Unsecured Loans
This is where customers can access cash from $5,000 to $50,000 without security and without a guarantor given that they receive their salary through a bank such as NCB or Scotia Bank. An unsecured loan facility is most suitable for a customer who has short-term needs and does not have the option of salary deduction or collateral for a loan. A New Rookie customer, which is a customer who is employed between 3-weeks and 4-months will not be able to access over $35,000 in unsecured loans and in some cases will require a guarantor.
About Unsecured Loan
An unsecured loan facility is most suitable for a customer who has short term needs and does not have the option of salary deduction or collateral for a loan.
3-5% Per Month Interest Rate
Loan Eligibility
You must meet the following requirements to be eligible for a Loan:
| Age Limit | The applicant should be min 18 years or older. |
| Income | Applicant must be able to show their proof of income via payslip or bank statement. |
| Residence | Applicant must be a resident of Jamaica and must be able to provide proof of address |
| Bank Account | Customer must have an active bank account, that their salary or income is paid to. |
| 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 Unsecured Loans
- 2 Passport sized photographs of all applicants / co-applicants.
- 3 Last Pay Slips
- Valid identification: (National ID, Driver’s License, Passport, Jamaica ID Card
- Tax Registration Number (TRN)
- Proof of address (Light bill, Water bill or Internet bill)
- Updated Bank Statement for the Past 8 Months
- Guarantor (person to sign) Needs TRN, ID, 1 Passport size picture, 1 Last payslip & Job Letter
FAQ
E-Loan Micro Financing Limited provides emergency, easy and economical loans, to satisfy the financial wants and needs of our customers. If you are considering applying for a loan from E-Loan MF Limited we offer custom-made packages to suit your needs. Start here if you have any questions.
The average interest is 3%-5% per month.
Minimum is $5000.
Maximum is $600,000.
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 an unsecured 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.