LoanGedara 1.0.0

LoanGedara serves as a lending platform aimed at facilitating access to financial resources for individuals throughout Sri Lanka, whether for business expansion, retail operations, or urgent financial needs. The platform offers a streamlined way for customers to apply for loans via their smartphones at any time, ensuring round-the-clock access to financial solutions.

The loan approval process is efficient, allowing users to receive results shortly after submission. Upon approval, funds are promptly transferred to the user's digital wallet.

Eligibility criteria for obtaining a loan from LoanGedara include:

• Applicants must be 18 years of age or older.
• Applicants must be Sri Lankan citizens.
• A stable source of income is required.

Application Process:

1. Download the LoanGedara app.
2. Register an account using your phone number.
3. Complete the required basic information form.
4. Submit your application for review.
5. Await approval notification.

Loan Specifications:

• Loan amounts range from 5,000 to 85,000 LKR.
• Loan terms are between 91 days and 365 days.
• Annual Percentage Rate (APR) varies from 3% to 12%.
• A management fee is charged at a rate of 1% to 5% of the loan amount.
• Late fees can accumulate at a rate of up to 0.1% per day, not exceeding 18% of the overdue amount. No hidden fees are associated with the loan.

For illustration, a loan of 5,000 LKR at an APR of 12% over a period of 91 days would incur interest calculated as follows:

• Loan interest = 5,000 LKR x 12% / 365 x 92 = LKR 151.2
• Loan Fee = 5,000 LKR x 3% = LKR 150

This results in a total repayment amount of 5,151.2 LKR (5,000 LKR principal + LKR 151.2 interest).

Privacy Assurance:

Your personal information is safeguarded; LoanGedara assures users that data will not be shared without explicit consent.

Contact Information:

Address: 187/7 Galle Road Rawathawatta Moratuwa
Customer Service Email: [email protected]