Hello Everyone,

This previous month I took a loan from a personal online microloan site Cashwagon. The initial amount I applied for was 30,000 LKR (receiving 28,000 with 2000 service charge) whereas at the end of the month I had to pay 54,000 in respective with the interest added. ( Initial amount to be paid with interest was 44,500 LKR, ended up paying 54,000 LKR) With 2 months due to payment ( I tried reaching them out through several phone calls, but the only official reply from their end was ''NOTHING,'' just saying the customer's name without even a greeting '' Hello'' indeed!) BASIC MANNERS IN CUSTOMER SERVICE!

Perhaps, hanging up on the call immediately with improper communication.

I was charged with an extra interest rate and indecent verbal communication while approaching them to settle my initial loan amount along with the right interest.
My on-time settlement was delayed due to their improper communication ( They failed to answer my calls, ALWAYS when I wanted them to ask my concerns regarding the additional interest charges)


The site clearly explains that under their terms & conditions it is said that '' If get to pay Rs. 25,000 and select 6 months easy refund, your monthly payment is Rs. Only 6,750 are owned by. Therefore, the additional cost of your loan amount is Rs. Only 2,583 people, but I ended up paying 54,000 LKR with an additional interest rate. ( The amount I applied for was 30,000, receiving only 28,000 as I said with a 2000 service charge)

I mean which online microloan site in Sri Lanka would charge a service charge & high-interest rate like this

My enormous awareness at this point is, Why this hasn't still been brought to The Central Bank of Sri Lanka's attention??!

My major concern was I paid the whole amount 54,000 LKR this month ( having all the right to question) while they responded me back that there WASN'T a loan settlement, which was pretty reckoning to me about their fraudness!
While discussing this issue over the phone, I faced the following inconveniences

1) No proper communication, They started trashing me with improper Tamil language
2)They were not able to communicate even in basic English language
3)The site's services holds only an English & Sinhala Language content. ( The only particular reason bringing this into your high attention is because the site doesn't have a Tamil language briefing)

It makes me wonder, how they could even want Tamil customers, while not having Tamil language content and communications within them. ( It is the right of every citizen to stand up this illegal issue, serviced by Cashwagon!)

Cashwagon, the worst/fraudulent online microloan site, neither me nor any citizen in the country could experience.

This is something that has to be brought up to the nation's attention, extremely remarking!

1) The higher Interest rate
2) INDECENT COMMUNICATION with customers
3) The site not having TAMIL language briefing but still wanting Tamil customers


Please do let me know, as a citizen of this country what you think about this?