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Frequently Asked Questions

Why online loans are good decision? 

Online loans are digital financial services for borrowing funds via web platforms, offering swift applications, rapid approvals, and direct bank transfers, making the borrowing process efficient and user-friendly. 

How do online loans work? 

Online loans simplify borrowing via digital applications. You submit an application online, the lender assesses them, and upon approval, funds are directly deposited into your account.  

Online vs. Traditional loans? 

Online loans are known for their virtual application process, reduced paperwork, faster approvals, and flexible eligibility criteria. They provide a convenient option for quick and efficient borrowing. 

What are the criteria to get a loan? 

To qualify, you typically need to be aged 20-80, a Sri Lankan citizen, and have a bank account, valid NIC, and accessible phone and email.  

What is the amount I can borrow? 

The loan amount depends on the purposes for which the money will be used. It is possible to borrow both smaller amounts and larger amounts. 

How long is the repayment term? 

Repayment periods range from 62 days to 1 year, offering budgetary flexibility. 

For what purposes can I borrow? 

The funds can be used for various personal needs like unexpected expenses and bills. 

Can I apply at any time of the day? 

Yes, you can apply for loans at any time of the day, providing convenience beyond traditional banking hours. 

Do lenders indicate loan costs in advance? 

Reputable online loan providers disclose all costs, fees, and repayment terms upfront, ensuring clear and informed borrowing decisions. 

When will I receive the money? 

Funds can be received within minutes if the criteria are met. However, substantial loans, individual credit assessments, or off-hour applications might delay the process. 

How can I contact Creditsms.com? 

If you have any questions about the Creditsms.com service, please use our contact form!