Introduction to CashLoanLK

CashLoanLK is a distinguished entity in the financial landscape, and it’s imperative to clarify that we are not a financial institution, a lender, a loan broker, or the source of loans ourselves. Instead, we function as a pivotal advertising referral service, seamlessly connecting prospective borrowers to a network of highly qualified and reputable participating lenders.

These lenders have the capacity to offer loan amounts that range from a minimum of Rs. 2,000 to a maximum of Rs. 50,000. One of the most noteworthy aspects of our service is its fundamental nature – it comes to you completely free, devoid of any charges or fees.

cashx.lk

Loan type

Short term

For a period of

30 days

Rate ()

1.00% / day

Loan amount

40000 €

Approval in

5 minutes

First loan free

no

Get loan

lotus.loan

Loan type

Short term

For a period of

122 days

Rate (ARP)

12.00% / year

Loan amount

40000 $

Approval in

15 minutes

First loan free

no

Get loan

robocash.lk

Loan type

Short term

For a period of

28 days

Rate ()

0.04% / day

Loan amount

60000 $

Approval in

0 minutes

First loan free

yes

Get loan

Evaluating Trusted Lenders

CashLoanLK plays a pivotal role in facilitating a robust ecosystem where users can effortlessly evaluate and engage with trusted lenders in real-time. These lenders are known for offering a diverse portfolio of financial products designed to cater to varying needs and preferences. What truly sets these offerings apart is the flexibility they offer when it comes to repayment. Borrowers can choose repayment durations ranging from a minimum of 91 days to a maximum of 180 days, ensuring that they have the latitude to structure their loans in a way that suits their individual financial circumstances.

Moreover, one of the most appealing features of the loans available through CashLoanLK is the highly competitive Annual Percentage Rate (APR) interest rates, which start as low as 0% and can go up to a maximum of 427%. To provide a tangible example of this, let’s consider a hypothetical loan from “Lotus Loan.” If you were to borrow Rs. 30,000 from Lotus Loan with a loan period of 122 days, you would incur a consulting fee of Rs. 3,600, a service fee of Rs. 13,920, and an interest rate of 12% per annum, amounting to Rs. 754. Consequently, your total payment for this loan would be Rs. 48,274. It’s important to note that not all lenders within our network can extend loans up to the maximum amount of Rs. 50,000. Additionally, we must emphasize that while we facilitate the connection, we cannot guarantee the approval of your loan application, as our partner credit companies independently evaluate each application based on their own criteria and policies.

Compliance with Sri Lankan Laws

We take great pride in our commitment to adhering to the highest standards of legal and ethical conduct. All the credit companies featured on our platform are licensed and operate in strict accordance with the laws of Sri Lanka. To address any queries, concerns, or uncertainties you might have regarding your prospective loan, we strongly recommend reaching out directly to the specific credit company you’ve chosen. This direct communication ensures that you receive accurate and tailored information about your specific loan terms, including current rates, fees, renewal options, payment details, and the potential consequences associated with non-payment or missed payments.

Transparent Cost Information

At CashLoanLK, we prioritize transparency in every interaction. The exact cost associated with each loan is contingent on the individual application, and our commitment to transparency means that you will always receive comprehensive and precise information about the APR and all associated fees before you sign a loan agreement.

Principles of Responsible Lending

Before embarking on the journey of securing a loan or credit, it is of paramount importance to consider several fundamental principles of responsible lending. A loan should primarily serve a purpose that cannot be effectively financed through one’s own funds. Furthermore, the loan amount should be commensurate with one’s financial capacity and needs. Borrowers should steer clear of perceiving a loan as a casual means to bolster their family’s budget, as such an approach can inadvertently lead to a perilous cycle of debt. Instead, it is essential to view a loan as a significant financial obligation that affects the entire family. Clear communication within the family is crucial, with all members understanding the purpose, terms, and conditions of the loan, including commissions, interest charges, and additional fees. Each loan must be repaid in accordance with the stipulations laid out in the contract, without fail.

Late Repayment – Consequences

Should a borrower experience delays in repaying a portion of their loan, it is imperative to acknowledge the potential for additional costs and formal and legal ramifications. As per the terms of the credit agreement, lenders possess the prerogative to levy supplementary fees for sending reminders and demands for payment, engaging in debt collection activities, and charging interest on late payments. In addition to these financial repercussions, borrowers should be cognizant of the possibility that late repayment may be reported to credit reporting agencies, which could potentially hinder or even preclude their ability to secure loans in the future.

Consequences of Non-Payment

In the unfortunate event that a borrower is unable to meet their debt obligations, lenders retain the legal right to take proactive steps to recover the outstanding loan amount, coupled with any associated costs. One such recourse may involve submitting the delinquent loan for collection, which could entail further legal action.

Compliance with National Legislation on Loans

Quick cash loans, often referred to as non-bank loans, are provided within the legal framework of the Civil Code. Certain credit companies also adhere to the provisions of the Consumer Credit Act, which entails providing clients with an information form typically associated with consumer loans.

APRC and Commissions Related to the Provision of Credit

The Annual Percentage Rate of Charge (APRC) serves as a pivotal metric, offering borrowers insight into the relationship between their total costs and the loan amount they have received. The definition and methodology for calculating APRC are outlined in the Consumer Credit Act, which meticulously delineates the costs that should be factored into the rate calculation. Given that the calculation methodology is uniform across all cases, the APRC emerges as an objective and invaluable tool for comparing the myriad loan offers available in the market. When considering a quick loan application, borrowers should meticulously consider a range of costs, including but not limited to preparation fees, fees associated with extending the loan repayment period, insurance expenses, registration fees (typically a nominal sum for identity verification), and collection-related costs, such as those incurred for reminders.

Loan Extension Rules

To cater to the evolving financial circumstances of borrowers, many credit companies permit the submission of applications for extending the loan repayment period. Typically, this involves the completion of an application and the payment of an additional fee. Importantly, borrowers should submit requests for extending the repayment period well in advance of the loan’s due date.

Portal Activity

The CashLoanLK portal functions as a dynamic hub, meticulously curating a comprehensive rating of online loans. Our team of specialists has painstakingly compiled a repository of offerings from non-bank loan providers, meticulously outlining their key characteristics. This empowers users to conveniently and expeditiously identify a loan that aligns with their unique requirements and preferences, with the added advantage of easy access to the lender’s website. It is important to note that all the offers featured on our platform come from companies that rigorously adhere to the current legal framework. For more detailed insights into the operational guidelines of non-banking companies that extend loans, users can consult the website of the Financial Supervision Authority of Sri Lanka. Additionally, for a deeper understanding of our portal’s operations, we recommend a thorough review of our Regulations and Privacy Policy sections. These segments provide comprehensive insights into our operational framework and commitment to safeguarding your privacy.

In conclusion, CashLoanLK serves as a trusted bridge between borrowers and responsible lenders, offering a transparent and dependable platform for securing financial assistance. We prioritize responsible lending practices and the strict adherence to legal requirements, ensuring that users have access to the most reliable and accurate information to make informed decisions about their financial needs.