Click right here to use for SLB PAYS Loan.

SLB PAYS Loan has:

  • The lowest rate of interest for a tuition loan;
  • Smaller; extra reasonably priced month-to-month funds;
  • Longer compensation interval;
  • Shorter processing time.

The SLB PAYS Loan can be utilized to:

  • Finance the price of tertiary tuition for dependent students and the employed part-time students:
  • Supplement different funding for tertiary training equivalent to different loans, scholarships, bursaries or grant.

Who can apply?
Person who can apply for SLB PAYS Loans – principal debtors – embrace:

  • Employed part-time Jamaican students, whose locations of employment facilitate wage deduction;
  • Jamaica residents between the ages of 18 and 65 who’re employed of their present jobs for at the least one 12 months and whose locations facilitate wage deduction.

Loan Amounts The most loan quantity is $1,000,000.00 and is pegged to the sponsors Government of Jamaica (GOJ) tuition charges on the respective tertiary establishments.

The principal borrower might entry quantities for one educational 12 months at a time. The principal can entry a most of 5 (5) SLB PAYS loan for himself/herself or for a kid/ward/partner
/good friend/worker throughout that student’s programme of examine.

Interest Rate
The SLB PAYS loan has an rate of interest of 6% on the decreasing steadiness.

Loan Period
Each loan is for the utmost interval of 84 months. The principal borrower can consolidate the principal steadiness with subsequent loans.

The interval of compensation of the SLB PAYS Loan is 84 months, compensation is by wage deduction and there’s no moratorium interval.

At least one guarantor is required for every loan. Guarantors have to be Jamaican nationals dwelling in Jamaica, formally employed of their present jobs for at the least one 12 months. Their locations of employment should facilitate wage deduction.

How to use
First, you can be required to register and full the PAYS software kind (click on right here to use), then e-mail [email protected] to set an appointment to submit the required paperwork. You will obtain affirmation of your
appointment date and time by way of e-mail inside 2 working days of submission. Should you require any extra data chances are you’ll name 936-4420,936-4462 or 936-4416.

Required Documents for Principal Borrower

  • Tax Registration Number (TRN)
  • One Passport measurement {photograph}, licensed by a JP
  • Two types of legitimate photograph identification – one of many which have to be a Passport or Driver’s License
  • Valid work identification
  • Last three pay slips
  • Proof of tackle
  • Two letters of advice are wanted and will be obtained from the next: (Justice of the Peace, Minister of Religion, Attorney-at-Law, Employer or Lecturer)
  • Letter from employer confirming their employment time and the facilitation of the wage deduction request.

Required Documents for Dependent Student

  • Acceptance letter and/or standing letter from tertiary establishment of dependent student
  • Student Identification
  • Tax Registration Number (TRN)
  • One passport measurement {photograph}, licensed by a JP

Who could be a guarantor
A Guarantor should a Jamaican nationwide dwelling in Jamaica, who’s employed to his/her present job for at the least one 12 months and whose place of employment
&nbsp&nbsp&nbsp&nbsp facilitates wage deduction.

Required Documents for Guarantors
The following paperwork are required from guarantors:

  • Two types of legitimate photograph identification – one in all which have to be a Passport or a Driver’s License
  • A job letter or three pay slips
  • Tax Registration Number (TRN)
  • Letter from Employers confirming facilitation of wage deduction

Application Fees
A non-refundable software price of $950.00 needs to be paid upon submission of an software.

Processing Fee
A non-refundable software price of $5,250.00 needs to be paid upon submission of an software.

An insurance premium at a fee of $0.50 per $1,000.00 borrowed over the tenure of the loan must be paid when coming in in your appointment.

Credit Report
A non-refundable credit report price of $800.00 needs to be paid when the applying is being submitted.

For extra data on the SLB PAYS Loan and different nice loan choices to help tertiary students to appreciate their desires, go to our web site or name at: 754-2559 / 936-4416

More Required Documents(click on every doc to obtain):

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