For most people, applying for their first personal loan can be a major challenge, as many mistakes can be made when applying for a loan for the first time. We will briefly cover everything you need to know about short-term loans.
It is important to understand that taking out a loan will entail long-term financial obligations between you and the lending company. This means that your life for the next 1-2 years will revolve around paying off the loan. This means that you will not be able to quit your job, even if you do not like it, you will not be able to fulfill your dream and open your own business, because you need a stable source of income to pay off the loan. And the current reality is that there is no guarantee that you can lose your job in a month. Did anyone foresee that the Covid-19 pandemic would devastate the world and wipe out thousands of jobs and industries within months? Therefore, you should always be ready for any surprises that fate will give you and building your life on a foundation built on long-term loans is a very risky step.
Short Term Loans Online - Best Lenders of Sri Lanka
Lotus Loan to Rs.40 000
|Loan Amount||10000 - 40000 Rs.|
|Loan period||10 days to 122 days|
|Interest Rate||0.01 to 1% per day (max APR 12%)|
RoboCash to Rs.25 000
|Loan Amount||5000 - 25000 Rs.|
|Loan period||120 days to 180 days|
|Interest Rate||0.01 to 1% per day (max APR 180%)|
FastRupee to Rs.50 000
|Loan Amount||3000 - 50000 Rs.|
|Loan period||1 days to 180 days|
|Interest Rate||0.01 to 1% per day (max APR 365%)|
What is the loan term?
- Minimum loan term: 122 days
- Maximum loan term: 122 days for first loan
- Maximum loan term: 182 days for repeat loan
The loan is calculated as follows
- Loan amount: RS 30.000
- Loan period: 122 days
- Consulting fee: RS 3.600
- Service fee: RS 13.920
- Interest rate (12% / year) : RS 754
- Total payment: RS 48.274
Am I eligible for a loan?
- A citizen of Sri Lanka
- Residing in Sri Lanka
- Between the ages of 20 to 65 years old
- Currently employed or generating a steady income
Now, let's say you're in financial trouble and need cash urgently to solve all your problems: day-to-day personal expenses, urgent medical bills, utility bills, tuition fees, and other expenses. It's okay to borrow money from friends and family, but not everyone will be able to help because they won't find the right amount of money for you. But maybe you have already borrowed money and therefore you are ashamed to contact them again with requests for money? What to do in this situation if you need to borrow money, but you do not want to take on long-term obligations?
Short Term Loans
In such situations, short term loans are your best bet. You receive short-term loans from independent lending companies that you can repay (with a service fee) in regular fixed payments over several months. Our site presents a large selection of credit companies where you can get a loan. And don't forget how payday loans work in Sri Lanka. You will need to compare loan terms, then choose the best offer and apply online. After 10-15 minutes you will be able to receive a decision on your application. If the decision on the loan is positive, you will receive money in your bank account. Unlike traditional bank loans, which have a maturity of at least a year, with short-term loans, you can fully pay off your debts in a few months.
All of our partners such as: Lotus Loan, Fast Rupee, OnCredit and others offer short term personal loans online where clients can complete the entire application and approval process using their mobile phone from the comfort of their home. This innovative use of technology has enabled people across the country to access the best short term loans in Sri Lanka with the help of Gost Finance.
Benefits of Short Loans in Sri Lanka
There are numerous advantages of online short term loans or short term loans, in addition to a short repayment period. The name itself - a short-term loan means that you can get a reasonable amount of cash in a very short period of time. Usually it does not exceed one day. The fact that our site offers short-term loans online, rest assured that your privacy is fully guaranteed and no one will even know that you are facing a financial stumbling block and you need to borrow money. Since you are dealing with an independent lender, you do not need to inconvenience your loved ones.
If you ever find yourself in a situation where you need to take out a short term loan, just visit our website Gost Finance and get access to the best short term loans in Sri Lanka.
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FAQ - Short Term Loans Online