lender if he wants the finance and then he can get the money transferred to his account.
Features of text loans are these advances are approved instantly and the money is received quickly. People with bad credit history can also avail this credit, as there is no credit check involved. The borrower must mention the loan amount in the text message. This amount can be used for a small emergency purpose that is the domestic expenses. Since the repayment term is very short, the lenders charge a high interest rate.
The conditions to be followed for approval of this credit are:
The applicant must be a citizen of U.K.
The applicant must be a major, i.e. 18 years of age or above.
The applicant must be employed in any organization.
The applicant must earn a regular monthly income.
The applicant must have a bank account.
The applicant must have an email id and a mobile phone with an active number.
To avail this credit the borrower can also choose the online method the borrower has to just fill an online application and once the application is approved and the credit is sanctioned the amount gets deposited in your bank account.