Loan Plus

loanplus logo
Total score
5/5
  • Term new loan: 30 days
  • Amount: 5K-40K
  • Interest rate: 12%
Customer Experience
Great 90%
Bad 10%

The service “Loan Online” allows you to quickly and comfortably get the required amount on your card in the shortest possible time. Money is issued without collateral and a guarantor. If the lending company approves the application, the borrower can use the received amount for the intended purpose in a few minutes without reporting to anyone on what the funds were spent. This way, you can pay for medical treatment, buy education at a reduced price, purchase a hot trip, pay for a house, or make another important payment.

Loan Plus lk gives loans online even to customers without official employment and with a bad credit history. The decision is made in just 10 minutes within a day. The service works around the clock, without lunch breaks and weekends, so you can solve your financial problem at any time of day and night. You can register and apply on the website. Calling back by phone and getting the necessary information is also possible. Service managers will decide on the loan and send you the funds to the specified details.

Loanplus service understands clients’ problems and offers simple and quick solutions to help them in difficult situations. The platform is one of the top providers of online loans in Sri Lanka and helps users achieve their goals without the stress of complicated bureaucratic procedures and paperwork. Anyone residing in Colombo, Dehiwala, Kandy, Kotte, Matale, Vavuniya, Ratnapura, etc., can get the money. The virtual lender is open to all residents of the island nation, no matter the region where the borrower is located.

What information is available on the Loan Plus website?

The company’s simple and intuitive website provides detailed information for customers to understand how things work here quickly. It is also recommended to study the FAQ section to automatically remove half of the questions that arise at the start. It is especially relevant for those who take an online loan for the first time.

You will also find the basic requirements for the borrower, loan terms and conditions, a form for calculating the loan, and term and monthly amounts to be paid. The contract template, online application form, and tips for easy completion will also be available to you. Moreover, you can get acquainted with the advantages of lending on this service and the consequences of late payment. Contacts for communication with the company’s managers are also available on the site, so you can contact them anytime and get answers to all your questions.

You determine the lending terms at the stage of filling out the form. You should specify the required loan terms and amount in the form. However, it is necessary to register in advance, create your virtual office, and carry out all financial operations on the loan. Before you start, carefully study the information and complete the application.

What are the requirements and process for applying for Loanplus?

There are only three steps you need to take to apply for a digital loan: 

  1. Fill out the application form.
  2. Get approval from the company’s experts in the form of an SMS.
  3. Accept the required amount of money on your personal bank details.

However, you should read the servicer’s requirements carefully and ensure you meet them on every point. Before signing the agreement, you must understand what you can count on and what the service lender expects from you.

Borrower’s age

From 20 to 60 years old

Citizenship

Sri Lanka only

Income

Not less than 15,000 rupees per month

Required for application

Customer identification documents, smart phone and e-mail address

Guarantor

Not required

When filling out the form, the user needs to specify his surname and first name, contact phone number, loan amount and terms, method of receipt, and details for money transfer.

It is also necessary to provide selfies and a scanned copy of documents confirming the borrower’s identity. Then, you will have to wait for the verification of the provided data by the service manager and receive the company’s decision in the form of a message, which will arrive at the specified phone number or e-mail address within 10 minutes. In case of approval, you can continue the registration and receive a confirmation code in the form of a message. After signing the virtual contract, you can get the money immediately.

The first loan from Loan Plus Sri Lanka is 40000 rupees, and then, the company can approve amounts up to 80000 rupees if repayments are made on time and the credit history is good.

Afterward, the client will only be required to repay the interest and the body of the loan on time, making monthly payments specified in the contract.

In case of timely repayment of the first loan, the client can apply for a second loan. It can also be done in the user’s personal cabinet.

Example of calculating the loan amount and its repayments

Let’s take a loan of 20,000 rupees as an example.

Loan amount

20,000 rupees

Loan term

10 days

Interest rate (12%/year)

4,400 rupees

Total payment

24,400 rupees

So, it becomes clear that the amount of overpayment is quite large even for a short-term loan. Therefore, before you fill in the application form, think again whether you really need this loan and whether you will be able to repay the amount indicated in the “Total payment” column within the established deadline.

Why do customers come to Loanplus again and again for loans?

The service offers all citizens of Sri Lanka to get fast money on the most favorable terms. Some of the advantages of the virtual lender include the following:

  • fast application process;
  • approval within 10 minutes;
  • easy repayment methods;
  • no collateral or guarantor;
  • provision of necessary documents in online format;
  • quality service;
  • repayment period from 2 to 4 months;
  • revolving credit;
  • possibility to extend the loan;
  • no penalties for early repayment.

Note that the service has a loan plus app, which is quickly installed on your smartphone so that you can apply for another loan or pay back the interest at any minute.

Other benefits include transparent loan terms and clearly defined amounts with no hidden fees and additional payments; the lowest fees in Sri Lanka; high approval rate: 96% of our clients’ loan applications have positive responses. The company has a special loyalty program that rewards you for choosing Loan Plus by offering exclusive terms and various incentives to stay among the clients of the service.

A fully automated digital lending service allows borrowers to access all services at any time of the day or night without having to visit an office in person. The platform optimizes the lending process in a way that makes it faster, more efficient and safer.

However, the borrower should understand that in case of late payments, the service consultant will constantly remind about the responsibility for the debt and demand to make another transfer of funds to the lender’s account.

Ways to repay loan interest quickly

To repay a loan on Loan Plus, you can choose from four available options:

  • via online card (no fee);
  • via bank deposit using ATMs/CDM machines or online banking;
  • at Cargill’s Food City;
  • at Pay&Go kiosks.

It is important to consider all the requirements of Loan Plus Sri Lanka to ensure that the funds reach the lender’s account on time. Online banking, wire transfers and electronic payments are subject to fees. It means that the amount of your money transfer should include these charges as well. It is best not to postpone payments to the last day. The borrower is notified by the system about the accrual of funds to the company’s account. In the case of timely payments, you can not worry about anything.

What consequences await the client if he refuses to repay the loan?

But if the date of repayment of the loan amount is overdue or the interest accrued on the loan amount has not been paid, the client will have to compensate the lender with a penalty according to the loan agreement. If the borrower exceeds the stipulated repayment date, Loanplus lk reserves the right to share personal information relating to the borrower as a measure to protect its rights and interests. In other words, if you violate the contract, the lender is also exempted from fulfilling all its clauses. However, it is better to avoid this situation and make timely payments to keep your credit history clean and ensure that you can get new loans in the future.

It is recommended to study the reviews of those who have already used the services of a virtual lender and were satisfied with the service to make sure that you can trust the service and apply for money in difficult life situations.

Nimal Chandrasiri

I am a specialist of a team that is working on finding worthy loan offers in Sri Lanka. I am engaged in the choice of lending options and assessing the benefits for the client from the transaction.

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