Cashwagon stands out as an online lending service in Sri Lanka, aimed at offering short-term financial solutions. Whether it’s to cover daily shopping expenses or to manage an emergency medical situation, Cashwagon ensures swift financial assistance through its entirely digital platform.
Cashwagon, known for its fast and reliable service, makes it easy to apply for online loans through both its website and mobile app, providing easy access from the comfort of your home.
Operating Mechanism of Cashwagon Loans
Accessible from any location, whether you’re at home or traveling, Cashwagon simplifies the loan application process. Users can access their services by visiting the Cashwagon website or by downloading their app. Particularly for those applying for the second time, using the Cashwagon app can enhance the convenience of loan access. Eligibility criteria include being within the age range of 20-60, having a stable income, and possessing a valid NIC or Driving License for identity verification.
Procedure for Applying with Cashwagon
The application process at Cashwagon is streamlined for user convenience:
- Access Cashwagon via their website or app.
- Choose your desired loan amount.
- Complete the application process.
- Await the approval decision.
- Upon approval, receive the funds in your bank account.
Ensure you have your NIC, Passport, or Driving License at hand for verification.
Loan Terms at Cashwagon
Cashwagon offers online loans Sri Lanka ranging from 5,000 LKR to a maximum of 100,000 LKR, with flexible repayment periods between 10 to 30 days. Interest rates are set between 15.8% to 18.1% per month, which may appear higher compared to other platforms but are justified by the short loan terms, potentially leading to a comparatively lower overall repayment amount.
Special Offers and Repayment Calculations
For new customers, Cashwagon presents an enticing offer of a complimentary first loan, delivered within 15 minutes. Repeat customers can use the provided example to estimate their final repayment amount, promoting the importance of timely settlement to avoid additional fees.
Repayment Channels
Cashwagon loans can be repaid using multiple online and offline channels, ensuring flexibility and convenience for the borrower. Online options include Pay&Go and direct bank transfers, while offline payments can be made through Pay&Go kiosks or bank transfers.
In conclusion, while Cashwagon has received a blend of feedback, the convenience and quick access to funds it offers make it a viable option for immediate financial needs. Always ensure to review the terms and user experiences before proceeding with any online loan service.
