On this information site you will find a lot of articles about different types of loans. In this particular article we will take up a little more about mobile loans of USD 3,000. For example, we advise on various good links that you may benefit from and we also make a price comparison of a number of lenders offering these loans. Here we will not look directly at the type of loan itself, but rather what is special about this particular amount.
Mobile loan is a micro loan
The word micro-loan is a collective term for a few different types of smaller loans that can be searched. Then you usually call micro loans for slightly different things depending on the way you apply for the loan. A mobile loan is thus a micro-loan that is sought using the mobile phone. It is also common to use the word SMS loan to describe this form of loan, the word SMS loan is also often used a little incorrectly to describe all micro loans.
If you take into account that the application method differs from the other micro-loans, then there is no other difference between a mobile loan and a micro-loan. This means that you can borrow a smaller sum, often up to a maximum of USD 10,000. The loan should then be repaid quickly. Initially, almost all repayment periods were 30 days, but this has changed a little as the loans have become larger. Now it is possible to get maturities of up to 3 months. But this is mostly for those mobile loans that are larger than USD 3,000, so for this particular amount it is most common with 30 days maturity.
Borrowing this amount often costs from USD 400 onwards.
The maximum price is well above USD 400 which makes it very important to compare the prices from the different lenders. There are lenders who charge the double price and then it does not differ on the loan which makes it a waste of money.
Compare mobile loan of USD 3,000
Here on the site we have a whole department where we compare prices from different lending institutions. Of course, we also compare the prices for those who offer mobile loans of USD 3,000. The tip is also that you look into our micro loan comparison of USD 3000 as there are more lenders receiving applications directly on the web. An abbreviated comparison of micro loans can be found at the bottom of this article. Hopefully, these comparisons can help you firstly make a good decision whether to borrow money or not and then if you decide to do this find a lender with the lowest possible price.