If you are one of the many Danes who go and consider taking out a loan through your mobile, read here. Despite the fact that we have primarily focused on ordinary quick and internet loans, we would like to introduce you to all the advantages of borrowing on the mobile.
Like the quick loan, you get a very favorable loan that is easy to record and you can look forward to the money being quickly paid to your account.
A quick payout with a SMS loan
One of the clear benefits of SMS loans is that you can enjoy the money quickly entering your account – meaning you don’t have to worry about going for weeks and waiting for the money to go in.
As soon as your application is approved, your provider will start processing the actual contract and then the money will be deposited into your account. This is an ideal solution for those who need a loan now and then and who do not have time to go down to the bank, where you often have to wait for weeks to hear back.
In many ways, a SMS loan can thus be considered as a quick loan – but where you have the opportunity to apply for the loan via your phone.
What does a SMS loan cost?
It’s hard to say exactly what a SMS loan is going to cost you, as there are a lot of providers today that offer this type of loan. Therefore, we always recommend that you research the loan market and possibly use the popular calculators to assess which SMS loan from which provider can best respond to you.
If you have a good credit rating and have previously taken out loans that you have paid back on time, it is possible that you will be offered the so-called SMS loans for free where you only pay very low interest rates on the loan. In some cases, there are also SMS loans where there are no interest rates on top and where you just have to pay for the creation costs of the loan, but these types of loans are rare.
When should my SMS loan be repaid?
One of the biggest differences in a regular payday loan and a sms loan is that the repayment period of the mobile loan is a lot shorter than an ordinary payday loan that you have taken over the internet. This means that you usually have to pay the full amount back to your creditor within a reasonable amount of time – usually within 4-7 weeks.
Therefore, if you need to repay the loan for a long period of time, we recommend that you examine the possibility of borrowing another type of loan – possibly a regular online loan. Here you can usually withdraw at a pace that suits you, which means you don’t have to worry about not being able to repay the loan.