TxtLoan Review
- TxtLoan is one of the pioneers of text loan lending in the UK and opened its doors in 2008.
- They have a secure, online procedure to apply for a text loan.
- First you need to register (free of charge) your name, mobile number and email to complete a one-off sign-up with them. Within minutes your registration details will be processed and you will either be approved or declined.
- If approved you can then simply send an SMS or Text message to get a loan and it will be deposited in your bank account within minutes.
- New customers qualify for only one loan amount: £100. Returning customers can qualify for more: £200 or £300.
- Loans are for a fixed period of 15 days – so 15 days after receiving a loan your bank account will be debited to make the repayment.
- The cost of all this convenience is £17 for every £100 borrowed for a period of 15 days. To compare with other text loan and payday loan lenders in the market it would cost £34 to borrow £100 for a 30 day period.
- No other charges or hidden costs.
- You can only get another loan once you repay your outstanding loan.
- Advantages: Registered customers can get a loan within minutes via SMS or TEXT message at anytime of the day or week – a highly convenient service.
- One of the lowest accepted minimum monthly income levels: £400. Weekly income accepted. Part-time employees accepted.
- They do ID checks but do not credit check you except in marginal cases.
