The number of
loan applications is increasing. Many companies have been inspired by the
success of companies like Lending Club and Proper that have made a fortune by
offering personal loans. Some of these companies are good. However, as it
always happens, some are not good companies. In this report, we will look at
what you should look at when downloading and using an online loan app.
Check the Last
A good mobile
application should be updated regularly. Updates help these apps improve their
usage. They also help these apps to be more secure and remove bugs.
Fortunately, Android and iOS platforms tell people when the app was installed
last. As a user, you should always ensure that you check the last date of
update. If the app was updated lastly more than a year ago, you should avoid
it. An app that was lastly updated a long time ago could be a signal that the
company is going through a challenging period.
thing about Google and Apple is that they allow users to leave a rating and a
review. App users are usually motivated to leave a review depending on their
experience. You should take time and read the reviews. There are a few things
to consider. If it’s a new app, read the reviews to see whether the reviewers are
doing it from the heart. This is because many new developers pay people to
leave positive reviews. Second, look at the number of people who are reviewing
the app and what they are writing. By checking these comments, you will be at a
better place to know more about the company.
apps should have a detailed terms and conditions. These conditions are
important because they tell you everything you need to know about the loan.
They will tell you about the data they have access to and what they do with it.
The terms and conditions will also tell you about the maximum durations of a
loan. Also, they will tell you about interest rates. You should spend time to
read the terms and conditions from a loan company like Tunaiku
You want a
mobile app that is easy to use and friendly to navigate. Therefore, when you
download the app, you need to look at how it looks. This is because you want an
app that tells you what you want to see. For example, you want an app that
shows you the amount of money you can borrow, your loan balance, how to borrow,
and how to pay.
There are other things that you should look at
when downloading a mobile loan application. For example, look at the
permissions you are giving it. Some apps are known to have access to your
mobile messages and contacts. This is risky, especially when the company is not
trustworthy. Also, consider whether the company has an office or local presence
in your country. This is because you want a company you can visit.