Is this a SCAM?

John Williams to me
show details 8:08 PM (14 hours ago)


MERCHANT LENDERS
Dear Applicant,

We received your email and its content was well understood, but before we may proceed, i want you to read MERCHANT LENDERS terms of service and operations, to put you on the safer side.

Qualifications:
1) The Borrower must be at least 18 years old
2) Even with Bad credit, we still Guarantee the Borrower the Loan
3) The Loan Can Be Granted Even With No Collateral Present (Unsecured)
4) Proof And Documentation Of Worth, Asset And Properties Must Be Available
5) There is no pre-payment penalty.
6) You do not need a Co-signer
Loan Repayments:
Repayment is made Monthly or Yearly depending on the choice of the borrower And the Agreement with MERCHANT LENDERS
and The repayment schedule for a Loan have to be agreed by the Applicant before transfer commerce.
Loan Approval/Processed:
In regards to the approval of the loan, the loan will be approve as soon as the loan application form is filled and returned, if you are in agreement you are advised to get back to us with the loan application form filled and return in your next email to MERCHANT LENDERS financial company.

Interest Rate:
The Interest rate applicable to all Loans is 3%

Mode Of Loan Transfer To The Borrower:
The Loan Is Transferred to the Borrower via
1)Diplomatic medium
2)Bank to Bank transfer
3)ATM wire transfer
4)Courier delivery service/Cheque
5)Cash Pick Up.

In acknowledge to this you are to get back to us to know the mode of transfer you wish to receive your loan.
If you agree to this, do fill the form below, we await your response soon

LOAN APPLICATION FORM TO BE FILLED AND RETURNED

PERSONAL INFORMATION
First/last Name:......................
Contact Address:....................
City/Zip Code:.........................
State:.......................................
Country:...................................
Gender:....................................
Occupation..............................
Position Held at Work:............
Employer/Company Name......
Monthly income:.....................
Date of birth:...........................
Nest of kin:..............................
Address of nest of kin:............
Tel:..........................................
Fax:..........................................

LOAN INFORMATION
Amount Needed:.....................................
Purpose Of Loan:....................................
Loan Term & Duration:...........................
Telephone: .............................................
Fax:..........................................................
Company Name (Company owners): ......
On your reply to this email Attach scanned copies of all the documents of your asset and properties with its worth specified

I HEREBY DECLARE THAT THE INFORMATION GIVEN
ABOVE ARE TRUE.
DATE:

Warning from MERCHANT LENDERS (ML)
The information contained in this email transmission is confidential and for the exclusive use of the intended recipient(s). If you are not the Intended recipient, you are hereby notified that any use, disclosure, dissemination, distribution (other than to the recipient), copying or
Taking any action because of this information is strictly prohibited

Hello manoynav. In a word, YES it is a scam.

Lenders don't give those kinds of options to receive the proceeds from the loan. The interest rate on an unsecured loan is ALWAYS higher than on a secured loan. You thought it sounded too good to be true...

Please post up the email address and any website address if you have one.