What is Lotus Loan?
Lotus Loan is a leading online financial solutions provider in Sri Lanka. Its main goal is to provide fast, convenient and flexible financial solutions. If you are looking for a quick, short-term loan and already tired of long, complicated procedures, Lotus Loan will be a wise choice for you. Lotus Loan Sri Lanka is a reliable financial solutions provider and you can easily apply for an online loan and get money in your bank account within a few minutes. It’s easy-to-follow application process will take you step by step towards getting the loan easily.
If you need money right away, Lotus loan will help you instantly with your cash loan.
How does Lotus Loan work?
To get a loan with Lotus Loan, simply log into the Lotus Loan website via https://www.lotusloan.lk. You can also access the Lotus Loan Sinhala website through the same link and simply switch the language on the top right corner. Unfortunately there isn’t a Lotus Loan app to apply for a loan. But not to worry, Lotus Loan website is easy to navigate and you can apply for the loan through the website easily.
You can apply online for a loan up to Rs. 40, 000/- for any reason. It’s up to you to decide why and when you need the loan and Lotus loan will simply help you with your need. One significant advantage with Lotus Loan is that even though it is 100% online, if you are unable to apply for the loan online, you still have the opportunity to call Lotus Loan and apply over the phone with the help of an agent. Simply call Lotus Loan contact number here: 0117 821 444
How can I apply for a loan with Lotus Loan?
Applying for a loan with Lotus Loan is quick and easy. You simply need to complete the four easy steps below and get the money in your bank account.
- Fill in the online Lotus Loan application form
- Wait for a call with the result
- Receive money in your bank account
- Repay your loan
Make sure you have the National Identification Card ready before starting the Lotus Loan application process as it is mandatory for verification and you will be done in a few minutes.
How much can you borrow from Lotus Loan?
You can apply for a maximum loan amount of 40,000 LKR and pay off this within a given number of days. The minimum loan term is 122 days and the maximum is 122 days for first time borrowers and 182 days for repeat customers. The loan interest rate is 12% per year and this rate is applicable to all loans. But if you pay off your loan within 7 days, then the repayment amount will be significantly low.
Let’s see how it works:
First Loan:
- Loan amount - 30,000 LKR
- Loan Period - 122 days
- Consulting Fee - 3600 LKR
- Service Fee - 13,920 LKR
- Interest Rate - 12% per year - 754 LKR
- Total Lotus Loan Repayment Amount - 48,274 LKR
If you settle the Lotus Loan repayment in 7 days, then the total repayment amount will only be around 34,000 LKR.
It’s always a best practice to repay or settle your loan within the agreed period of time to avoid unnecessary extra costs.
How to pay my Lotus Loan?
It’s absolutely convenient to repay your Lotus Loan. Lotus Loan offers numerous repayment methods on their website.
To list down a few:
- Pay&Go Kiosks
- Bank Deposits
- Cargills FoodCity Outlets
- Free Online Card Payments
Is Lotus Loan legit?
Yes, Lotus Loan Sri Lanka is a legit online financial solutions provider in Sri Lanka. It is registered under Zephyr Solutions (Private) Limited with company registration number PV125704 granted by the registrar general of companies in Colombo, Sri Lanka. It is always recommended to read the terms and conditions and the privacy policy listed in the website before applying for a loan with any online loan provider as use discretion when making a decision.
Lotus Loan Advantages
Applying for a loan with Lotus Loan will bring you many advantages.
To list down a few:
- Fast Application Process
- Easy Repayment
- 100% Online
- Get money in your bank account within a day
- Clear terms and conditions
- Dedicated customer service
Lotus Loan Customer Service
You can easily contact Lotus Loan customer service through multiple channels. For instant support, you can get through to Lotus Loan Customer Service by calling the Lotus Loan contact number 0117 821 444 or contact through Lotus Loan whatsapp number +94 77 985 5448.
You can also write to Lotus Loan through their email address listed on the website, which is info@lotus.loan
Lotus Loan Reviews
Lotus loan has little or no reviews to analyze. However we analyzed the Google reviews to give you a better understanding and thus help you make a good decision. According to the Google reviews, the most common complaint was about the extra fees or the penalty fees, charged for not settling the loan on time. This is quite a common complaint with any Loan provider.
As highlighted in this reading, it is very important to repay the loan on time as usually the penalty fees are very high and it accumulates resulting in a higher repayment amount. So as always, it is recommended to use your own judgment when evaluating any online loan provider and always make sure you have a plan or a way to repay the loan within the agreed time to avoid unnecessary charges.
Have you used Lotus Loan? Share your experience here.