For most people, taking their first personal loan is a scary endeavour as it entails taking on a massive long-term financial commitment. This might mean your life for the next 3-5 years has to revolve around paying off the loan - you might be unable to leave a job that you grow to hate but pays well or you might be hindered from following your dreams and starting your own business because you need a steady source of income to manage the loan repayments. Especially considering the volatility of today’s world, it is impossible to guarantee that you would even have your job in five years. Did anyone foresee a pandemic ravaging the world and wiping out thousands of jobs and industries within a matter of months? Similarly, you have to always be prepared for any eventuality and building your life on a foundation built with long-term loans is a very risky move.
But at the same time, hardly anyone has enough cash in hand to manage their daily expenses, especially when you factor in urgent medical bills or overdue payments (utility bills, school fees, seasonal expenses etc.). Borrowing from friends and family is acceptable if done once or twice, but it’s not possible to burden them with the incessant requests for money. So what is the answer when you need to borrow money but are unwilling to tie yourself down to a long-term commitment?
Short Term Loans
In these kinds of situations, short term loans are your best solution. You obtain short term loans from independent lending companies like OnCredit that you can pay back (with a service fee) with regular fixed payments over a few months. Unlike traditional bank loans where repayment stretches to at least a year, with short term loans you would be completely out of debt within a matter of months.
At OnCredit, we have taken short term loans a step further by shifting the entire process to a virtual platform. We offer short term personal loans online where customers can complete the entire application and approval process using their mobile phone without having to leave the house. This innovative use of technology has allowed people all around the country to access the best short term loans in Sri Lanka with OnCredit.
Benefits of Short Loans
There are numerous benefits of short loans online or short time loans, in addition to the short repayment period. The very nature of short time loans means that you can receive a reasonable amount of cash to your hand within a very short time period (usually 1-2 days maximum). The fact that we offer short loans online means that your privacy is absolutely guaranteed and no one will even know that you underwent a financial stumbling block and needed to borrow money. As you are dealing with an independent money lender, you do not have to inconvenience your loved ones in any way at all.
If you ever find yourself in a situation where you need to take out a short time loan, get in touch with OnCredit to gain access to the best short term loans in Sri Lanka.