We compare prices on SMS loans

For a loan of any type search, you should always compare the prices between different lenders. It can often distinguish more than one might think in advance. This is something that is especially true for those who are considering seeking an SMS loan (micro loan). It is not uncommon for the cost to be double that of the more expensive mortgage institutions compared to the cheapest ones.

Money that you can use for much better things than paying to lenders who charge high prices for an SMS loan. Therefore, spend a little extra time comparing the different lenders as this can save you a lot of money.

SMS loans are a micro loan


Here we are currently talking about SMS loan which is a loan that is sought using the mobile phone. But unfortunately it is common in the media to call all micro loans for SMS loans which is not true. All lenders offer their customers to apply for loans via the Internet, but not everyone lends out via mobile.

This means that you will have fewer options if it is really an SMS loan that you are looking for. If the way to apply is not the most important thing for you, our tip is that you instead go to our section where we talk about micro loans. There you will find more options simply giving you more opportunities to pay the best price.

What to Consider When Comparing SMS Loans

If it is an SMS loan that you want to apply for, there are a number of things to consider before submitting any application to a lender. We will go through some of these here.


Borrowing money involves costs and these are relatively high for SMS loans and other micro loans. Therefore, consider carefully if it is worth the cost that comes. You should also think about whether you can afford to borrow the money or not. Should you be doubtful, it is generally not a good idea to borrow.


Micro loans are, as the name implies, small loans and they are also loans that will be repaid after only a short term. From the beginning, this maturity was usually 30 days regardless of the loan. This has now changed a little so that there are more options for you who want to borrow money. For example, some loan institutions that offer larger loans often have a maturity of 60 days. In others, you have the opportunity to extend the loans or choose longer or shorter maturities from the beginning.

You can expect that a longer maturity means a higher total cost for the loan but instead it has a longer monthly cost.

application Cost

Some lenders use an application fee while others do not. One thing to keep in mind is that this is a cost that you have to pay regardless of whether you are approved for a loan or not. The fee is often charged directly to the telephone bill.

It does not have to be more expensive to borrow from these lenders as the total cost does not have to be higher. For example, in our site comparisons we have always included these fees. However, it becomes expensive if you are not approved. If they do not accept your application, you have basically thrown money into the lake. If you are therefore unsure whether you have a sufficiently strong financial position for the lender to want to lend you money, you should definitely consider choosing a lender that does not charge any application fee.


Since you are allowed to make a tax deduction of 30% of the interest cost, it is better to borrow from someone who charges a larger interest than with someone who charges a larger fee if the total amount is similar. A loan that has an interest cost of say USD 400 can be deducted USD 120 for.

Just remember that you have to pay back the entire amount to the lender and this includes what you can later deduct. This deduction is made in the tax return and you will get the money back from the tax authorities later.

Where can you find comparisons?

As I said, it is important to compare prices before applying for any loan and fortunately there are several places to do this. Here on the site you will find comparisons of most lenders currently on the market. Below we have compared what it costs to borrow just USD 3,000. But we also have a whole department where we compare SMS loans and where you can find price information for most loan amounts.

Then of course you have other sites on the web that you can use to find the best price. One such site is Sweden’s credit. There you will quickly find what it costs to borrow from someone. Furthermore, you will also find the basic conditions that the lender sets.