TxtLoan is a payday loan provider in the UK market. They are unique in that they offer loans completely on your phone. You have to register once and you might need to fax in some documents, but after that, you just have to send a text and you will receive a loan fast. If you want to look at UK lenders side-by-side, go here: TxtLoan.
You might not have heard what a pay day loan is. Simply explained, it is a short-term cash advance when you need to bridge the gap between two paydays . Of course, it can’t be a solution for your financial situation over the long term. But when you need to cover your expenses today and cannot wait, a payday loan can be a great help.
If you are getting a loan from TxtLoan, then you can only borrow £100, no more, no less. This is one downside of TxtLoan – if you need flexible conditions, you might want to take a look at other lenders as well.
The typical annual percentage rate, or APR, for your loan, can be expected to be around 894%. This is the cheapest you most probably will find. In this industry, an APR of 1500 or 2000 percent is common.
The money is fast to arrive as well, even when the working day is over and their office is closed. So when you find yourself needing cash fast on a weekend, TxtLoan can come to your aid.
However, there is a same day transfer fee of £5.50. The typical repayment amount on a 7 day loan is 10% – so for each £100 borrowed, you repay £110, plus the same day transfer.
Usual terms apply – you must be over 18 years of age, be a resident in the UK, and receive a regular salary. The minimum salary you can apply with is at least £400. Your bank account must be able to receive direct debit.
In addition – this lender, unlike almost all others on the market, requires you to have a mobile phone and an e-mail address. But – this should not present too big of a problem nowadays.
To read more about this lender and others, click here: Txtloan Review or here: Txtloan Review.
