Now a day, the new era of cell phone usage has increased! Therefore, there are certain financial institutions in UK that have strategized forms of financing in a simple and convenient way. In other words, the availability of text loans help satisfy extremely urgent requirements. Thus, they prove to be a formula for a quick finance.
Such advances offer an amount up to £100 pounds for a period of 1- 7 days. You can also extend the repayment period of such credit. On the date of repayment the lender will debit your account with the amount of the funds. In case you want to extend the repayment period you have to inform the lender. However the lender will charge you an additional fee every time you extend the period.
Text loans can be easily availed with the help of a text message. Hence, this message conveys to the lender the specific amount desired to be obtained. On the other hand, the details of the budgetary statements of the borrower must also be stated.
It is advisable to the applicant to review the various offers of such deals before making a final appeal to an institution. He can research on these advances and thus have a good and clear outlook towards them. On the basis of these views and previews the applicant can make an appropriate choice of deal.
There are some eligibility terms which after its fulfillment you can apply for the loan. These requirements are a necessity for the lender company for offering you the credit facility. They are as follows:
1. The applicant must be a citizen of UK
2. He or she must have completed 18 years
3. He or she must have a legitimate account in any of the banks of UK
4. And in addition to this it is important that the borrower must own a mobile phone.