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OnCredit Sri Lanka review

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

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Our verdict

OnCredit is a direct Sri Lankan lender for adults with a regular income and an active bank account, offering fixed-rate personal and payday loans decided within minutes. The first loan carries no service fee, and its APR of 0% to 16% sits close to the site median of 15.5%.

Key facts

Best for
Small fixed-rate loans in Sri Lanka, with no service fee on the first draw and same-day money in the account.
APR
0% to 16%↗
Loan amount
LKR 2,000 to LKR 50,000↗
Term
10 to 30 months↗
Arrangement fee
0 LKR service fee for first loan customers; 1.2% service fee on a new loan, 1.8% on a repeat loan↗
Credit check
Hard↗
Funding time
Decision within 15 minutes; funds credited to the registered bank account within minutes to 24 hours↗
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↗
Rate type
Fixed↗
Lender type
Direct lender↗
Free early repayment
Yes↗
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↗
Origination fee (%)
1.2% to 1.8%↗
Loan types
Personal, Payday, Student, Business↗
Use cases
Home-improvement↗
Legal entity
OnCredit (Private) Limited (company registration no. PV00232746)↗
Headquarters
Sri Lanka↗
Support channels
Phone, Email, Help-centre↗
Pricing model
Fixed rate
Features
Same-day funding
Official website
oncredit.lk

Facts checked September 26, 2026, 2 sources

Apps and profiles

Get the app
Google Play
Elsewhere
facebook.comyoutube.com

Pros and cons

Pros

  • First loan customers pay no service fee, and later loans carry an origination fee of 1.2% to 1.8%.
  • A decision within minutes, with same day funding, so the money reaches the registered bank account within a day.
  • A fixed rate (fixed) and free early repayment listed as yes, so clearing the balance early adds no charge.
  • Support runs on phone, email and help centre for borrowers who want a person on the other end.

Cons

  • The credit check is hard, so a full file search sits behind every application.
  • The representative example shows a repeat loan settling for far more than the amount borrowed, and a repeat loan pays the top of the 1.2% to 1.8% origination fee.
  • Borrowing stops at LKR 2,000 to LKR 50,000, and eligibility needs a residential address within Sri Lanka, a National Identity Card or driving licence, a regular source of income and an active personal bank account.
OnCredit Sri Lanka

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Scored 9.3 / 10 by SumCue.

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Who it suits

  • Adults in Sri Lanka with a regular income and an active personal bank account, applying with a National Identity Card or driving licence.
  • First-time borrowers who want a fixed-rate personal loan with no service fee on the first draw.
  • People covering a short-term gap who need personal, payday, student or business borrowing (personal, payday and student) settled quickly.

Who should look elsewhere

  • Borrowers after a larger sum: lending stops at LKR 2,000 to LKR 50,000 here, while Creduma ES works from from €12,000.
  • Anyone whose debt takes longer than 10 to 30 to clear, well under the site median of 36, so a longer plan means looking further afield.
  • Readers who want a soft or absent credit check: the check here is hard, the stricter end of the range, and Cashspace's PHP 12 to PHP 36 market runs on its own rules.

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 does a loan from OnCredit cost?+

First loan customers pay no service fee at all. A new loan then carries an origination fee of 1.2% to 1.8%, and a repeat loan sits at the top of that range, so later draws cost more than the first. Interest is a fixed rate, and the headline APR is 0% to 16%.

How long are the terms?+

Terms run 10 to 30, shorter than the 36 median across the site. The rate is fixed for the whole period, so the cost is set when the loan starts and does not move afterwards. Borrowers who clear the balance early pay nothing extra.

How quickly does the money arrive?+

A decision comes within minutes of applying, and funds are credited to the registered bank account from minutes to within a day. That underpins the same day funding label, and the account has to be an active personal bank account in your own name.

Who is the lender and how is it registered?+

OnCredit (Private) Limited lends directly rather than through a broker. It is registered with the Registrar General of Companies, Colombo (Sri Lanka) under PV00232746. Loan types cover personal, payday, student and business borrowing (personal, payday and student).

What credit check is used?+

The credit check is hard, so a full search applies to every application rather than a soft pre-check. Applicants also need a regular source of income, a residential address within Sri Lanka, a National Identity Card or a driving licence, and a minimum age.

How much can I borrow and for what?+

Amounts run LKR 2,000 to LKR 50,000, above the site median of €526.18 for size. home improvement is the stated use, alongside personal, payday, student and business lending (personal, payday and student), so the same fixed-rate facility covers a repair job or a short-term gap.

What does a repeat loan cost?+

A repeat loan pays the higher end of the 1.2% to 1.8% origination fee, where a new loan sits at the lower end and the first loan carries no service fee. Borrowing is not saving: the site tracks a median retail loss share of 70.15%, so keep balances short and settle early when you can.

How can I get help?+

Support runs on phone, email and help centre, so a phone line, email and a help centre are listed. Because direct lender is a direct lender, questions go to OnCredit itself rather than to a broker, and the same team handles the application through to the decision.

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

Small fixed-rate loans in Sri Lanka, with no service fee on the first draw and same-day money in the account.

9.3/10See alternatives