Can iPhone fetch You a Loan?

Bid adieu to those days when you used to stand before the bank with filled loan application or sit in front of your PC in search of an online provider to request for a loan. Because, now the iPhone at your hand can do this. Amazed??? Of Course, the iPhone can fetch you a loan. All you need is an iPhone with a Wonga Credit App installed in it.

Wonga, a London based online provider of short term loans, has launched this new app for iPhones few days back. With Wonga iPhone app, users can borrow between £1 and £1000, and the money will be debited in their bank account, almost within 15 minutes. Isn’t this awesome? This service can definitely bless you, especially during the emergencies and unexpected situations that wreck your neck.

And, the procedure? As simple as possible. Just use your fingertip to slide through Wonga’s slider on your mobile phone. Choose the amount you need to borrow. Then decide how long you want it for. The total amount, including the interest rate you need to repay will be displayed on the screen. A click on the ‘apply’ button can let you through. The acceptance or refusal of loan is decided within seconds here.

Through this application, Wonga has not only increased the flexibility, but also has changed our trendy iPhone into an instant cash machine. It is definitely a tempting service, but the concerns over the interest rate have to be considered before you jump into. It is estimated that a £1000 loan can turn into £2861, within a short span of six months. Wonga claims this service as an emergency one, which the customers can repay when they receive their salary. Those who cannot repay the loan, can consider for an affordable repayment plan from the company. Both existing and first-time users can avail this service.

Apple iPhone users can download this application, for free of cost from Apple Store. Currently, Wonga’s iPhone App is exclusive to UK customers. No information is available yet, on its release in other countries.

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