OnCredit (Private) Limited is continuing to simplify their short-term online loans thereby providing access to financial services to all communities of the country regardless of their status and helping them to realize their cash requirements when they need it the most.

OnCredit clients can now apply and get a short-term loan now from the comfort of their homes. The typical online application procedure includes 5 simple steps. The 1st step is the Service Activation where the client visits the financial company's website and creates an account online which allows managing the account and receiving the required data. The 2nd step is filling out the application form with personal information including first and last names, loan purpose and contact information. The 3rd step involves the status confirmation. Issuing quick online loans requires verification of financial status and to achieve this, the client is required to provide access to bank account and employment information. The 4th step is the choice of conditions which varies from company to company. OnCredit offers very flexible conditions where an online loan of up to Rs. 50,000 can be obtained for 30 days. The 5th and final step is the confirmation of the application. The simplification of the procedure allows clients to quickly make an application and receive funds within a few hours.

Providing the data and documents properly allows the OnCredit staff to move on to processing the application. Several characteristics affect the result, either indicated by the client or obtained during processing. Some important factors include credit rating, availability of stable income, compliance with the terms and conditions, purpose of credit, and country status. While it takes up to 12 hours to process an application, providing access to the applicant's data speeds up the procedure. A favorable application decision means the funds will be credited to the client’s account prior to which the client must sign an agreement. At this point, they need to pay attention to the loan terms, the amount of funds received, and the presence of additional payments, which may typically include application processing, fines, and penalties. Funds are transferred via bank transfer, credited to the created account or sent to one of the branches, which means the client can obtain the funds in as little as 30 minutes if the  electronic transfer option was chosen.

When it comes to paying back the client has the freedom to determine the terms of the online loan. This is done prior to the application submission which allows the client to plan and prepare for the repayment of funds. For greater convenience, several repayment options are available including automatic fund transfer, payment by requisites or payment by cash.

Short-term online loans have numerous benefits which makes them very attractive to today’s clients. It is a simple procedure with an online application that takes a few hours to process while the offline application is processed within 5 business days. Those who have a basic familiarity of technology will find the procedure very convenient as it is fully available online. The contract document, signing, accessing of the terms, requirements, and account status can all be done using a smartphone.

Thanks to the speed and efficiency of OnCredit short-term loans inconveniences are now a thing of the past and clients now have quick access to short-term financing to help them out in their time of need. More info on OnCredit can be obtained by accessing their website www.oncredit.lk or their Facebook page https://web.facebook.com/oncreditsrilanka