Looking to finance a personal need, buy a home or vehicle, or expand your business in Sri Lanka? Bank loans offer one of the most common and trusted financial solutions in the country, with competitive interest rates and flexible repayment terms. Whether you’re an individual or a business, this guide will help you understand the types of loans available, the eligibility criteria, required documents, and how to apply – all with insights powered by Lafingo.
Best bank loans in Sri Lanka in August 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 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 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
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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 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 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
Getting a bank loan in Sri Lanka is one of the most common ways for individuals and businesses to access financing. Whether it’s for personal needs like buying a house or vehicle, or expanding a business, banks offer competitive interest rates and flexible repayment terms. If borrowers meet the eligibility criteria and provide the required documents, the bank loan estimation process is straightforward.
Types of bank loans
This section categorises qualified bank loan options offered by various financial institutions to fulfil different financial needs, summarised below by Lafingo.
- Personal Loan: Best suited for education, medical costs, or other personal needs. These are typically unsecured loans, meaning no collateral is required.
- Home Loan: Designed for purchasing, building, or renovating a home.
- Vehicle Loan: Specifically for purchasing new or used vehicles.
- Business Loan: Suitable for startups, SMEs, or large businesses seeking working capital or expansion.
- Education Loan: Provides funds for local or overseas higher education.
- Agricultural Loan: Tailored to support farmers for agricultural activities.
📄 Apply online for the best bank loans today
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Info and review Monigo.lk Minimum APR: 1% (First loan with 0% interest and service fee), Minimum period: 90 days, Maximum period: 180 daysGet a loan
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Info and review Credify.lk 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.Get a loan
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Info and review Fino.lk Minimum APR: 1% (First loan with 0% interest and service fee), Minimum period: 90 days, Maximum period: 180 daysGet a loan
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Info and review Loanplus.lk 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.Get a loan
Key factors to consider before getting a bank loan in 2025
Before applying for a loan, here are some important things to keep in mind:
- Loan Amount: Depending on the purpose, banks offer amounts ranging from thousands to millions of rupees.
- Interest Rate: Rates can be fixed or variable and vary by bank, loan type, and the borrower’s credit profile.
- Repayment Period: Ranges from several months to several years. Longer terms mean smaller monthly payments but higher total interest.
- Eligibility: Banks assess income, employment, and credit history.
- Collateral: Required for secured loans, such as property, gold, or fixed deposits.
- Processing Fees: Banks may charge a processing fee of 1%–2% of the loan amount.
✅ Compare top bank loan offers in Sri Lanka
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Info and review Monigo.lk Minimum APR: 1% (First loan with 0% interest and service fee), Minimum period: 90 days, Maximum period: 180 daysGet a loan
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Info and review Credify.lk 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.Get a loan
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Info and review Fino.lk Minimum APR: 1% (First loan with 0% interest and service fee), Minimum period: 90 days, Maximum period: 180 daysGet a loan
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Info and review Loanplus.lk 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.Get a loan
Eligibility criteria for bank loans
These vary by lender and loan type, but general requirements include:
- Age between 18 and 60
- Valid national ID
- Must be a Sri Lankan citizen
- A valid bank account
- Proof of income
- Good credit history or a CRIB report
Required documents
- National ID or Passport
- Proof of income (Payslips or business income records)
- Bank statements from the past 6 months
- Address verification documents
- Business registration documents (for business loans)
How to apply for a bank loan in Sri Lanka in 2025
- Compare loan options across banks to find the best interest rates, estimations, repayment terms, and conditions.
- Ensure you meet the income, employment, and credit score requirements of your chosen bank.
- Prepare your documents.
- Submit the application: either by visiting the bank or applying online through the bank’s website.
- The bank will review your application and assess your repayment ability.
- Once approved, the funds will be transferred to your account.
Estimated loan amount and repayment
Estimated loan amounts depend on your income, collateral, and loan purpose. For example:
- Personal Loan: Up to 10× your monthly salary
- Home Loan: 70%–80% of the property value
- Car Loan: Up to 90% of the vehicle cost
To estimate your monthly repayment, many banks provide online loan calculators where you can enter the loan amount, term, and interest rate to calculate your EMI (Equal Monthly Installment).
Frequently Asked Questions (FAQ) about bank loans❓
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How can I estimate the loan amount I qualify for❓
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What are the interest rates for bank loans in Sri Lanka❓
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How long does it take to get a bank loan approved❓
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Can I apply for a bank loan online❓
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Are there hidden charges when taking out a bank loan❓
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What types of bank loans are available in Sri Lanka❓
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What’s the difference between secured and unsecured bank loans❓
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Can foreigners apply for bank loans in Sri Lanka❓
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Are there fees besides the interest rate❓
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What is CRIB and why is it important❓
