Are you in need of a small amount of money for a short period of time? Online loans Sri Lanka can be the perfect solution for your financial needs. loans are small, short-term loans that are typically used for emergencies or unexpected expenses. They are becoming increasingly popular in Sri Lanka due to their ease of access and quick approval process.
What are Online loans?
Online loans are small loans that are typically provided by non-bank lenders. These loans are designed to help individuals who need a small amount of money for a short period of time. The loan amount typically ranges from LKR 10,000 to LKR 50,000 and the repayment period is usually between 7 days to 3 months. The loan is repaid in full, along with interest, at the end of the repayment period.
Benefits of Online loans
Easy Application Process: Online loans have a simple and easy application process that can be completed from the comfort of your own home.
Quick Approval: Online loans are approved quickly, usually within a few hours, which means you can get the money you need fast.
No Collateral Required: loans do not require collateral, which means you do not need to provide any security to obtain the loan.
Flexible Repayment Options: Online loans offer flexible repayment options, which means you can choose a repayment period that suits your financial situation.
No Credit Check: Most online microloan lenders do not require a credit check, which means you can still obtain a loan even if you have a low credit score.
Popular non-bank organizations providing online loans in Sri Lanka
- OnCredit: OnCredit is a Sri Lankan microfinance institution that provides short-term loans to individuals and small businesses. The loans are usually approved within a few hours, and borrowers can use the money for any purpose.
- Robocash: Robocash is an online lender that operates in Sri Lanka and several other countries. The platform uses advanced algorithms to evaluate loan applications and provide quick access to funds. Borrowers can apply for loans up to LKR 100,000 and repay the amount over 15, 30, or 90 days.
- CashWagon: Cash Wagon is a microfinance institution that provides fast and convenient loans to individuals and small businesses in Sri Lanka. The company offers flexible repayment terms and competitive interest rates. Borrowers can apply for loans online or at one of the Cash Wagon branches.
- CashX: CashX is a mobile-based lender that offers short-term loans to individuals in Sri Lanka. The loans are usually approved within a few hours, and borrowers can receive the funds directly to their mobile wallet. The company provides loans up to LKR 25,000 with repayment terms ranging from 7 to 30 days.
- FastRupee: FastRupee is an online lender that provides personal loans to individuals in Sri Lanka. The company offers loans up to LKR 50,000 with repayment terms ranging from 7 to 30 days. Borrowers can apply for loans online and receive the funds directly to their bank account.
- LoanMe: LoanMe is a microfinance institution that provides personal loans to individuals in Sri Lanka. The company offers loans up to LKR 50,000 with repayment terms ranging from 7 to 30 days. Borrowers can apply for loans online or at one of the LoanMe branches.
- Lotus Loan: Lotus Loan is a microfinance institution that provides personal loans to individuals in Sri Lanka. The company offers loans up to LKR 50,000 with repayment terms ranging from 7 to 30 days. Borrowers can apply for loans online or at one of the Lotus Loan branches.
How to Apply for Online loans in Sri Lanka
Applying for an online microloan in Sri Lanka is simple and easy. Here are the steps to follow:
- Choose a Lender: Research and choose a lender that offers loans in Sri Lanka.
- Check Eligibility Criteria: Check the lender’s eligibility criteria to ensure that you meet the requirements.
- Fill Out the Application Form: Complete the online application form with your personal and financial information.
- Provide Supporting Documents: Some lenders may require supporting documents such as a copy of your ID card or bank statement.
- Wait for Approval: The lender will review your application and notify you of the decision.
- Receive the Money: If approved, the money will be transferred to your bank account.
