Downside of SMS loans are primarily cost, safety, and ironically enough speed. It is costly to take a SMS loan, you can not hide from. SMS loans have also received much criticism in the media to be uncertain and easy for fraudsters to exploit. Although the speed, flexibility and simplicity has been criticized by many when you think that makes it easier for financially indebted to borrow even more money and get caught up in deeper debt.

If you are looking to take SMS loans, you should take it to solve an unexpected debt, or buy something unexpected and know that you can afford to repay the money within the time the loan is taken on. SMS loans should not be used to solve the persistent costs.