OnCredit Sri Lanka review

Updated September 28, 2026 · BorrowCue Editorial Team · Facts checked September 26, 2026

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Our verdict

OnCredit Sri Lanka offers small fixed-rate loans to adults with a regular income in Sri Lanka, with an APR of 0% to 16% and a decision within minutes. It suits borrowers who need cash the same day and can settle it early, and suits less anyone planning a long, structured repayment.

Key facts

Best for
Same-day, small-value loans in Sri Lanka with no service fee on a first loan.
APR
0% to 16% (Source, checked September 26, 2026)
Loan amount
LKR 2,000 to LKR 50,000 (Source, checked September 26, 2026)
Term
10 to 30 months (Source, checked September 26, 2026)
Arrangement fee
0 LKR service fee for first loan customers; 1.2% service fee on a new loan, 1.8% on a repeat loan (Source, checked September 26, 2026)
Credit check
Hard (Source, checked September 26, 2026)
Funding time
Decision within 15 minutes; funds credited to the registered bank account within minutes to 24 hours (Source, checked September 26, 2026)
Representative example
First loan: borrow Rs. 5,000 and pay in full after 121 days, service fee 0, total to settle Rs. 5,000; repeat loan of Rs. 5,000 over 121 days costs Rs. 2,867 per month, total Rs. 8,600 (Source, checked September 26, 2026)
Rate type
Fixed (Source, checked September 26, 2026)
Lender type
Direct lender (Source, checked September 26, 2026)
Free early repayment
Yes (Source, checked September 26, 2026)
Eligibility
Applicant aged over 20, residential address within Sri Lanka, valid National Identity Card or driving licence, regular source of income and an active personal bank account (Source, checked September 26, 2026)
Origination fee (%)
1.2% to 1.8% (Source, checked September 26, 2026)
Loan types
Personal, Payday, Student, Business (Source, checked September 26, 2026)
Use cases
Home-improvement (Source, checked September 26, 2026)
Legal entity
OnCredit (Private) Limited (company registration no. PV00232746) (Source, checked September 26, 2026)
Headquarters
Sri Lanka (Source, checked September 26, 2026)
Support channels
Phone, Email, Help-centre (Source, checked September 26, 2026)
Pricing model
Fixed rate
Features
Same-day funding
Official website
oncredit.lk

Apps and profiles

Get the app
Google Play
Elsewhere
facebook.comyoutube.com

Pros and cons

Pros

  • The first loan carries no service fee, and later ones pay a service fee of 1.2% to 1.8%.
  • Same-day funding is offered (same day funding), with a decision in minutes and money in the registered bank account the same day.
  • Rates are fixed (fixed) and terms run 10 to 30, so repayments stay predictable.
  • Repaying early is free, and sums of LKR 2,000 to LKR 50,000 fit a repair bill.

Cons

  • The credit check is hard (hard), not a soft prequalification.
  • Loan sizes stop at LKR 2,000 to LKR 50,000 and terms at 10 to 30, so this fits a repair rather than a major project.
  • The representative example settles a repeat loan for far more than the sum borrowed, and the service fee is higher on repeat borrowing (1.2% to 1.8%).
OnCredit Sri Lanka

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Who it suits

  • Adults living in Sri Lanka with a regular income, an active personal bank account and a National Identity Card or driving licence
  • Borrowers who need a small sum quickly and can clear it early, since early repayment is free
  • First-time OnCredit customers, who pay no service fee on their first loan

Who should look elsewhere

  • Anyone needing a longer, more structured term than 10 to 30; Monzo Flex quotes an APR of 10% to 23%.
  • Borrowers comparing lenders outside Sri Lanka: Cashspace quotes an APR of PHP 12 to PHP 36.
  • Applicants unwilling to accept a hard credit check (hard).

The company behind it

OnCredit Sri Lanka is provided by OnCredit (Private) Limited, registered in Sri Lanka (LK) under company registration number PV00232746, held with the Registrar General of Companies, Colombo. The lender also sits on the Digital Alternative Lending Association roster. Borrower support runs on phone, email and help centre.

How OnCredit Sri Lanka compares

Where OnCredit Sri Lanka is available

Available
Sri Lanka
Licence in Sri Lanka
Registrar General of Companies, Colombo (Sri Lanka) (PV00232746), checked September 26, 2026
Licence in Sri Lanka
Digital Alternative Lending Association (DALA), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What will a loan from OnCredit Sri Lanka cost me?+

The first loan carries no service fee. Later ones pay a service fee of 1.2% to 1.8% on the amount borrowed, and the rate is fixed (fixed), with an APR of 0% to 16%. Terms run 10 to 30. A repeat loan costs noticeably more than a first one, so the second application is the expensive one.

How fast do I get the money?+

Decisions come within minutes and the cash is credited to your registered bank account, usually the same day, under the same-day funding feature (same day funding). An active personal bank account in your own name is needed for the transfer to land, and amounts run LKR 2,000 to LKR 50,000.

Who is eligible to apply?+

Applicants must be adults with a residential address in Sri Lanka, a valid National Identity Card or driving licence, a regular source of income and an active personal bank account. Sums run LKR 2,000 to LKR 50,000 and the rate is fixed (fixed), so the offer does not drift with the market.

Does applying put my credit file at risk?+

The credit check is hard (hard), not a soft prequalification, so a full credit history is searched before any decision. Applicants with thin files or a recent default get the same scrutiny, and an APR of 0% to 16% is priced on what is found there.

How much can I borrow, and for how long?+

Borrowing runs LKR 2,000 to LKR 50,000 and terms run 10 to 30, a short fixed window rather than a long repayment. The listed use is home improvement (home improvement), so these figures sit closer to a repair or a monthly bill than to a major project.

What kinds of loan are on offer?+

The book covers personal, payday, student and business lending (personal, payday and student), and OnCredit lends directly rather than brokering. A fixed rate (fixed) applies across the range, the same-day funding feature (same day funding) is listed for the loans generally, and amounts cap at LKR 2,000 to LKR 50,000.

Who regulates OnCredit Sri Lanka?+

The lender trades as OnCredit (Private) Limited, registered in Sri Lanka (LK) with company registration number PV00232746 under the Registrar General of Companies, Colombo. It also appears on the Digital Alternative Lending Association roster, and the fixed rate (fixed) means the cost is known when the loan is agreed.

Sources

  • oncredit.lk/en checked September 26, 2026

    Backs: Loan amount, APR, Features, Free early repayment, Funding time, Headquarters, Legal entity, Lender type, Loan types, Arrangement fee, Origination fee (%), Representative example, Support channels, Term, Use cases, Licences

    “New loan - Term: 10 Days - Amount: LKR 2,000 - 50,000 - Service fee: 1.2%”

  • oncredit.lk/en/terms-conditions checked September 26, 2026

    Backs: Credit check, Eligibility, Pricing model, Rate type

    “The Service Provider may conduct a credit risk assessment of the Customer by itself, at its cost but without any obligation to do so, through a third party.”

Compiled from 3 source pages, checked September 26, 2026. We did not open an account.

OnCredit Sri Lanka

OnCredit Sri Lanka

Same-day, small-value loans in Sri Lanka with no service fee on a first loan.

9.2/10See alternatives

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