SMS loans to the bank account immediately provide money quickly and reliably. The applicant can have the necessary amount in just a few minutes after the application has been approved. But what are the tricks of these loans and what to watch out for?
These loans fall into the category of loans up to CZK 10,000. To get a quick SMS loan, you must complete the registration form and wait for approval or disapproval. As a rule, the client chooses how much he or she wants to borrow on the website of a given company, for how long and immediately sees the expected amount of the installment.
“Frequently Asked Questions” and APR
In the Frequently Asked Questions section, the customer usually knows whether a given company is looking into the debtors register, whether a paper receipt is required or if a guarantor is required. Another important indicator that the candidate should follow for each loan is the APR. It means – simply put – how much a year a person pays extra on the amount he borrowed. SMS loans “immediately” usually have a significantly higher APR than other loans.
On the other hand, it is not a problem to borrow even a lower amount – for example, a few hundred crowns – and the excess is not so high in absolute amounts. The maturity of these products is 30 days. This is undoubtedly an advantage because the client does not have to pay too long and only borrows what he really needs.
Loan via SMS – money to bank account
Money is usually sent to the client’s bank account after sending an SMS message. Bank transfer is cheap and does not require too much administration from the creditor company.
SMS loans without registry check
Some companies operating in this area are tolerant of possible negative entries in debtors’ registers. There is also a chance for applicants to have a chance to get funds, who had a “foul” in paying their liabilities and looking for a “loan without registers”.
SMS loans for postal order
Some non-bank companies realize that not all clients are willing to send money to a bank account. They therefore offer the possibility of sending a loan for a postal order. The disadvantage over “loan on account” is the longer delay between the approval of applications and the receipt of money. Money for a postal order usually goes to the applicant for 2-3 working days.
Getting money is simple, but beware of the risks
Get a loan via SMS is quick and easy. However, it should be noted that it is not entirely risk-free. Before submitting an online application, the candidate should think carefully about whether he really needs the money and if there is no other way to get the money (for example, ask a family member). He should also count on the fact that he will have to pay a part of his next paycheck in installments, leaving him with less money for next month.