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Sms Lån: What Is It, Can You Get It In Norway & Should You?

When you find yourself in need of some quick cash, you will start thinking about the options you have to come up with the money. Your friends and family members will cross your mind, and then you’ll weigh the pros and cons of asking them for money. That’s when you’ll realize that they either won’t have the cash you need, or that asking for it would be inappropriate, because everyone has their own expenses and their own lives to live. Upon realizing that borrowing from your friends and family isn’t exactly a good move, you will probably get a bit discouraged, thinking that you won’t be able to find the quick cash you need.

Is that really so, though? Isn’t there another option you can use? There is a chance that you have, at one point or another, heard of a concept called an SMS lån. If you remember that concept at the time of need, you might start believing that you have found the perfect solution. Naturally, you won’t jump towards using any such solutions before you actually figure out what an SMS lån is, and whether you can even get it in Norway.

Apart from that, you also want to check if getting such a lån is really worth it, because you don’t want to do anything that could harm you financially. Anyway, if you go to https://www.forbrukslån.no/sms-lån, you will realize right away that the SMS lån is not much different than a regular personal unsecured loan that you can get. This will most likely put your mind at ease, since you’ll suddenly be dealing with something much more familiar.

Anyway, you will still want to learn all there is to learn about the SMS lån before you decide if you want to use the option or not. So, if you are ready to get all of your facts straight on this and finally find out precisely what this concept entails, I say you should simply continue reading. I will answer some important questions for you below, and you will, thus, get a much clearer idea on how all of this works and what you need to keep in mind if you decide to go for it. Here we go.

What Is An Sms Lån?

Unsurprisingly, the first thing we need to make clear is what an SMS lån actually is. There would be no point in talking about the specific solutions in Norway you could use if you don’t even know what this particular option entails. Sure, the name may speak for itself to a certain extent, but you still need to know the specifics, meaning that you shouldn’t just look at the name of the loan and be done with it.

Basically, an SMS lån is a short term loan that you can get pretty quickly, and that usually comes with high interest rates. They are not much different than unsecured same-day loans, except that you can use your mobile phone to get them. You just send a text message to the lender, and then wait for a reply and for further instructions on how to get the money. Sure, there are still a few procedures you’ll need to follow, such as signing the loan contract and similar things, but the bottom line is that this makes things much easier.

Can You Get An Sms Lån In Norway?

Even though SMS lån options make things much easier in theory, you will want to figure out precisely how that works in Norway, so that you can understand the practice and decide if this is something you should do. Well, there are some quite significant things you should know when it comes to the actual practice of getting an SMS loan in Norway. To put it simply, things aren’t as easy as advertised.

Let me elaborate on that. When this idea first came to life, lenders advertised it as an opportunity for people to get a small, short-term loan pretty much immediately after sending a text message to a bank. Nevertheless, practice showed that things are a bit more complicated than that. The actual process of getting an SMS lån in Norway was more extensive than advertised. You still had to sign a lån agreement, and the agreement was usually sent by e-mail, meaning that you had to use your e-mail in addition to your texting app.

If you think about it for a moment, you will realize that this process is not much different than the process of getting a regular unsecured consumer loan in Norway. Nowadays, you can do all of this online, with the help of your smart device. You simply follow the application steps, provide the necessary documents, and then wait for the actual lån to be approved. Things are absolutely the same with SMS loans. It’s just that, everything sound much better when you say that you can get a loan with a couple of text messages on your phone.

What does all of this precisely mean, then? Well, let me put it this way. The SMS lån is still talked about in Norway, but you could perhaps think of this as of a smart marketing term that lenders use for their regular consumer loan offers. Of course, we are talking about unsecured loans here, i.e. those that don’t require collateral, which is why the actual borrowing process is made simpler, and which is why advertisers can actually call these “SMS loans”. So, essentially, if you go for this option, you’ll simply be getting a quick, unsecured loan.

Should You Get It?

There is no doubt in my mind that you now understand SMS loans better. Even so, there is still one question that you probably don’t know the answer to right now. In short, you are wondering if you should actually get an SMS lån in Norway. You know how it all works, and you understand the advantages, but you are not quite certain if this is the best solution for you. Well, that depends on various different things, including your general financial situation, but you definitely need to know a few significant things about this option before you choose whether to use it.

First and foremost, the fact that this lån is unsecured means that you won’t need to provide any of your assets as collateral, which is certainly a great thing. There is, however, a catch here. Given that there is no collateral, lenders have had to find a different way to protect themselves. And, they have chosen to offer higher interest rates, meaning that you can expect these types of loans to be quite expensive. Even though these can get quite expensive, they can still be the best solution for certain individuals and in certain situations, such as when you don’t have quite a great credit score and when you are in need of quick money.

How To Do It Correctly?

Given that you now understand how these loans work and when you should get them in Norway, the only thing left to do is help you figure out how to actually go through the process correctly. Obviously, the most significant thing to do is find a trusted lender to cooperate with, because you don’t want to risk getting tricked into agreeing on poor borrowing terms, as those will come back to bite you in the… well, you get it. Thus, take absolutely all the time you need to find the best lenders.

When you do that, the rest of the process will be pretty easy. You will just need to send a text message, or an e-mail if that’s what you prefer, and follow the rest of the steps that the lender will inform you about. After you go through all of the steps, you’ll just have to wait for a while to get approved for your SMS lån.