Personal loan rates in Jamaica, lender by lender.
What Jamaican banks, a building society and a credit union publish for personal and unsecured loans, and the day we read each one. Lenders that publish no rate are here too, with a link to their own page.
Figures checked against official sources on .See the sources
Figures checked on
We read each lender’s own page and check them all again every month, so this page is refreshed monthly. The table shows the day we read each row.
Lowest published rate, unsecured
13.99%
NCB: Top-Up Unsecured loan. Fixed rate, APR. Scotiabank’s range starts at 18.00%. Source.
Bank of Jamaica average, personal loans
24.67%
The average across all commercial banks, July 2026. Source.
A rate shown as a range runs from low to high depending on the borrower, so the lowest published rate is the bottom of that range and comes with conditions. Put a rate, the term and the fee into the loan calculator to see the monthly payment and the yearly cost with fees.
Banks
| Lender | Rate a year | Conditions | Source |
|---|---|---|---|
| ScotiabankUnsecured loan | 18.00% to 24.99% | up to 5 years. Rates are APR. | |
| NCBTop-Up Unsecured loan | 13.99% | Fixed rate, APR. | NCB's pageRead |
| JN BankUnsecured loan | 18.99% to 26.25% | up to 7 years. 5 to 7 years to repay. | JN Bank's pageRead |
| JN BankUnsecured line of credit | 17.50% to 20.50% | JN Bank's pageRead | |
| JMMB BankUnsecured loan | Not published | up to 7 years. Up to J$25 million.JMMB publishes no loan rates. Its rates sheet covers deposits only. | JMMB Bank's pageRead |
| First Global BankUnsecured loan | From 18.75%May be out of date | up to 5 years. Up to J$4 million.This page was last edited in 2021, so the rate may be out of date. | |
| CIBC CaribbeanPersonal loan | Not published | up to 5 years.CIBC has only regional pages, with no rates for Jamaica. |
Building society
| Lender | Rate a year | Conditions | Source |
|---|---|---|---|
| VM Building SocietyUnsecured loan | 17.00%May be out of date | J$500,000 to J$5 million. Fee of 3% plus GCT.VM's rate table says it took effect on 3 July 2023 and has not been updated since. The same page has a second table with no label showing 8.50% mortgages, which we do not use. |
Credit union
C&WJ is the one credit union that has an unsecured loan page we could read. See the credit union loan rates page for the others.
| Lender | Rate a year | Conditions | Source |
|---|---|---|---|
| C&WJ Co-operative Credit UnionUnsecured loan promotion | Not published | up to 5 years. Up to J$5 million, for civil servants and staff of sponsor companies.The rate is described only as "Competitive". |
Borrowing against your savings
A cash-secured loan is backed by your own savings or deposit, which is why the rate is lower.
| Lender | Rate a year | Conditions | Source |
|---|---|---|---|
| ScotiabankCash-secured loan | 9.00% to 11.00% |
What the loan costs a year
The rate is only part of it. A processing fee is a share of the loan, taken before you see the money: Scotiabank’s is 3.93%Source: Scotiabank Jamaica: retail banking fee guide (effective 1 June 2026) with a minimum of J$14,973.30, and NCB’s is 3.5%Source: NCB: customer fee guide (effective 1 September 2026). You pay interest on the whole loan but only receive what is left after the fee. On J$500,000 over 3 years at 18.00%, a 3.93% fee takes the yearly cost from 18% to 20.91%, and the monthly payment is J$18,076.20. VM Building Society’s July 2023 table lists a fee of 3% plus GCT. The loan calculator does this sum for your own figures.
If a lender quotes a flat rate, that is a different number from the reducing-balance rate banks quote, and it costs more. The loan calculator shows both side by side. If you are weighing a same-day or no-credit-check loan, put its rate and fee in there first and look at the payment against what is left after your bills.
Lenders with no published rate
JMMB Bank, CIBC Caribbean and C&WJ publish no unsecured loan rate we could read. NCB’s other unsecured loans say “Competitive” with no number, JMMB publishes no loan rates and CIBC has only regional pages. First Global Bank’s unsecured page was last edited in 2021, and VM Building Society’s table is dated July 2023, so those two carry a warning. We have not read microlenders or finance companies, so they aren’t here.
NCB’s Summer unsecured loan campaign ended on 30 September 2026, so we don’t list it as a current rate. Its page is still up.
Lender pages we read
- Scotiabank Jamaica: borrowing ratesOfficial source · read on
- NCB: loans FAQsOfficial source · read on
- NCB: summer unsecured loan campaignOfficial source · read on
- JN Bank: loans interest ratesOfficial source · read on
- JMMB Bank: loansOfficial source · read on
- First Global Bank: unsecured loanOfficial source · read on
- CIBC Caribbean: personal loansOfficial source · read on
- VM Building Society: rates and feesOfficial source · read on
- C&WJ Co-operative Credit Union: unsecured loan promotionOfficial source · read on
Questions
What is the interest rate on a personal loan in Jamaica?
It depends on the lender, the loan and you. Scotiabank publishes 18.00% to 24.99% on its unsecured loan and JN Bank 18.99% to 26.25%. The lowest published rate we found is 13.99% (NCB: Top-Up Unsecured loan. Fixed rate, APR.). The Bank of Jamaica's July 2026 average for personal loans at commercial banks is 24.67%.
Which bank has the lowest personal loan rate in Jamaica?
Among published rates, NCB has the lowest we found at 13.99%, on its Top-Up Unsecured loan. NCB's other unsecured loans say "Competitive" with no number, and JMMB Bank, CIBC Caribbean and C&WJ publish no rate we could read, so they aren't compared. You may be offered more than the lowest published rate.
What fees come with a personal loan?
Lenders charge a processing fee on top of interest. Scotiabank's is 3.93% of the loan with a minimum of J$14,973.30, and NCB's is 3.5%. On J$500,000 over 3 years at 18.00%, a fee of 3.93% taken from the loan lifts the yearly cost from 18% to 20.91%.
Is a secured loan cheaper than an unsecured one?
The published rates say so. Scotiabank's cash-secured loan, which you borrow against your own savings, is 9.00% to 11.00%, against 18.00% to 24.99% for its unsecured loan. You tie up your own money to get that rate.
How often is this page updated?
Every month. We read each lender's own page again and change any row that has moved. This page was last checked on 2 October 2026, and each row shows the day we read it.
Sources
- Bank of Jamaica: commercial banks' interest rates, table IR.CB.02 (J$ loan rates)Official source · read on
- Scotiabank Jamaica: retail banking fee guide (effective 1 June 2026)Official source · read on
- NCB: customer fee guide (effective 1 September 2026)Official source · read on
Every figure, with its status and any notes, is on our sources page.
See where your money goes before a loan and after it.
Your bank already sends you an alert for every purchase. Sign in and those same alerts come to EveryDolla, sorted and added up in J$, so you can see what is left each month once a loan payment is taken out.