The fast loan via SMS is an innovative idea and above all it is a very simple type of loan to request. The capital is disbursed by text message from the bank that proposes it, in this way it is possible to avoid the related documentation for the verification of the economic status of the subject receiving the loan.
Obviously, this type of loan allows you to have a low loan, in fact the maximum allowed is the figure of 500 €, also because the repayment plan is short and usually only 30 days. The fast loan via sms is a solution that can be useful in case you really have money urgency or in the case where unexpected expenses occur which were not foreseen and which must be faced in some way.
The idea was born in Northern European countries and is gradually spreading to the rest of the continent; more and more credit institutions are proposing this type of financing and have already set out very specific conditions and requirements, in order to manage the risk of capital insolvency with simple and rapid timing.
The Fast Loan via SMS: What figure can be requested?
The fast loan via SMS, also known as Sms Loans, provides limited financing, as it is possible to request a minimum amount of € 50 and a maximum of € 500. The loan must be repaid within 30 days of the disbursement of the capital with terms and conditions established by the bank itself that proposed the loan. Therefore it is possible to request a modest sum to remedy the expenses which are suddenly added and there is no possibility to face the new situation only with one’s own strength.
What are the necessary requirements to request and obtain a fast loan via SMS?
To apply for a fast loan via SMS you need to have some requirements, in fact, not everyone can have access to this type of loan. The requirements that must be available are essentially two, namely having a bank or postal current account and having registered and accessed on the website of the credit institution.
As said it is essential to have an open current account, this is, in fact, the main requirement to be able to request a fast loan via SMS. Being a current account holder is a guarantee for the bank as regards the real possibility of repayment of the credit by the beneficiary. The capital required is paid directly into your current account, while the loan repayment plan is chosen directly by the customer, but cannot exceed 30 days, as if you were not able to repay the loan within this time, yes would incur some penalties that will lead to having to pay additional fees.
How to apply for a loan via SMS and how long does it take for the provision of capital?
Requesting a fast loan via SMS is very simple, in fact it is sufficient to send the request via a simple message after registering on the site of the credit institution that proposes this particular financing method. This second requirement is very important to be in touch with your bank without wasting time. Usually the financing is obtained within 15-20 minutes from the sending of the request SMS.
The times for the acceptance for the acceptance of the loan are not however very long, almost always do not exceed 30 minutes and the answer comes through a confirmation sms directly on your mobile phone.
The timing for the confirmation of the acceptance of the loan by the bank, varies from institution to institution, but usually does not exceed one hour or at most a couple of hours.
Fast loan repayment via SMS: interest rates
The interest rates provided for this type of loan are quite high even if they are not so different from those proposed for fast online loans.
The interest rates for this type of fast loan often depend on the days used to repay the disbursed capital. That is, if you repay the sum in 30 days, the rate could even be 30%, but if you exceed the one-month limit, the interest rate can increase a lot, as you will have to pay penalties and additional commissions.
However, despite being an existing type of loan, many are wary, since interest rates are considered very high and above all because, being a type of financing that is not very popular in Italy, most banking institutions do not have clear and defined policies for being able to provide the loan quickly via SMS without problems.