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TxtLoan Review – Here’s What You Should Know About TxtLoan, The Text Loan Provider

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TxtLoan is a payday loan provider in the UK market. They are one of the very few who provide loans you can get completely on your phone. For the first loan you get, you need to register with them. But once you’re registered, you can simply send a text message and the funds will be transfered to your bank account. To compare UK payday lenders, visit this site: SMS loans.

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.

The only loan amount you can get from TxtLoan is simply £100 – you cannot choose the amount. 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.

All loans are same day transfers – even if it’s past 5pm or it’s not even a business day. 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.

Conditions are regular – your age must be 18 or more, you must be resident in the UK, and receiving regular wages. Your wages must not be below £400 – this is their minimum. You must also have a bank account which can receive direct debit.

TxtLoan is different from almost all other lenders, though, by asking that you have a mobile phone along with an e-mail address. But these days, that should not be a problem.

The WhichPaydayLender.co.uk Team has written this Review on TxtLoan for you.

To read more about this lender and others, click here: Review on Txt Loan.

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