Disclaimer

1. GENERAL DISCLAIMER

BestRate.lk, operated by Saminda Vithanage (sole proprietor), provides loan comparison tools and calculators to help users make informed financial decisions. However, this service should not be considered as professional financial advice.

1.1 Nature of Service

BestRate.lk is:

• ✅ An informational website providing loan comparison tools
• ✅ A calculator platform for estimating loan payments
• ✅ A resource for comparing interest rates from various banks

BestRate.lk is NOT:

• ❌ A licensed financial advisor or consultant
• ❌ A bank, financial institution, or loan provider
• ❌ A loan broker or intermediary
• ❌ Authorized to approve, process, or disburse loans
• ❌ A guarantor of loan approval or specific rates

2. NO FINANCIAL ADVICE

2.1 Professional Consultation Required

Before making any financial decisions, you should:

• Consult with qualified financial advisors who are licensed and authorized
• Verify all information directly with respective banks and financial institutions
• Read all loan documents and terms & conditions carefully
• Understand your financial situation and borrowing capacity
• Seek legal advice if necessary before signing loan agreements
• Consider your personal circumstances before making decisions

2.2 Individual Circumstances

The information on BestRate.lk is general in nature and does not take into account:

• Your specific financial situation
• Your income and employment status
• Your credit history and credit score
• Your existing debts and liabilities
• Your personal goals and objectives
• Your risk tolerance
• Your family circumstances

3. ACCURACY OF INFORMATION

3.1 Interest Rates and Loan Terms

We strive to keep information up-to-date, but we cannot guarantee:

• The accuracy of interest rates displayed
• That rates are current or will be honored by banks
• That loan terms are complete or accurate
• That fees and charges are fully disclosed
• That eligibility criteria are comprehensive

3.2 Calculation Accuracy

Our EMI calculators and comparison tools:

• Provide estimates only, not exact figures
• May not include all fees, charges, and taxes
• Use standard formulas that may differ from bank calculations
• Do not account for variable interest rates or special conditions
• Should be verified with respective banks

3.3 Third-Party Information

Information about banks, interest rates, and loan products is obtained from:

• Bank websites and official publications
• Public announcements and press releases
• Third-party data providers
• User submissions and feedback

We are not responsible for:

• Errors or omissions in third-party information
• Changes made by banks without notification
• Discrepancies between our data and bank data
• Outdated or obsolete information

4. NO GUARANTEE OF LOAN APPROVAL

4.1 Loan Approval Factors

Loan approval depends on many factors controlled by banks, including:

• Credit score and credit history
• Income and employment stability
• Debt-to-income ratio
• Collateral value (for secured loans)
• Bank's internal policies and criteria
• Economic conditions and lending policies
• Documentation and verification

4.2 Bank Discretion

All loan decisions are made solely by the respective banks. BestRate.lk has:

• ❌ No influence over loan approval decisions
• ❌ No authority to approve or reject applications
• ❌ No control over interest rates offered
• ❌ No responsibility for bank decisions

5. EXTERNAL LINKS DISCLAIMER

5.1 Third-Party Websites

BestRate.lk contains links to external websites, including bank websites and other financial resources. These links are provided for your convenience only.

5.2 Your Responsibility

When you click on external links and leave BestRate.lk:

• You are subject to the terms and policies of those websites
• We are not responsible for any loss or damage
• You should review their privacy policies
• You assume all risks associated with their use

5.3 Bank Relationships

BestRate.lk is an independent comparison platform. We:

• Are not affiliated with any specific bank
• Do not receive compensation from banks for listings (unless disclosed)
• Maintain editorial independence
• Strive to provide unbiased comparisons

6. LIMITATION OF LIABILITY

6.1 Financial Losses

We are NOT liable for any financial losses, including:

• Losses from loan decisions
• Higher interest rates than expected
• Loan rejection or denial
• Fees and charges not disclosed
• Penalties for early repayment
• Changes in loan terms
• Default or foreclosure

6.2 Technical Issues

We are not responsible for:

• Website downtime or unavailability
• Calculation errors or bugs
• Data loss or corruption
• Security breaches (despite our best efforts)
• Compatibility issues with your device

6.3 Maximum Liability

In any case, our total liability shall not exceed the amount you paid us (if any) in the 12 months preceding the claim, or LKR 10,000, whichever is less.

7. SPECIFIC DISCLAIMERS

7.1 Sri Lankan Market

BestRate.lk focuses on the Sri Lankan loan market. Information may not be applicable to other countries or jurisdictions.

7.2 Regulatory Compliance

We are not responsible for:

• Banks' compliance with Central Bank of Sri Lanka regulations
• Changes in banking laws and regulations
• Disputes between you and banks
• Legal issues arising from loan agreements

7.3 Currency and Exchange Rates

All amounts are in Sri Lankan Rupees (LKR) unless otherwise stated. Exchange rates and currency conversions are for reference only.

7.4 Tax Implications

7.5 Insurance and Protection

Information about loan insurance, credit protection, and other insurance products is for informational purposes only. We are not licensed insurance agents or brokers.

8. USER RESPONSIBILITIES

8.1 Due Diligence

You are responsible for:

• ✅ Conducting your own research and due diligence
• ✅ Verifying all information with respective banks
• ✅ Reading and understanding loan documents
• ✅ Assessing your own financial situation
• ✅ Seeking professional advice when needed
• ✅ Making informed decisions

8.2 Loan Obligations

8.3 Accuracy of Input

When using our calculators, you are responsible for:

• Entering accurate and correct information
• Understanding the assumptions used in calculations
• Verifying results independently
• Not relying solely on our calculations

9. CHANGES TO DISCLAIMER

9.1 Right to Modify

We reserve the right to modify this disclaimer at any time without prior notice. Changes will be effective immediately upon posting on the website.

9.2 Your Responsibility

It is your responsibility to:

• Review this disclaimer periodically
• Check the "Last Updated" date
• Understand any changes made
• Stop using the service if you disagree with changes

9.3 Continued Use

Your continued use of BestRate.lk after changes to this disclaimer constitutes your acceptance of the modified disclaimer.

10. GOVERNING LAW

10.1 Jurisdiction

This disclaimer shall be governed by and construed in accordance with the laws of the Democratic Socialist Republic of Sri Lanka.

10.2 Disputes

Any disputes arising from or related to this disclaimer or your use of BestRate.lk shall be subject to the exclusive jurisdiction of the courts of Colombo, Sri Lanka.

10.3 Severability

If any provision of this disclaimer is found to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.

11. CONTACT INFORMATION

If you have any questions or concerns about this disclaimer, please contact us:

12. ACKNOWLEDGMENT AND ACCEPTANCE

13. ADDITIONAL IMPORTANT NOTICES

13.1 Borrowing Responsibly

13.2 Warning Signs

Be cautious and seek help if you experience:

• Difficulty making monthly payments
• Using one loan to pay another
• Receiving calls from debt collectors
• Stress and anxiety about debt
• Hiding debt from family members

13.3 Where to Get Help

If you're struggling with debt, contact:

• Central Bank of Sri Lanka: Financial Consumer Protection Department
• Credit Counseling Services: Professional debt counselors
• Legal Aid: For legal issues related to loans
• Bank Customer Service: Discuss repayment difficulties

13.4 Scam Warning

14. RELATED LEGAL DOCUMENTS

This disclaimer should be read in conjunction with:

All these documents together form the complete legal framework for your use of BestRate.lk. Please read them all carefully.