The advantages of online loans in Sri Lanka

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The advantages of online loans in Sri Lanka

Unless you are living under a rock, you must have heard about online loans in Sri Lanka- which is getting extremely popular among people these days. 


Everyone comes across urgent situations in life, where you need to borrow money. And you need it fast. But applying and getting approved for a personal loan from a bank is a snail-slow process. Online loans give you the perfect solution to this, plus many more benefits. Here are 10 of them. 


1. 24/7 Service

Emergencies for money can arise even in the middle of the night. And you will have to wait till morning, even you are to borrow money from a relative or a friend. With online loan services, you can get your loan 24/7 without having to wait.


2. Apply from Anywhere

Unlike with other loaning options, you don’t have to go anywhere to ask for money or borrow money when you are applying for an online loan. No matter where you are in the world, you can get money to your bank account.


3. Minimal Documentation

The documentation for applying for a loan can be cumbersome and time-consuming. An online loan service only asks for you for basic documents such as identity proof, which you can submit online without having to fill pages and pages of documents. 


4. It’s all Online

Just as the name suggest, online loans happen 100% online. You don’t have to visit a bank or a branch or submit physical documents. Meaning online loans enable you to apply for your loans right from your computer or your phone.


5. Micro Loans

Going through the hassle with a bank to get a few thousands of a loan are not worth it. Thus, most of us turn towards a friend, family member or colleague for help although it makes us uncomfortable a little to ask for help. With an online loaning service in Sri Lanka, you can easily get small cash loans.  


6. Transparency

You are assured complete transparency throughout the service process at each step with an online loan service. No hidden fees or charges. Everything will be clearly communicating to you in terms of payment from the beginning. 



7. Quick and Easy

Apply for the loan right from your screen. Upload all the documents. Get approval within minutes and receive money directly to your bank account then and there. Online loans are simple and hassle-free. And on top of all, it’s fast. With OnCredit, it only takes 15 -30 minutes.

8. Faster Process

The approval process is long and complicated with traditional loans. However, there is no long waiting approval process when you are applying for an online loan. The application process only takes a couple of minutes and you can get approval on the same day. Meaning getting a loan is faster than ever before with quick online loan 


9. Flexible.

You will get more flexible options when you apply for a loan online that you would never get from a bank or any other traditional financial institute. You can easily apply for up to LKR 40000 with a quick online cash loan and set out your payment duration from 10 days to 30 days.


10. No Reason Needed

Whether it’s a medical emergency, family emergency or a personal requirement you don’t have to provide specific details on why you need the money as with traditional banks. Online loaning services in Sri Lanka never ask for such reasons enabling you to keep your privacy at its best. 


These are only 10 benefits that you can enjoy when you get your cash loan from an online loan provider which you never get from a bank or a lender. So why not trust a reputable online loaning service in Sri Lanka like OnCredit when you need money the next time.