JN offers the Best Rate in Town on improved Term Share Loan


JN offers the Best Rate in Town on improved Term Share Loan

Angella Smith-Richards, the first customer to enquire about the term share loan in Canada.

Savers at Jamaica National Building Society (JNBS) can now borrow up to 80 per cent of their savings in select JN Savings Accounts using the JN Term Share Loan plan; and continue to earn interest on their savings.

The JN Term Share Loan is a cash-secured facility, with an interest rate of up to 8.25 per cent per annum, says Leon Mitchell, Assistant General Manager, JN Group Marketing, Sales & Promotions. “This loan has a lower interest rate and access to a greater percentage of the saver’s portfolio; and has been offered to members since December 2011,” he explained.

The Term Share Loan is designed to address immediate needs, particularly for members who wish to finance a project or pay off personal expenses. It is a same day loan facility allowing access to loans without the need for external paperwork.

“This is an effective money management tool, offering easily accessed and affordable loans that are available at any JN full-service branches across the island,” Mr. Mitchell said. In addition, JN Money Shops and Overseas JN offices can make referrals to any full-service branch, for loan processing.

The Assistant General Manager also noted that, “The JN Term Share Loan offer allows account holders to preserve their long term savings plans while accessing low-cost financing to meet near term needs.”

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