Instant loans
- A great solution when money is needed right away
- Financing for unforeseen expenses
- The application is simple, you will receive confirmation within minutes
- Equal monthly payments on a specific date
How to get a loan?
To get a loan, you must initially compare loan offers, choose the most suitable option and click the "Receive a loan" button!
Make an application on the lender's website, specifying the amount of loan you want, and specifying your personal data!
After submitting the application, you will receive a response. Usually lenders give an answer by sending an SMS message or letter to your email or contacting you by calling your contact number.
If the decision is positive, sign the contract!
After signing the contract, receive money in your bank account within 15 minutes - 1 business day!
Requirements for borrowers and general conditions
To get a loan, you need:
- Mobile phone number and email
- Sri Lankan citizenship
- Government-issued identity card (NIC)
- Age from 20 years
- Bank account in one of the Sri Lankan banks
Borrow responsibly
Before you borrow money, think about whether you will be able to pay it back!
Before signing the contract, carefully read all the terms of the contract, paying special attention to the repayment period information, interest rates, total repayment amount and late payment interest.
Plan your budget so that loan repayment does not cause any problems!
Penalty or renewal policy information
If the loan amount is not repaid within the specified time, the lender may demand a penalty fee for each day of delay. If the repayment is delayed for a longer period of time, without an agreement with the lender, the lender is unilaterally entitled to transfer the debt collection to third-party companies.
Late payments reduce your chances of getting a loan in the future. Lenders have the right to ask you to pay penalty interest for late payment. Borrowers who do not repay the loan correctly lose the opportunity to receive discounts in the next application.
Paying off your loan on time contributes to a good credit score, which increases your chances of getting better loan terms in the future.
Annual Percentage Rate (APR)
The annual percentage rate is the total cost of the loan, expressed as a percentage. The calculation of the annual percentage rate does not include the costs associated with non-fulfillment of the obligations specified in the loan agreement.
Maximum percentage interest rate (APR): 16%. Loan term: from 62 days to 12 months. Calculation example (representative example): Loan of RS 50 000 for 6 months, monthly payment RS 8 948, total amount RS 53 688, annual percentage rate APR 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.
Loans15.com does not issue loans and is not a lender. Loans15.com provides consumers with free information on the special terms of a lender's loan agreement and other relevant information. On the website, the peer-to-peer lenders have a special license to provide the consumer credit service.