Find the Edu-Loan solution for you.
Advance your Education
Flexible loan options to help with your tuition and educational expenses
Education Loans Jamaica - Your #1 Pick
Education and knowledge is the doorway to opportunity and growth in your life. The ability to one day earn a good living for yourself and your family.
Gain access to higher education with assistance from Torpedo Loan’s Education Loan
Torpedo's Education Loan is Perfect for:
Tuition Fees
Purchasing Books
Examination Fees
Torpedo Loan offers amazingly low interest rates and flexible repayment options. To apply for a loan all you need to do is click here or "APPLY NOW" in the menu, pay the application fee and then Fill out all the applicable information. We will then reach out to you if you qualify for the next step to visit our friendly staff at any one of our Islandwide branches. Bring along your:
- TRN
- ID
- Photograph of yourself
The processing fee is $5000. Once your loan is processed you will be immediately contacted by one our representative to update you on your loan status
What are the requirements to get an educational loan?
What documents do I need to submit?
You will need your ID, TRN and a passport sized Photograph
How long does an Education loan take to process?
The entire process can be as quick as 2-3 business days and you can receive your loan amount
How long will I have to pay it back?
What is the interest rate and is it a fixed rate?
Do I need collateral?
We offer no collateral up to a certain amount. This is also dependent on the quality of the application
How can I make loan payments?
You can make loan payments in branch or via bank transfer.
Do I need to visit a branch to finalize a loan?
You can submit your application online and pay processing fees online. But you will then have to come into brand to do an interview to determine whether you are eligible for the loan.
Preparing for Higher Education
Our Financial Tips:
- Start saving from early! “Every Mickle make a Muckle”
- Determine if you want to study full time or if it might be better to stretch your studies over a period of time while you are working
- Are you studying at an institution that is close to home or far away such as in another parish or even country? This will affect your overall expenses
- Choose a career path that you are passionate about, but one that is also financially rewarding. Find that sweet spot!
Helpful Links:
Take a personality to test to see what you should study at university: https://www.mastersportal.com/personality-test/
Explore scholarship opportunities: https://scholarshipjamaica.com/
10 Bachelor’s Degree programs to look at when you don’t know what to pick: https://www.bachelorsportal.com/articles/2514/top-10-bachelors-subjects-to-study-when-you-dont-know-what-career-to-pick.html
