Do I need an .SRT lyric file?

I don’t have an SRT file. How can I turn text into a lyric file for Videobolt?

Not at all. You can create lyrics from scratch by choosing "Create lyrics" when adding lyrics.

Add lyrics to your video by clicking the "Lyrics" placeholder, then choose the import option which suits you. Please note that you'll need to add your song to the "Track" placeholder before you can add lyrics.