The term SMS loan comes from before smartphones came on the market. The concept covers both loans that are admitted via SMS and loans that have been taken over the Internet via the mobile phone. The traditional SMS loan no longer exists. Firstly, the security of this loan method was not good enough and most Danes now have smartphones.

During the SMS loan’s glory period, few people had access to the Internet. To borrow via an SMS message was therefore a quick and easy way to borrow money if you did not want to borrow in his bank.
Many do not want to involve the bank for a loan of DKK 5-10,000. Therefore, the SMS loan was / was popular in large parts of the 1990s.

Although the traditional SMS loan no longer exists, the concept has been well received. There are still many Googlers “loans via SMS” and therefore there are many providers who still offer these loans – just these SMS loans are no longer recorded via an SMS message, but over the Internet via a smartphone, tablet or PC.

While in the 1990s one could only borrow up to a few thousand kroner via the SMS loan, today one can borrow up to several hundred thousand DKK. More established banks and loan providers still offer larger loans, even though they are now admitted through the Internet.


Anyone over the age of 18 can take out a SMS loan. However, not all providers of loans lend to such young people. Some loan providers offer smaller loans for 18-year-olds and 19-year-olds while 20-year-olds and over can borrow a larger amount.

In addition to being over 18, the providers make different demands on the borrower. To get a SMS loan, you must at least:

  • Have an active email address.
  • Have a Danish phone number.
  • Have a Danish bank account.
  • Not registered in Experian (RKI) or Debtor Registry.

Requirements that most Danes can meet.