Before applying for a loan, it is very important that you really think first about whether it is right or to borrow money. If the decision then becomes that this is the way to go, it is important to get a loan that is as favorable as possible. In the case of SMS loans, it is therefore important to carefully check the prices from the lending institutions.
There are both advantages and disadvantages
For those who want to compare SMS loans with other more classic loans such as mortgages and private loans. The big advantage is that it always says what the loan will cost in kronor, which makes it easier to see than when it says that a loan costs X% every month. In principle you can say that it is only to look at the lists where prices are compared and find the cheapest price.
The downside is that there are so many lenders in the market that it can sometimes be a little difficult to find the cheapest alternative just because there are so many.
Not really that simple
Of course, just looking for the cheapest price is a simplification and there are some other things to consider as well. For example, you might rather pay back the loan in two months instead of one and for this you are prepared to pay a little more. Since all lenders do not offer loans for more than 30 days, it can then be a little difficult to compare. What you simply have to do is compare exactly those who lend money for more than 30 days.
Application fee is also something to look up when making a decision. In the comparisons we have here on the site, such a fee is always included. However, it is not certain that the lenders will include this sum when they sign their prices. After all, it is also true that not everyone uses an application code that costs money. Nor is it generally possible to say that those who apply for an application code are more expensive to borrow.
Therefore, if you are sure of being approved for an application, it is no problem to take the cheapest without thinking more about it. But if you are hesitant to get approved then you should know that if you pay money for an application code you will not get them back if the loan application is denied. You simply paid USD 25-50 for something that you have no use at all.
Of course, we have a comparison of a number of lenders offering micro loans and SMS loans here on the site. Just keep in mind that all lenders offer micro loans applied through the internet while far from all offer their customers to borrow only with the help of mobile.
So if you want to find the cheapest price, you have a better chance of checking out our micro loan comparison department. However, if it is just an SMS loan you are looking for, you should of course check our comparison for the particular lenders who offer SMS loans.