Mobiles phones have become more of a necessity than just a luxury
. They can be used for varied purposes. You might not be aware but you can also apply for a loan through this mode. Yes, it is true. Technology has introduced this new means of providing financial assistance. You can now get Sms loans to fulfill your needs. This is so much more convenient than going personally visiting different lending institutes. The funds borrowed may be used for different reasons such as to pay off pending bills like telephone bills, electricity bills, medical emergencies and routine expenses among other.
This form of fiscal assistance offers you an amount up to 100 for a period of 1- 7 days. The repayment period of these advances can also be extended. You must give the lender prior notice before you extend the period. The lender will debit the funds from your account on the day of repayment.
To apply for this credit you need to first register your mobile number with the lending institute. Then you must fill an application form giving all the necessary information. You must give the right information. The lender will verify all your data and will send you a confirmation e-mail. This mail will also include the various terms and conditions and your personal PIN number applicable in the deal.
However next time you need money, you just have to text the lending institute. This message must also include the amount and the repayment period. The funds will get transferred to your account within few hours.
In order to be eligible you need to fulfill the following criterion such as; you need to be a citizen of U.K, you should have a mobile number, you should be above 18 years of age, you should be employed with a regular income, you should have a minimum salary of atleast 1000 and you need to have an email id to co-ordinate with the lender.