Furniture And Appliance Loan
This is where the customer utilizes their furniture and appliance receipt to secure the loan. The customer will place a standing order / direct debit on their bank account to repay the loan. The appliances must be in great condition and value between two to three times the amount of the loan.
Minimum/Maximum is $50,000-$200,000 and the average interest is 4%-9% per month.
About Furniture and Appliance Loan
Furniture can be an expensive purchase. Buying it in cash is not always possible, so people look forward to furniture loans. Our Furniture & Appliance loan is the perfect solution that can give your home a stylish and modern touch with new interior decor. After the approval of the loan, the customer has to repay the amount in the fixed duration along with the interest to the lender.
4-9% Interest Rate
Loan Eligibility
You can choose to use existing furniture to secure your loan or have us purchase new ones for you. Either way we will utilize the receipts as security for the loan. You must meet the following requirements to be eligible for a Loan:
| Age Limit | The applicant should be min 18 years or older. |
| Income | Income can be generated from regular salary, and business income. |
| Residence | Applicant must be a resident of Jamaica. |
| Bank Account | Applicants must have an active bank account |
| Guarantor | The customer may or may not require a guarantor, this is dependent on the type of loan. Speak to your credit officer |
Documentation
Requirement for Furniture and Appliance Loans and Electronic Paid Customers
- 2 Passport-sized photographs of all applicants / co-applicants.
- 3 Last Pay Slips & Job Letter
- Valid identification: (National ID, Driver’s License, Passport, Jamaica ID Card
- Tax Registration Number (TRN)
- Receipt for an item at home (valuing more than the loan required)
- Proof of address
- Updated bank statement for the past 6-8 months
- Guarantor (person to sign) Needs 1 Passport Size Picture, ID, TRN, 1 Last payslip & Job Letter
- Site Visit
FAQ
Loans are a popular borrowing option that offer competitive interest rates with a predictable monthly payment. If you’re considering applying for a Loan from E-Loan MF Limited, start here if you have questions.
The average interest is 4-9% per month.
Minimum is $50,000.
Maximum is $200,000.
Loan approval and funding can occur on the same day.
Guarantors are optional depending on the loan amount you are accessing. Speak to your representative
Apply Now
Applying for a furniture and appliances loan is quick and easy with E-Loan MF Limited. We Don't Just Grant Loans We Satisfy Financial Appetites. Get started on your online loan application today.