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SMS credit service is a way of drawing up quick loans. Banks do not offer such lending services. A few years ago, this technology was introduced by a lending company from Finland, and is now used by most non-bank lenders in Latvia.


The essence of SMS loan service

loan options without interest

The essence of this service is quite simple: the customer sends a text message and credit terms to the number indicated by the creditor, and the creditor transfers the money to the client’s account upon request. Everything you need to draw up such a credit is a client account on one of the creditors’ websites, an active mobile phone network connection, and 0.01 euros, which is usually due to the creditor to prove the authenticity of your bank account.


Non-bank lenders that offers SMS loan service

Non-bank lenders that offers SMS loan service

SMS loan service in Latvia is offered by few non-bank lenders: YY Finance, JJ Credit, KKK Bank, BBB Credits, and ITA Credit. All these lenders offer to apply for a loan in at least 2 ways – by filling in an application form on the company’s website and sending SMS after registration on the website. SMS credit facility is very convenient if you need to get a loan quickly in an emergency, but no internet is available. You can get money in your account for as long as 15-30 minutes when you take action.

Only 2 of the above-mentioned creditors are not members of the Latvian Non-Banking Lenders Association , which means that almost all of these credit issuers are responsible lenders and are trustworthy to their clients. Their members are committed to the principles of fair commercial practice and ready to inform consumers about responsible borrowing. Non-interest-bearing credit is a non-bank creditor offer that does not apply any interest or commissions on the loan for the first time. For example, if the size of the first loan is € 100, then the € 100 must also be repaid by the customer.


Loan Options

loan options without interest

The firstloan options without interest  from the above-mentioned lenders do not offer only TTY Lending and JJ Credit. The other lenders allow the client to apply for a credit via SMS and not to pay a commission for the first loan. To receive a loan from these lenders, you must register on the company’s website by filling in the registration form. After setting up an account, a creditor’s bank account must be credited with 0.01 euros to prove that the application contains the correct bank account. Then send a text message to a specific number. If the borrower meets all the conditions set by the creditor, the money will be transferred to the account in less than 60 minutes.




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