First Loan 0% - A Financial Boost Without the Extra Cost!

Unexpected expenses can throw off even the most carefully planned budget. Whether it’s a sudden repair, a special occasion, or a last-minute trip, these financial surprises can put pressure on your savings. But what if you could borrow money without worrying about interest?

With the First Loan 0% offer, that’s exactly what you get – a loan with no interest on your first borrowing! Yes, zero percent interest, meaning you only repay what you borrow.

Why Choose the First Loan 0%?

Whether you’re eyeing a new gadget, need funds for an emergency, or want to grab a great deal, the First Loan 0% offers a lifeline without the burden of interest. Borrow up to 100,000 Rs and choose a repayment term that suits your needs – from 62 days to 1 year. The best part? You’ll repay exactly what you borrowed, as long as you stick to the plan.

Key Details:

• Loan Amount: Borrow between 1000 Rs and 100,000 Rs.
• Repayment Period: Choose terms from 62 days to 1 year.
• No Hidden Fees: No interest, just the amount you borrow.
• Clear Terms: Transparency with no unexpected costs or surprises.

Example Loan Calculation:

For a loan of 50,000 Rs over 6 months, your monthly payment would be around 8,948 Rs. By the end of the term, you would have repaid the full 53,688 Rs (including a 15% APR, if applicable for future loans).

Eligibility for the First Loan 0%:

To apply for this interest-free loan, you need to:

• Be between 20 and 80 years old.
• Provide a valid National ID.
• Have an active bank account or card.
• Have a working phone number and email.

Important Reminder:

While this offer is a great way to manage unexpected costs, remember to repay on time. Late payments can harm your credit history, leading to penalties and extra charges. It’s crucial to stay on top of your repayments to maintain a healthy financial future.

Additional Associated Fees

Many or all of the products we offer are from our partners, from whom we may receive commission. This may affect the placement of offers and whether a product is included in the comparison. However, this does not affect our ratings.

In addition to obvious costs like interest and repayments, there may be hidden fees that ultimately make a loan more expensive than it initially appears. These hidden costs are not always obvious and can take many forms.

One of the most common hidden costs is a processing fee. Some lenders charge a fee for reviewing a loan application, which is added to the loan amount and interest. While this practice is criticized and sometimes restricted by law in many countries, it is important to consider this when taking out a loan.

Insurance premiums, especially for residual liability insurance, are another issue often overlooked. These insurances are designed to protect both the borrower and the lender if the borrower is unable to service the loan for reasons such as illness or unemployment. However, the cost of such insurance can be high and may significantly increase the overall loan expenses.

If a borrower wishes to repay a loan early, prepayment penalties may apply. These fees are intended to compensate lenders for lost interest income.

Additionally, a special repayment fee may be charged. While some loan agreements offer the option of special repayments without any additional fees, other lenders may impose a charge.

The overall cost of a loan may also be affected by an adjustment to the interest rate on variable-rate loans. If the base interest rate increases, the cost of the loan will also rise.

Therefore, it is crucial for borrowers to carefully review all aspects of a loan agreement, considering not only the nominal interest rate but also any additional fees and charges, to get a true understanding of the total cost of the loan.

Creditguru.app is here to help you compare the best loan offers in Sri Lanka. We don’t lend directly, but we guide you to the right choice. Explore your options today and find the best financial solution for your needs!