All of us have heard about online loans that provide fast access to funds but now text loans are introduced through which you can avail even faster cash. People in UK can now make use of their mobile phones to meet their urgent requirements. What you first need to do is to register your cell phone number with the lending company. The lenders give you a unique PIN number that validate you to do further transactions in your future.
When you need a small amount of money for a short span of time, you can opt for text loans. You can avail an amount up to £100 for a period of 7 days. The gained loan sum is deducted from your bank account automatically after the specified period. The repayment term is also flexible, in case you are unable to pay off the received amount on your repayment date, you can ask for extending it. The lenders will charge some extra interest or charge for rescheduled date.
In order to be benefited from this financial scheme, you must meet the eligibility criteria laid down by the financial institutions. These include proof of attaining the age of 18 years, proof of citizenship of UK, valid bank account and most important a mobile phone number and an email address for any correspondence with the company. Once you qualify all these prerequisites, you can apply for text loans without any hassle.
You need to send a text message to the lending institution with all the details of the loan sum and repayment tenure in order to gain access to the desired loan amount. A PIN number will be sent to your cell phone and you will be asked to validate it. After the verification, the loaned sum is transferred into your bank account immediately that was provided by you during registration.
