Am I eligible for a loan?
You are eligible to apply for a loan if you are: ✅ A citizen of Sri Lanka; ✅ Residing in Sri Lanka; ✅ If you are above 20 years old; ✅ Anyone with a national identity card can apply for our loan.
How much does a loan cost?
You will see the total repayment amount of your loan in our credit calculator form before you apply.
Depending on the amount you wish to borrow and the loan tenure (please make sure you choose one that you are comfortable with), you will be charged interest, a service charge and a processing fee. We do not apply any other charges if you pay on time.
Check the total repayment amount of your loan before you apply, and only accept the loan if you are sure that you can pay it back on time.
Example of the repeat loan:
✅ Oncredit - You apply for Rs. 5,000.00 and pay in full after 121 days of using the loan. Monthly payment is 2,867/month. Total amount to be settled Rs. 8,600.00/-.
✅ Lotus Loan - You apply for Rs. 30,000.00 and pay in full after 122 days of using the loan. Monthly payment is 13,920/month. Total amount to be settled Rs. 48,000.00/-.
✅ Robocash - You apply for Rs. 50,000.00 and pay in full after 180 days of using the loan. Monthly payment is 8,948/month. Total amount to be settled Rs. 53,688.00/-.
✅ CashX - You apply for Rs. 5,000.00 and pay in full after 10 days of using the loan. Monthly payment is 750/month. Total amount to be settled Rs. 5,750.00/-.
✅ Loanme - You apply for Rs. 30,000.00 and pay in full after 180 days of using the loan. Monthly payment is 6,750/month. Total amount to be settled Rs. 40,500.00/-.
Consequences of non-payment of the loan:
If the borrower does not pay the credit institution the loan amount and interest for using the loan within the agreed period, the credit institution charges a penalty for late payment of the loan. Usually, credit organizations provide an additional 3 business days so that the borrower can make the next payment, or pay the loan amount in full, in case of an unforeseen delay associated with a non-cash transfer of funds. If the credit institution does not receive the payment stipulated in the contract on time, it contacts the creditor and reminds of the consequences of non-payment. If it is not possible to contact the lender for a long time and payments on the loan are not received, the credit institution will charge a fine, the amount of which is usually 0.1% of the loan amount, the exact amount of late penalties should be clarified when signing an agreement for the provision of credit services.
It should be remembered that in case of non-compliance with the terms of repayment of the loan, data on the debt can be transferred to the register of debtors and further to collection organizations. It is strongly recommended to make payments on time, in case of unforeseen situations related to making payments, immediately contact the credit institution that provided the loan. You can find out about the terms of making payments when signing an agreement for the provision of credit services in each specific organization. If the loan is repaid on time (or ahead of schedule, if provided by the agreement), you form a positive credit history for yourself, which will help you in the future when obtaining loans for larger amounts. The site does not provide financial services and does not charge money for the information provided.
Information about the Non-Banking Micro Financial Institutions
✅ Oncredit - "OnCredit (Private) Limited" | phone: +94117821444 | e-mail: info@oncredit.lk | address: No. 106, Dharmapala Mawatha, Colombo 07, Sri Lanka.
✅ Lotus Loan - "Zephyr Solutions (PVT) LTD" | phone: +94117811555 | e-mail: info@lotus.loan | address: 7, 1/1 Cotta Terrace, Colombo 00800.
✅ Robocash - "Robocash LK SERVICES (PVT) LTD" | phone: +94112208220 | e-mail: support@robocash.lk | address: No. 04 Geethanjalee Place, Level 4, Colombo 03.
✅ CashX - "AIS IT Consulting Services (Private) Limited" | phone: +94117474111 | e-mail: info@cashx.lk | address: 228 Galle Road, Bambalapitiya, Colombo 04.
✅ Loanme - "Fintech Software Solutions (PVT) LTD" | phone: +94117877555 | e-mail: info@loanme.lk | address: #321, Galle Road, Colombo 03.
