Loan Options

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PayDay Loan

Loans on Demand allow customers to access loans for personal reasons such as medical bills, school fees, day to day expenses and other emergencies. Our loan has a maximum repayment term of up to three (3) months depending on the amount you borrow. We accept collateral which is normally held until loans are repaid if salary deduction is not available.

Amount We Lend

At Loans on Demand, we lend a maximum of $30,000 JMD to our loyal customers that work within Montego Bay. With this amount, you will be able to take care of any small challenge that pops up before you are able to collect your salary. New members are only qualified for up to $20,000 JMD unless pre-approved for a higher amount.

Collateral

Security collateral we accept are electronics in support of loans that are not salary deducted. Assets must, however, have a market value of at least twice the value of the loan. These items include Laptops, Flat Screen TV, Phones, etc. In order to make loans easily accessible, we also hold important documents such as motor vehicle and land title, however, these are only available for relatively small loan amounts.

Interest Rate 20%

We offer a Low-interest rate of 20% on all loans. No matter the size, from the minimum of $5,000 to the maximum of $30,000 the interest rate stays the same.

Requirements to Apply

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With Salary Deduction

- Job Letter

- Employed for 6 Months

- Valid ID e.g. Voters ID

- One Passport size photo. Can be Digital

- Proof of income - Last (3) payslips

- Two references - Name, & number

- Taxpayer Registration Number (TRN)

- Work within Montego Bay

Without Salary Deduction

- Job Letter

- Employed for 6 Months

- Proof of Address

- Valid ID e.g. Voters ID

- One Passport size photo. Can be Digital

- Proof of income - Last (3) payslips

- Two references - Name, & number

- Taxpayer Registration Number (TRN)

- 3 Months Bank Statement

- Collateral to cover Loan security

- Work within Montego Bay