Mobile Text Loans- Get Funds Through A Simple Message!

By Author: Jake Matthew
Total Articles: 11
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In today's busy world, people do not have the time to personally visit a lender to apply for loan as it is very time consuming. So, lenders have introduced mobile text loans which are an easy way of applying for finances. Mobile text loans are meant for people who face sudden financial crisis and want to get rid of it. Applying for this loan is very simple, all one has to do is send a text message to the lender mentioning the loan amount he wants. The lender will transfer the amount in borrower’s bank account on fulfillment of certain terms and conditions.

Mobile text loans are short term loans and lender charge slightly high interest rate of these loans because of its short term nature. That is why it is advisable that the borrower must do some research work before applying for the loan amount. Many financial institutions provide mobile text loans which offer loan amounts up to £100-£300. The Borrower has to repay the amount within a period of 7 days. The Borrower should inform the lender of any delays on his part by giving a prior notice to the borrower. If the borrower is not able to repay the loan amount within ...
... the repayment period, the loan amount is automatically deducted from his bank account. To apply for mobile text loans, one has to get himself registered with lender’s website. Once this is done, the borrower will receive a confirmation email and then he can send a text to the lender which will help him apply for these loans. Once this is done, the lender sends the borrower a pin number which can be used for further transactions. The loan amount is electronically transferred in to borrower’s bank account within 24 hours of approval.

Mobile text loans can be used for various purposes like grocery purchases, paying electricity bill, medical bills, and tuition fees and for paying other such important bills. The best thing about mobile text loans is that lender does not conduct any credit check on borrowers. People with a bad credit history can also apply for this loan. According to the eligibility criteria applicant must be a UK citizen and of 18 years and above, the borrower should definitely own a cell phone with an active number as it is needed for sending text messages. The Borrower must have a permanent job proof as this shows his repaying capability. Also the borrower must have a bank account and an active email id.

Jake Matthew is financial adviser for Quick Mini Loans.To find more about mobile text loan, sms text payday loan, mobile phone loans, mobile phone text loans and text loans by phone.visit http://www.quickminiloans.co.uk