Mobile loans are a new and easy way to borrow money in Sri Lanka. They are short-term loans that help people cover small or urgent expenses, like paying bills or handling emergencies. Because most Sri Lankans use mobile phones and digital services are growing fast, these loans have become very popular. They let you get quick cash without visiting a bank or dealing with complicated paperwork.
Best mobile loans in Sri Lanka in October 2025 ⭐
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Info and reviewLoan from LKR 3,000 to LKR 150,000 Minimum APR: 1% (First loan with 0% interest and service fee), Minimum period: 90 days, Maximum period: 180 daysFast service Only ID required 24/7 registration available Accept limited credit historyFinoGet a loan
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Info and reviewLoan from LKR 3,000 to LKR 150,000 Minimum APR: 1% (First loan with 0% interest and service fee), Minimum period: 90 days, Maximum period: 180 daysInstant loan approval No paperwork needed Easy to use platform Platform securityMonigoGet a loan
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Info and reviewLoan from LKR 8,000 to LKR 80,000 If you borrow Rs 8,000 for 90 days (3 months), the interest accrued will be Rs 3,600, calculated as Rs 8,000 * 90 * 0.005. The total repayment amount is Rs 11,600, which is the sum of the loan principal and the interest. When repaid in three equal installments, each monthly payment will be Rs 3,866.67. Customers can obtain up to 50% discounts based on their payment and credit historyQuick and simple Fast loan approval Mobile-friendly No hidden teams Discounts availableLoanmeGet a loan
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Info and reviewLoan from LKR 2,000 to LKR 50,000 Minimum APR: 1% (First loan with 0% interest and service fee), Minimum period: 90 days, Maximum period: 180 daysSimple and secure loan terms Fast loan approvals 24/7 registration available Transparent fees, no hidden chargesFinoGet a loan
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Info and reviewLoan from LKR 5,000 to LKR 200,000 *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%.Easy to use No collateral required Quick loan disbursal Transparent termssosoGet a loan
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Info and reviewLoan from LKR 5,000 to LKR 200,000 You borrow Rs. Apply for 10,000 and choose 5-day easy repayment, your 5-day payment will be only Rs. 12,300. So your total loan amount will be only Rs. 2300 per month.Fast loan approval High approval rate Clear terms Flexible repayment options User-friendly Bonuses availableLoanplusGet a loan
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Info and reviewLoan from 5 000 RS to 200 000 RS A representative example: You apply for RS. 10,000.00 and choose comfortable repayment over 10 days, your payment will be only RS. 12,200.00 per 10 days, so your total cost of the loan will be RS. 12,200.00Quick approval 5 minutes Loan amount up to RS 200 000 Need only ID number Prolong the loan any timeCashXGet a loan
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Info and reviewLoans from 5000 – 200 000 Rs 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%. The maximum APR is 365%.Personalized loan offers up to Rs. 200,000 100% commission discount for new clients Quick processingSoscreditGet a loan
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Info and reviewLoan from LKR 5,000 to LKR 200,000 Credify.lk. Sri Lanka. Email: info@credify.lk. Maximum percentage interest rate (APR): 365%. Loan term: from 90 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%. Credify.lk is not a lender and does not grant loans. Each lender is licensed. The offers on the site do not include all financial companies or their products. We are not a loan company/loan broker, but we do offer loan comparison services and they are informative.Quick and simple Fast loan approval No hidden fees No credit history required Flexible repayment optionsCredifyGet a loan
Mobile online loans work through mobile apps, online platforms, or SMS services. The process usually involves a simple application, quick identity verification, and fast transfer of funds. These loan apps use advanced algorithms to review personal information, mobile usage patterns, and digital financial behavior to determine a borrower’s eligibility.
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Advantages of mobile loans in Sri Lanka 🔥
- Convenience: Users can obtain loans through their mobile phones without needing to visit a bank or provide complicated paperwork. This is especially beneficial in rural areas of Sri Lanka where access to financial institutions is limited.
- Speed: Many mobile loan providers issue instant or same-day approvals. This is very important for individuals with urgent financial needs. While traditional banks may take days or even weeks to approve a loan, mobile loans simplify this process.
- Minimal eligibility requirements: Unlike traditional loans, these have lower qualification thresholds. Most providers only require basic income verification and identification. This allows access even for those without a formal credit history.
- Access to the financial system: In a country like Sri Lanka, where a significant portion of the population does not have access to traditional banking services, mobile loans help bring underbanked populations into the financial system.
Disadvantages of mobile loans
- High interest rates: Mobile loans often come with higher interest rates than traditional loans. Borrowers may fall into a debt trap by repeatedly adding interest or renewing their loans.
- Lack of regulatory oversight: The rapid growth of many mobile loan providers often occurs without sufficient regulation. With only minimal supervision, there is a risk of fraudulent lending practices.
- Limited loan amounts: These loans are generally limited to small amounts and cannot cover large financial needs. They are created for short-term cash flow rather than long-term investments or major expenses.
- Privacy issues: The digital nature of mobile loans means providers often have access to borrowers’ personal and financial data. This increases the risk of data privacy breaches and misuse.
- Unclear terms and conditions: Many users find it difficult to understand the loan terms, especially interest rates, late fees, and repayment schedules. This is particularly challenging for those with limited financial literacy.
Find the best mobile loan with Lafingo 🚀
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Info and review Soscredit 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%. The maximum APR is 365%.Get a loan
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Info and review Soso *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%.Get a loan
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Info and review CashX A representative example: You apply for RS. 10,000.00 and choose comfortable repayment over 10 days, your payment will be only RS. 12,200.00 per 10 days, so your total cost of the loan will be RS. 12,200.00Get a loan
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Info and review Oncredit Minimum APR: 1% (First loan with 0% interest and service fee), Minimum period: 90 days, Maximum period: 180 daysGet a loan
Eligibility requirements for obtaining a mobile loan online
- Must be at least 18 years old.
- Must have a valid Sri Lankan National Identity Card.
- Must have a registered mobile phone number.
- Must show a source of income (depending on the provider).
💡Quick tip: Borrow only what you need, and repay on time to build trust and access larger amounts later.
Mobile loan application process in 2025 ✅
- Registration: The borrower must register on the relevant mobile app or website by providing personal and contact information, find all loans with Lafingo here.
- Identity verification: Most providers require a scanned copy of the National Identity Card and other personal details.
- Loan request: After registration, the borrower must request the loan, specifying the desired amount and repayment period.
- Approval and disbursement: Once the application is approved, the loan amount is credited to the borrower’s mobile wallet or bank account, usually within a few minutes or hours.
Check other loans with Lafingo 🔎
Frequently Asked Questions (FAQ) about mobile loans❓
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What are mobile loans❓
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How much can I borrow❓
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How long do I have to repay❓
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What are the interest rates and fees❓
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Are mobile loans safe❓
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What do I need to apply❓
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Can I get a loan without a credit history❓
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What happens if I don’t repay on time❓
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Which apps are popular in Sri Lanka❓
