The internet time has brought the possibility to apply for a loan at any time and practically from anywhere. This is doubly true for so-called SMS loans or loans to pay . But can this product really provide the applicant with an “immediate” account?
With the expansion of the Internet and online services, there has also been a big shift in the world of loans. In addition to traditional bank and non-bank loans, loans before the payout started to appear on the Internet at some time. The applicant applied online for the first loan via an online form, if he repaid the first loan on time and could request another loan by sending a simple SMS message – hence the SMS loan.
First Online Request – Examination of Applicant
These loans are often referred to as SMS loans immediately , but it should be said that the word “immediately” is more likely to be applied to repeated requests. For the first loan you apply for via the online form, your credit provider must review your creditworthiness. It depends on the creditor, how thoroughly he will want to check your repayment – someone will need a completed registration form, another will contact your employer and inquire about your salary.
In some cases, a “paper” receipt may also be required. In any case, the execution of the first loan may be somewhat longer – for a few hours or even a few days. However, you can submit your request at any time – nonstop – by day, night, weekend or holidays, and you do not have to wait for the next business day morning to complete the form.
Repeated SMS loan immediately
If you repay the first loan in a timely manner, you will gain the trust of the creditor company and no longer need a lengthy confirmation to obtain a second loan – you just write a text message in a specific form and the system will send you money on account. In addition, if you have an account with the same bank as your creditor company, you may lose your money during the weekend. So here you can talk about the so-called fast loan “immediately”.
Loan up to CZK 50,000 immediately
Online loan application without paperwork
On this page, choose the loan amount, register here and get a loan without formalities up to 50,000 CZK . Repeated loan at any time!
Cons, or what to watch out for
The main disadvantage of SMS loans is the high APR – annual percentage rate of charge. This number tells us how expensive the loan is to us. Its amount depends not only on the amount of interest, but also includes any possible additional charges that may accompany the loan.
Before you decide on any of the loans, find out not only the amount of interest and necessary fees, but also the amount of individual installments, their due dates, the total payment schedule, and what are the possible penalties for non-compliance with this payment schedule. The decisive factor is the amount by which you will overpay the borrowed amount.