TxtLoan is a British payday loans business. They are one of the very few who provide loans you can get 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 review.
In case you are not familiar with payday loans, they are a type of short-term financing for bridging the gap until your next pay day. It is not a long-term financial solution, but if you have expenses that you must cover today, then these loans 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.
You can expect an APR of 894% on your loan – and this is one of the lowest APRs on the market today. 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.
For same day transfers, a charge of £5.50 applies. 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. Your bank account must be able to 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.
To continue reading about TxtLoan and other lenders, go here: Txtloan Review or here: TxtLoan Review.
