Everything You Need to Know About Instant Cash Loans Online in Sri Lanka 2022

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With the global economy slowly but surely heading to shambles, financial concerns have drastically risen in Sri Lanka. Income is limited and expenses are higher than ever, what with the prices of goods skyrocketing in recent times. People with outstanding loans are finding it difficult to repay them while the rest of the country are struggling to simply make ends meet. If you’ve ever found yourself in a financial quandary, you would understand the feeling of helplessness that comes with having limited ways of getting out of such a situation. Apart from borrowing from a friend or getting a bank loan, there are very few options available to Sri Lankans when you need to get an instant cash loan . Even so, bank loans also take time making it the worst type of loan for instant cash, and the question of getting approved for a loan is ever-present, while very few of us have close enough friends or family who have enough money to lend us while being willing to do so. Due to the demand for an easy way to borrow cash being higher than ever, a new type of financial service has been taking the country by storm as of late: Fast Instant Cash Loans.

What is an Instant Cash Loan?

An instant cash loan is a money lending facility where customers can request to borrow money and receive the cash almost immediately. Instant cash loans in Sri Lanka have become exceedingly popular during the last couple of years. Initially offered by smaller private financial money lending companies, now larger commercial banks have also started offering loans for instant cash. The unique feature of instant cash loans is their speed and convenience, making them the best solution when someone needs urgent instant cash loans.

Main benefits of instant cash loans

Instant cash loans in Sri Lanka are one of the most popular financing instruments for a major market segment. Apart from their unmatchable speed, instant cash loans have a plethora of benefits that make them one of the most lucrative new services offered by finance companies.


As the name itself signifies, instant cash loans are one of the quickest ways you can borrow money from a legitimate money lender. With an extremely easy application process and user-friendly platform, submitting your loan request takes just a few minutes. Approval (or rejection) is done purely looking at your credit report and relationship with the lender so it takes just a few minutes. Following approval, you will most likely have the cash deposited in your bank account in as little as thirty minutes. No other money lending mechanism can match this level of speed.


When people think about borrowing money from a money lender, the thought itself is tiring. Financial matters have generally been known as one of the most inconvenient transactions, requiring a ton of documents and multiple visits. Instant cash lenders have completely turned this around by offering instant cash loans online, where customers can simply apply through the website or mobile app and get instant cash. This means that you can apply for (and receive) an instant cash loan online at any time of day, without even having to leave your home.


Instant cash lenders do not require much of the documentation that commercial banks do; this means no more letters from employers, salary slips or educational certificates. You can now apply for an instant cash loan in Sri Lanka with simply your past credit history. Unless you possess a remarkably poor credit history, you will most likely be approved for an instant cash loan online. Moreover, an abysmal credit history can also be overlooked if you have a somewhat good track record in your past dealings with the instant cash lender. This makes instant cash loans a very reliable source of money when you are in a tight spot.


Due to advanced technological innovations in the world of Fintech, instant cash loans online have some of the best user interfaces in their online platforms. Most customers - even first-time borrowers or elderly people - will most likely be able to navigate the website or mobile app with ease due to the step-by-step process. Very few documents are required (often just a photo of yourself and your National Identity Card) and best instant cash loan apps are available in multiple languages with instructions every step of the way.

Short Term

Unlike traditional bank loans that not only take weeks to process and have a minimum repayment period of at least six month, instant cash loans in Sri Lanka have repayment periods starting from just a few weeks. These short term instant cash loans are ideal to sort out your dire financial need while also ensuring that you get out of debt in as short a time period as possible.

Types of instant cash loans

People utilise loans for instant cash to finance many of their wants and needs. Thus, instant cash lenders offer a variety of instant cash loans for various purposes.

Salary Advances

Salary advances are one of the most popular types of instant cash loans online in Sri Lanka. Everyone knows the feeling of running out of money just a few days prior to payday. A short term instant cash loan is ideal to finance your needs during the days leading up to your salary date, which you will promptly settle once you get your salary.

Medical Loans

A medical emergency is an instance where you would need a large sum of cash urgently and occurs at any time and place. When you need instant cash to settle hospital bills, you can apply for and receive money in your account in as little as thirty minutes from anywhere around the country, and at any time of day.

Student Loans

Sri Lanka is a country where you need higher education to improve your life, with better jobs and career prospects going to the educationally-qualified. With education having become a legitimate industry in Sri Lanka, instant cash loans for students have become popular to help parents or self-funding learners to pay their tuition or exam fees on time.

Business Loans

Almost all entrepreneurs will have to fight many battles with banks to receive funding to manage or expand their business. Banks are notoriously tight-fisted when it comes to business loans. Due to this, most entrepreneurs resort to loans for instant cash to finance their business ventures, be it as working capital or funding business expansion.

Utility Bill Loans

Utility bills are one of the most critical expenses yet these remain the ones that most people tend to neglect paying on time or in full. Once you receive the red notice of service disconnection, you would need to rush to settle the minimum amount to avoid a major inconvenience. Instant cash lenders now offer utility bill loans for this very purpose.

Personal Loans

You can now also apply for personal loans through instant cash loans online in Sri Lanka, to finance any number of your wants and needs. Instant personal loans can be used for critical household repair, debt settlement, a once-in-a-lifetime holiday and literally anything else which you need to get instant cash for.

Do you need instant cash loans?

Even though instant cash loans online in Sri Lanka have a number of irresistible benefits, it is highly advisable that you only opt for them if your requirement meets all of the following criteria:

Urgent: if you need to get instant cash in one day (or less), this type of loan is ideal as almost no other money lending facility can match its speed. If you have a few weeks to gather the money, consider all your other borrowing options and pick the most suitable.

Critical: instant cash loans in Sri Lanka often come with high interest rates and other associated fees (service charges, late payment fees etc.) so unless your requirement is absolutely crucial, it does not justify the overall cost of an instant cash loan online.

No other option: keep in mind that a loan for instant cash should not be your go-to choice whenever you are short of cash. You always have other options as well, ranging from credit cards and overdrafts to borrowing from friends and family.

How can I get an instant cash loan in Sri Lanka?

Absolutely anyone can apply for an instant cash loan in Sri Lanka. Most instant cash lenders take on the burden of debt repayment themselves (hence why the associated fees tend to be higher) which means that you don’t need to provide details of your income or any assets as collateral. You can simply select your vendor, register and apply. If you get approved, you will most likely receive your cash within the day.

(Note: you would need to be of legal age and have a national identity card, bank account and telephone number in order to register)

What can I spend instant cash funding on?

You are free to use your instant cash to finance any number of things. Some of the things people take out instant cash loans for are:

  • Medical emergencies, hospital bills and laboratory testing costs
  • Educational costs like school fees, college tuition, textbooks etc.
  • Holidays and vacations
  • Weddings
  • House purchase, construction, renovation or repairs
  • Vehicle purchase
  • Debt settlement

Features and benefits of instant cash loans from Oncredit

OnCredit.lk is one of the most preferred instant cash lenders in Sri Lanka. Having entered the local market just a few years ago, OnCredit.lk has quickly amassed a very loyal customer base. Some of the unique features and benefits of the instant cash loans provided by OnCredit that set it apart from the rest of the playing field are:

Fastest instant cash loan: due to its streamlined approval process, user-friendly digital platform and minimal document requirement, OnCredit is one of the few instant cash lenders that can issue an instant cash loan in 1 hour in Sri Lanka, or less.

Best instant cash loan app: OnCredit’s mobile app is one of the best instant cash loan apps available in the market. Offered in multiple languages, the app is also compatible Android, with a Huawei version out as well.

Extremely private and secure: OnCredit has invested heavily in data protection mechanisms to guarantee their customers’ personal and financial details are kept safe and secure from hackers or data leaks.

The introduction of instant cash loans online in Sri Lanka has benefited countless people around the country, from saving homes and livelihoods to improving their quality of life. Now anyone who needs instant cash has a number of instant cash lenders to select the best from with minimal hassle and maximum convenience.