SuperSim loan with cell phone guarantee: advantages and disadvantages

A new loan on the market is catching the attention of those who need quick cash: the SuperSim cell phone secured loan. 

With the aim of providing simplified solutions, the SuperSim loan is online and promises instant approval for people who meet the prerequisites. 

One of its differentiators is offering a cell phone warranty.

Unlike having to put up a car or house as collateral, a cell phone is much more accessible and something most people have today, making this type of loan suitable for everyone. 

How to apply for a SuperSim loan?

The online personal loan SuperSim It is a line of credit in which the entire process is done online, in an easy way. 

Requirements for taking out a loan with a cell phone guarantee

Therefore, the person interested in taking out the loan must meet the following prerequisites:

• Be over 18 years of age
• Agree to the terms of the contract, online, and sign
• Submit proof of income
• Own an Android phone to qualify for the phone warranty
• Make this request online, at website from SuperSim

Once these requirements are met, the next steps are also simple. 

Interested parties need to download the SuperSim app and enter the amount and number of installments they wish to pay. They then provide their personal information, along with all necessary supporting documents. 

To confirm your interest, you must read the terms and conditions and confirm by signing online. 

Next, you will be asked to provide proof of income, which can be done automatically or manually. 

According to the website, when proof of income is done automatically, the applicant has priority in service.

Finally, the application configuration is very important because it is directly linked to the cell phone warranty. 

See more about this guarantee in the next topic. 

What does the SuperSim loan cell phone guarantee mean?

To simplify access to online personal loans, SuperSim offers applicants the option to use their cell phone as collateral to guarantee payment. 

Basically, it works the same way as the loan secured by property or car, however, with a more common item that most people have, an Android smartphone. 

And, just like with loans secured by other assets, when the applicant puts their own cell phone as collateral and assigns the application, In case of default, the device is automatically locked, allowing only emergency calls. 

Once the amount is paid, the phone is unlocked and returns to normal. 

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Advantages of the SuperSim loan

Some of the advantages of taking out a loan SuperSim they are:

Available for those with bad credit

One of its distinguishing features is offering loans even to those with outstanding CPF debts, with the goal of financial inclusion. 

So, if you have a bad credit history, SuperSim is a viable option. Credit analysis is required, but having a negative credit history isn't one of the requirements that will prevent approval. 

Financial inclusion is involved in this process. 

There is no advance deposit

On its website, SuperSim makes it very clear that its online personal loan is completely transparent and that the institution will never contact you asking for any advance deposit. 

So, in fact, it is a serious company that seeks to offer inclusive lines of credit. 

Contact 100% digital

Online lending, in general, is very simple and provides quick responses, unlike most traditional banks, which take longer to release the loan and funds. 

Furthermore, there is no need to wait in lines for service, as it is 100% digital. 

Possibility of taking out a loan without cell phone collateral

If a cell phone guarantee is not attractive to the applicant, it is possible to apply for a normal personal loan, without the need to leave anything as collateral. 

In this case, the guarantee is reversed at the interest that is calculated and presented to you at the time of approval. 

Disadvantages of the Super Sim loan

Available only for Android phones

At SuperSim, only Android phones are accepted as collateral, due to the app's compatibility with this operating system. 

So if the applicant has an iPhone, it will not be possible. 

Without collateral, it is common personal loan interest. 

The guarantee is one of the ways to reduce the interest rate, after all, there is something there that will prevent default. 

If this is not done with this cell phone guarantee, the interest is that of a common personal loan. 

Overall, there are many advantages, and the entire process from registration to release takes around 6 to 10 minutes, which is great for those looking for something quick and high-quality. 

Bonus tip: be careful when taking out a personal loan

Finally, it's always good to remember that before taking out any line of credit, it's important to carefully analyze the conditions to avoid future problems. 

Calculate your budget, as well as the interest rate. Also, consider whether this payment is truly necessary or can wait. 

A financial commitment to a bank is a very serious matter, and in this case, for example, no one wants to be left without the ability to use their cell phone because they have put the device up as collateral. 

Therefore, it is necessary to ensure that there will be no default and that the terms of the contract are compatible with your reality. 

Making a budget and analyzing the strengths and weaknesses of your financial health is crucial for a successful life, with the freedom to fulfill your desires. 

Don't ignore the importance of personal financial health!

Be cautious when taking out loans and be committed to honoring your commitments. 

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