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Address: Sri Lanka
Phone number: -
E-mail: info@soso.lk
Max APR: 365%
Term: 3 months - 1 year
Loan of Rs 50 000 for 6 months, monthly payment Rs 8 948, total amount Rs 53 688, annual percentage rate APR 15%.
Address: 321, Galle Road, Colombo 03
Phone number: +94 117 877 555
E-mail: info@loanme.lk
Max APR: 13.68%
Term: 3 months - 6 months
Loan of RS 25 000 for 6 months, monthly payment RS 6 750, total amount RS 40 500, annual percentage rate APR 13.68%.
Address: Sri Lanka
Phone number: -
E-mail: info@soscredit.lk
Max APR: 365%
Term: 3 months - 1 year
Loan of Rs 50 000 for 6 months, monthly payment Rs 8 948, total amount Rs 53 688, annual percentage rate APR 15%.
Address: No 47, Alexandra Place, Colombo 7, Sri Lanka
Phone number: +94 117 750 300
E-mail: info@fino.lk
Max APR: 15%
Term: 62 days - 1 year
Loan of RS 50 000 for 6 months, monthly payment RS 8 948, total amount RS 53 688, annual percentage rate APR 15%.
Address: 47 Alexandra Place, Colombo 7
Phone number: +94 114 411 122
E-mail: info@loanplus.lk
Max APR: 200.02%
Term: 62 days - 3 months
Loan of RS 10 000 for 3 months, monthly payment RS 6 633 total amount RS 19 900, annual percentage rate APR 198%.
Address: No. 341/5, M & M Center, Level 01, Kotte road, Rajagiriya
Phone number: +94 117 358 358
E-mail: info@monigo.lk
Max APR: 15%
Term: 62 days - 1 year
Loan of RS 50 000 for 6 months, monthly payment RS 8 948, total amount RS 53 688, annual percentage rate APR 15%.
Address: Sri Lanka
Phone number: -
E-mail: info@credify.lk
Max APR: 365%
Term: 3 months - 1 year
Loan of Rs 50 000 for 6 months, monthly payment Rs 8 948, total amount Rs 53 688, annual percentage rate APR 15%.
Address: 106, Dharmapala Mawatha, Colombo 07
Phone number: +94 117 811 555
E-mail: info@oncredit.lk
Max APR: 16%
Term: 4 months - 6 months
Loan of RS 5 000 for 3 months, monthly payment RS 2 867, total amount RS 8 601, annual percentage rate APR 16%.
Address: No 25, Simon Hewavitharana Road, Colombo 3, Sri Lanka
Phone number: +94 114 279 800
E-mail: help@ceyloan.lk
Max APR: 182.5%
Term: 3 months - 6 months
Loan of RS 5 000 for 3 months, monthly payment RS 2 425 total amount RS 7 275, annual percentage rate APR 182.5%.
Top Loans Online in Sri Lanka
Sri Lanka's financial landscape offers a wide variety of loan options to suit different needs. Whether you're looking to buy a home, fund your education, or manage short-term expenses, loans like personal loans, home loans, and business loans are widely available. It's important to understand the basics of each loan type, along with their interest rates, to make an informed decision.
Creditmix.app simplifies the loan selection process. With real-time comparisons, user-friendly tools, and expert insights, you can find the best loan offers that meet your needs. Whether you're a first-time borrower or an experienced one, Creditmix ensures a smooth and informed experience in securing the right loan.
Top Loan Options for Every Need
Sri Lanka’s loan market provides flexible options for borrowers:
- Personal Loans: Ideal for emergency expenses or large purchases.
- Home Loans: Offered by major banks with competitive rates for buying your dream home.
- Education Loans: Helping students fund their education, whether local or abroad.
- Business Loans: Providing entrepreneurs with the funds needed to grow their businesses.
Each loan type is designed to meet specific financial goals, ensuring that you can find the right option for your needs.
Tips for Choosing the Best Loan
When selecting a loan, consider these key factors:
- Interest Rates: Compare interest rates across lenders to ensure affordability.
- Repayment Terms: Choose a repayment period that suits your income and ability to pay.
- Eligibility Criteria: Review the requirements to avoid potential rejections.
- Hidden Charges: Be aware of any processing fees or prepayment penalties.
Do thorough research and use tools like Creditmix.app to quickly find the best loan offers available.
Loan Terms and Conditions
When choosing the right loan, keep these important factors in mind:
- Loan Amount: Borrow the amount that aligns with your financial needs.
- Annual Percentage Rate (APR): Consider the total cost of the loan, including interest and fees. In Sri Lanka, the maximum APR can be as high as 365%.
- Repayment Tenure: Choose a repayment period ranging from 62 days to 12 months, based on your ability to repay.
- Example Loan Costs: For a loan of RS 50,000 over 6 months, the monthly payment is RS 8,948, with a total repayment amount of RS 53,688. The Annual Percentage Rate (APR) in this example is 15%.
Additional Associated Fees
Many or all of the products we offer are from our partners, from whom we may receive commission. This may affect the placement of offers and whether a product is included in the comparison. However, this does not affect our ratings.
In addition to obvious costs like interest and repayments, there may be hidden fees that ultimately make a loan more expensive than it initially appears. These hidden costs are not always obvious and can take many forms.
One of the most common hidden costs is a processing fee. Some lenders charge a fee for reviewing a loan application, which is added to the loan amount and interest. While this practice is criticized and sometimes restricted by law in many countries, it is important to consider this when taking out a loan.
Insurance premiums, especially for residual liability insurance, are another issue often overlooked. These insurances are designed to protect both the borrower and the lender if the borrower is unable to service the loan for reasons such as illness or unemployment. However, the cost of such insurance can be high and may significantly increase the overall loan expenses.
If a borrower wishes to repay a loan early, prepayment penalties may apply. These fees are intended to compensate lenders for lost interest income.
Additionally, a special repayment fee may be charged. While some loan agreements offer the option of special repayments without any additional fees, other lenders may impose a charge.
The overall cost of a loan may also be affected by an adjustment to the interest rate on variable-rate loans. If the base interest rate increases, the cost of the loan will also rise.
Therefore, it is crucial for borrowers to carefully review all aspects of a loan agreement, considering not only the nominal interest rate but also any additional fees and charges, to get a true understanding of the total cost of the loan.
Creditmix.app offers valuable insights and comparisons to help you make informed financial decisions. However, it's important to note that we are not a finance organization or bank and we do not offer loans ourselves.
