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Address: Sri Lanka
Phone number: -
E-mail: [email protected]
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: Sri Lanka
Phone number: -
E-mail: [email protected]
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: Sri Lanka
Phone number: -
E-mail: [email protected]
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: [email protected]
Max APR: 183.96%
Term: 3 months - 6 months
Loan of RS 8 000 for 3 months, monthly payment RS 3 866.37, total amount RS 11 600, annual percentage rate APR 183.96%.
Address: 106, Dharmapala Mawatha, Colombo 07
Phone number: +94 117 811 555
E-mail: [email protected]
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 47, Alexandra Place, Colombo 7, Sri Lanka
Phone number: +94 117 750 300
E-mail: [email protected]
Max APR: 15%
Term: 3 months - 6 months
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: [email protected]
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 25, Simon Hewavitharana Road, Colombo 3, Sri Lanka
Phone number: +94 114 279 800
E-mail: [email protected]
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%.
Address: 47 Alexandra Pl, Colombo 00700
Phone number: +94 117 474 111
E-mail: [email protected]
Max APR: 216.12%
Term: 62 days - 3 months
Loan of RS 5 000 for 3 months, monthly payment RS 1 650 total amount RS 9 950, annual percentage rate APR 216.12%.
Address: No. 341/5, M & M Center, Level 01, Kotte road, Rajagiriya
Phone number: +94 117 358 358
E-mail: [email protected]
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%.
Top Loans in Sri Lanka
Sri Lanka's financial sector presents an array of loan products tailored to meet diverse financial needs. Whether you need to finance a home purchase, pay for education, or cover unexpected costs, options such as personal loans, home loans, and business loans are available. It's essential to understand each loan type, including the terms and interest rates, before making a commitment.
Find the Best Loan Offers with Loanstar.app
Loanstar.app makes it easy to find the most suitable loan by providing a streamlined comparison process. With real-time rate comparisons, easy-to-use tools, and expert advice, you can explore the best loan deals for your needs. Whether you’re a first-time borrower or have experience managing loans, Loanstar.app helps guide you through the decision-making process, ensuring you select the best financial solution.
Popular Loan Types in Sri Lanka
Sri Lanka offers a wide range of loans to cover various needs:
- Personal Loans: These loans are ideal for handling urgent expenses or making significant purchases.
- Home Loans: Offered by many leading banks with competitive interest rates, home loans help you purchase your dream home.
- Education Loans: Designed to help students finance their education, whether it’s at a local institution or abroad.
- Business Loans: These loans provide essential capital for entrepreneurs seeking to expand or launch their businesses.
Each loan type is structured to cater to specific financial objectives, ensuring there’s an option that aligns with your needs.
How to Choose the Right Loan
When selecting a loan, there are several important factors to consider:
- Interest Rates: Compare the rates from different lenders to ensure you choose the most affordable option.
- Repayment Terms: Choose a loan with a repayment period that matches your budget and repayment capacity.
- Eligibility Criteria: Ensure you meet the requirements to avoid rejection.
- Hidden Fees: Be mindful of any additional charges such as processing fees or prepayment penalties.
To make the selection process easier, tools like Loanstar.app can help you compare various options and find the best offers available.
Important Loan Terms and Conditions
When evaluating loans, it’s important to keep these aspects in mind:
- Loan Amount: Only borrow the amount you actually need to avoid unnecessary debt.
- APR (Annual Percentage Rate): This represents the total cost of the loan, including both interest and additional fees. In Sri Lanka, APRs can reach up to 365%.
- Repayment Period: Loan terms can range from as short as 62 days to up to 12 months, so choose a term that aligns with your repayment ability.
For example, if you take a loan of RS 50,000 for 6 months, your monthly payment would be approximately RS 8,948, with a total repayment amount of RS 53,688. The APR in this example would be 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.
Loanstar.app offers valuable insights and comparisons to help you make well-informed financial decisions. However, it's important to remember that we are not a bank or financial institution and do not provide loans ourselves. Our goal is to help you navigate Sri Lanka’s loan market with ease and confidence.
