When you borrow money in the form of SMS loans, you obviously want to find a loan that is as cheap as possible. This is where we try to help you by comparing prices, for example, and then giving you links that you can benefit from.
One thing to keep in mind is that the word SMS loan refers to loans that you apply for by just using the mobile phone. This is something that far from all lenders offer who deal with smaller loans. If you want a larger selection of lenders, you can then visit our department where we write about micro loans. Micro-loans, which is the collective term for all smaller loans of this type. All lenders accept applications for loans via the web, which means that you will then have more opportunities to find a cheap lender.
Borrowing via the web or mobile usually costs as much from the lenders who have both options in their range. It is therefore only the question of what prices the various credit institutions charge.
What is a Cheap SMS Loan?
This is a question that is a little difficult to answer as it is all about what you compare to. If you only look at the interest rate, SMS loans and all other micro loans are much more expensive than, for example, mortgages and private loans. For this reason, it can be said that there is no cheap SMS loan.
But if you compare with other lenders that offer SMS loans you will soon notice that there is something called cheap and expensive SMS loans. For example, if you look at regular prices for an SMS loan of USD 2,000, you can quietly differentiate USD 250 between the cheap and expensive lending institutions. In this context, one can say that there is something called cheap SMS loans. Then, as always, you have to think about whether or not it is a good idea to take an SMS loan as you will actually have to pay a fairly substantial amount of money for a loan that usually extends over 30 days.
Free SMS loan
There are actually possibilities that you can borrow money for free, although this may sound a bit strange. In fact, some lenders have offers that say new customers can borrow from them for free. Should you then borrow again from the same lenders, you will have to pay their regular price for the SMS loan.
Taking such an offer can be a good idea as you save money and there is actually nothing that says you have to borrow money from this particular lender multiple times. If in the future you want to take out an SMS loan again, there is nothing to stop you from taking the loan from someone else. Therefore, it is important that you always compare prices between different lenders before you borrow money. Their rates can change at any time, so you should never borrow from the same lender without checking the others first.
Find the cheap SMS loans
If you want help finding the SMS loans that will cost you as little as possible, the first tip is to look a little further down in this article where we have a list of slightly different lenders offering SMS loans.
The next tip is that you visit our department where we compare loan costs for different lenders. There, for example, you have a greater opportunity to compare the prices of loans of different sizes. We also compare where micro loans that you then notice are several.