Terms of Service · Ellits Payday Loan

1. Eligibility

To borrow from Ellits Payday Loan you must be at least 18 years old, reside in the Cayman Islands, have valid government-issued identification, and provide verifiable proof of income.

2. Loan Terms

Standard loan term: 14 days
First-time borrowers: up to CI$300
Fees: 25% for loans up to $300, 20% for loans above $300
Non-refundable processing fee: CI$15.00

3. Repayment

Full repayment (principal + fee) is due on the agreed due date. On-time repayment builds your credit history with us and unlocks higher limits and reduced fees.

4. Late Fees

If repayment is not received by the due date, late fees apply. Contact us before your due date to arrange an extension at the reduced $10/day rate for the first 3 days.

5. Default & Collection

Loans not repaid within a reasonable period after the due date may be referred to collections. This may affect your ability to borrow from us in the future and may be reported to relevant authorities.

6. Responsible Borrowing

Payday loans are short-term financial products. Only borrow what you can repay on time. If you are experiencing financial difficulty, please contact us early to discuss options.

7. Governing Law

These terms are governed by the laws of the Cayman Islands.

8. Contact

Ellits Payday Loan · WhatsApp +1 (345) 323-5493