<PAGE>   1

      As filed with the Securities and Exchange Commission on July 30, 1999
                                                           Registration No. 333
================================================================================
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  ------------

                                    FORM S-8
                             REGISTRATION STATEMENT
                                      UNDER
                           THE SECURITIES ACT OF 1933

                                  ------------

                                  E-LOAN, INC.
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
<TABLE>
<S>                                     <C>                                    <C>

              DELAWARE                              6162                             77-0460084
  (STATE OR OTHER JURISDICTION OF       (PRIMARY STANDARD INDUSTRIAL              (I.R.S. EMPLOYER
   INCORPORATION OR ORGANIZATION)       CLASSIFICATION CODE NUMBER)            IDENTIFICATION NUMBER)
</TABLE>

                           5875 ARNOLD ROAD, SUITE 100
                                DUBLIN, CA 94568
                                 (925) 241-2400


  (ADDRESS, INCLUDING ZIP CODE, AND TELEPHONE NUMBER, INCLUDING AREA CODE, OF
                   REGISTRANT'S PRINCIPAL EXECUTIVE OFFICES)

                                 1997 STOCK PLAN
                        1999 EMPLOYEE STOCK PURCHASE PLAN
                            (FULL TITLE OF THE PLANS)

                                  ------------

                                  CHRIS LARSEN
                             CHIEF EXECUTIVE OFFICER
                                  E-LOAN, INC.
                           5875 ARNOLD ROAD, SUITE 100
                                DUBLIN, CA 94568
                                 (925) 241-2400
 (NAME, ADDRESS, INCLUDING ZIP CODE, AND TELEPHONE NUMBER, INCLUDING AREA CODE,
                             OF AGENT FOR SERVICE)

                                  -----------

                                   Copies to:
                              MARIO M. ROSATI, ESQ.
                              ISSAC J. VAUGHN, ESQ.
                        WILSON SONSINI GOODRICH & ROSATI
                            PROFESSIONAL CORPORATION
                               650 PAGE MILL ROAD
                               PALO ALTO, CA 94304
                                 (650) 493-9300

                                  ------------

        APPROXIMATE DATE OF COMMENCEMENT OF PROPOSED SALE TO THE PUBLIC: As soon
as practicable after the effective date of this Registration Statement.

        If any of the securities being registered on this Form are to be offered
on a delayed or continuous basis pursuant to Rule 415 under the Securities Act
of 1933, check the following box. [X]

                                  ------------

================================================================================

<PAGE>   2
<TABLE>
<CAPTION>

                                                  CALCULATION OF REGISTRATION FEE
====================================================================================================================================
                                                                           PROPOSED
                                                                           MAXIMUM             PROPOSED
                                                     AMOUNT                OFFERING            MAXIMUM
     TITLE OF EACH CLASS OF SECURITIES TO             TO BE                 PRICE             AGGREGATE                 AMOUNT OF
                 BE REGISTERED                     REGISTERED             PER SHARE         OFFERING PRICE          REGISTRATION FEE
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                <C>                    <C>               <C>                     <C>
1997 Stock Plan
Common Stock,  $0.001 par value
(currently outstanding options) (1) ...........    6,104,836 share        $ 2.661794012     $ 16,249,815.90             $ 4,517.45
------------------------------------------------------------------------------------------------------------------------------------
1997 Stock Plan
Common Stock, $0.001 par value
(options available for future grant) (2).......    3,673,627 shares       $40.21875         $147,748,685.90             $41,074.13
------------------------------------------------------------------------------------------------------------------------------------

TOTAL 1997 STOCK PLAN SHARES REGISTERED            9,778,463 SHARES                         $163,998,501.80             $45,591.58
------------------------------------------------------------------------------------------------------------------------------------
1999 Employee Stock Purchase Plan
Common Stock, $0.001 par value (3).............    1,500,000 shares       $34.1859          $ 51,278,850.00             $14,255.52
------------------------------------------------------------------------------------------------------------------------------------

TOTAL REGISTRATION FEES                                                                                                 $59,847.10
====================================================================================================================================
</TABLE>

(1) The computation is based upon the weighted average exercise price per share
    of $2.661794012 as to 6,104,836 outstanding but unexercised options to
    purchase Common Stock under the 1997 Stock Plan (the "Currently Outstanding
    Options").

(2) The Proposed Maximum Offering Price Per Share has been estimated in
    accordance with Rule 457(h) under the Securities Act of 1933 as to the
    remaining 3,673,627 shares of Common Stock authorized for issuance pursuant
    to the 1997 Stock Plan, solely for the purpose of calculating the
    registration fee. No options have been granted with respect to such shares.
    The computation is based upon the average of the high and low price of the
    Common Stock as reported on the Nasdaq National Market on July 29, 1999
    because the price at which the options to be granted in the future may be
    exercised is not currently determinable.

(3) The Proposed Maximum Offering Price Per Share has been estimated in
    accordance with Rule 457(h) under the Securities Act of 1933 solely for the
    purpose of calculating the registration fee. The computation is based upon
    85% (see explanation in following sentence) of the average of the high and
    low price of the Common Stock as reported on the Nasdaq National Market on
    July 29, 1999 because the price at which the options to be granted in the
    future may be exercised is not currently determinable. Pursuant to the
    Employee Stock Purchase Plan, which plan is incorporated by reference
    herein, the Purchase Price of a share of Common Stock shall mean an amount
    equal to 85% of the Fair Market Value of a share of Common Stock on the
    Enrollment Date or the Exercise Date, whichever is lower.


                                      -2-
<PAGE>   3

                                     PART II

               INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

ITEM 3.        INFORMATION INCORPORATED BY REFERENCE.

        The following documents and information previously filed with the
Securities and Exchange Commission are hereby incorporated by reference:

        (a) The audited financial statements for the Registrant's fiscal year
            ended December 31, 1998 contained in the Prospectus, dated June 28,
            1999, filed pursuant to Rule 424(b)(4) under the Securities Act of
            1933 on June 29, 1999.

        (b) The description of the Common Stock of the Registrant that is
            contained in the Registration Statement on Form 8-A filed pursuant
            to Section 12 of the Exchange Act on March 24, 1999.

        (c) All documents filed by the Registrant pursuant to Sections 13(a),
            13(c), 14 and 15(d) of the Exchange Act subsequent to the filing of
            this Registration Statement and prior to the filing of a
            post-effective amendment which indicates that all securities offered
            have been sold or which deregisters all securities then remaining
            unsold, shall be deemed to be incorporated by reference in the
            Registration Statement and to be part hereof from the date of filing
            of such documents.

ITEM 4.        DESCRIPTION OF SECURITIES.

        Not applicable.

ITEM 5.        INTERESTS OF NAMED EXPERTS AND COUNSEL.

        Mario M. Rosati and Issac J. Vaughn, members of Wilson Sonsini Goodrich
& Rosati, Professional Corporation, are Assistant Secretaries of the Registrant.
Wilson Sonsini Goodrich & Rosati is corporate counsel to the Registrant.

ITEM 6.        INDEMNIFICATION OF DIRECTORS AND OFFICERS.

        The Registrant has adopted provisions in its Certificate of
Incorporation that eliminate the personal liability of its directors and
officers for monetary damages arising from a breach of their fiduciary duties in
certain circumstances to the fullest extent permitted by law and authorizes the
Registrant to indemnify its directors and officers to the fullest extent
permitted by law. Such limitation of liability does not affect the availability
of equitable remedies such as injunctive relief or rescission.

        The Registrant's Bylaws provide that the Registrant shall indemnify its
directors and officers to the fullest extent permitted by the General
Corporation Law of Delaware, including circumstances in which indemnification is
otherwise discretionary under Delaware law. Section 145 of the General
Corporation Law of Delaware provides for the indemnification of officers,
directors and other corporate agents in terms sufficiently broad to indemnify
such persons, under certain circumstances, for certain liabilities (including
reimbursement of expenses incurred) arising under the Securities Act of 1933
(the "Securities Act"). The Registrant has entered into indemnification
agreements to such effect with its officers and directors containing provisions
which are in some respects broader than the specific indemnification provisions
contained in the General Corporation Law of Delaware. The indemnification
agreements may require the Company, among

                                      II-1

<PAGE>   4

other things, to indemnify such officers and directors against certain
liabilities that may arise by reason of their status or service as directors or
officers (other than liabilities arising from willful misconduct of a culpable
nature) and to advance their expenses incurred as a result of any proceeding
against them as to which they could be indemnified.

ITEM 7.        EXEMPTION FROM REGISTRATION CLAIMED.

        Not applicable.

ITEM 8.        EXHIBITS.

        The Exhibits listed on the accompanying Index to Exhibits are filed as
part hereof, or incorporated by reference into, this Registration Statement.
(See Exhibit Index below).

ITEM 9.        UNDERTAKINGS.

        (a) The undersigned Registrant hereby undertakes:

               (1) To file, during any period in which offers or sales are being
made, a post-effective amendment to this Registration Statement to include any
material information with respect to the plan of distribution not previously
disclosed in the Registration Statement or any material change to such
information in the Registration Statement.

               (2) That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.

               (3) To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the
termination of the offering.

        (b) The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
Registrant's annual report pursuant to section 13(a) or section 15(d) of the
Securities Exchange Act of 1934 (and, where applicable, each filing of an
employee benefit plan's annual report pursuant to Section 15(d) of the
Securities Exchange Act of 1934) that is incorporated by reference in the
Registration Statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be an initial bona fide offering thereof.

        (c) Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise,
the Registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed
in the Securities Act and is, therefore, unenforceable. In the event that a
claim for indemnification against such liabilities (other than the payment by
the Registrant of expenses incurred or paid by a director, officer or
controlling person of the Registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person
in connection with the securities being registered, the Registrant will, unless
in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue.

                                      II-2

<PAGE>   5
                                   SIGNATURES

        Pursuant to the requirements of the Securities Act of 1933, the
Registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized in the City of Palo Alto, State of California on July 30, 1999.

                                      E-LOAN, INC.

                                      By: /s/ FRANK SISKOWSKI
                                          -------------------------------------
                                          Frank Siskowski
                                          Chief Financial Officer and Secretary

                                POWER OF ATTORNEY

        KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature
appears below constitutes and appoints Chris Larsen and Frank Siskowski, jointly
and severally, his attorneys-in-fact, each with the power of substitution, for
him in any and all capacities, to sign any amendments to this Registration
Statement on Form S-8, and to file the same, with exhibits thereto and other
documents in connection therewith, with the Securities and Exchange Commission,
hereby ratifying and confirming all that each of said attorneys-in-fact, or his
substitute or substitutes, may do or cause to be done by virtue hereof.

         Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities and on the date indicated.
<TABLE>
<CAPTION>

             SIGNATURE                               TITLE                          DATE
------------------------------------          ----------------------            -------------
<S>                                           <C>                               <C>
 /s/ CHRIS LARSEN                             Director and Chief
------------------------------------          Executive Officer*                July 30, 1999
Chris Larsen

 /s/ JANINA PAWLOWSKI                         Director and President*
------------------------------------
Janina Pawlowski                                                                July 30, 1999

 /s/ FRANK SISKOWSKI                          Chief Financial Officer and
------------------------------------          Secretary (Principal
Frank Siskowski                               Financial and Accounting
                                              Officer)                          July 30, 1999

 /s/ IRA EHRENPREIS                           Director*
------------------------------------
Ira M. Ehrenpreis                                                               July 30, 1999

 /s/ ROBERT C. KAGLE                          Director*
------------------------------------
Robert C. Kagle                                                                 July 30, 1999

 /s/ TIM KOOGLE                               Director*
------------------------------------
Tim Koogle                                                                      July 30, 1999

   /s/ WADE RANDLETT                          Director*
------------------------------------
Wade Randlett                                                                   July 30, 1999
</TABLE>

*   The employee benefit plans being registered pursuant to this Registration
    Statement are subject to administration by the Board of Directors of the
    Registrant.

                                      II-3
<PAGE>   6

                                INDEX TO EXHIBITS


<TABLE>
<CAPTION>

                                                                                    SEQUENTIALLY
                                                                                       NUMBERED
  EXHIBIT NUMBER                           EXHIBIT DOCUMENT                              PAGE
------------------  --------------------------------------------------------------  --------------
<S>                 <C>
          4.1*      Certificate of Incorporation of Registrant

          4.2*      Bylaws of Registrant

          4.3*      1997 Stock Plan

          4.4*      1999 Employee Stock Purchase Plan

          5.1       Opinion of Wilson Sonsini Goodrich & Rosati, Professional
                    Corporation, as to the legality of securities being
                    registered (Counsel to the Registrant)

         23.1       Consent of PricewaterhouseCoopers LLP (Independent Accountants)

         23.2       Consent of Wilson Sonsini Goodrich & Rosati, Professional
                    Corporation (contained in Exhibit 5.1 hereto)

         24.1       Power of Attorney (see page II-3)
</TABLE>

---------------

*       Incorporated by reference to the Company's Registration Statement on
        Form S-1 (File No. 333-74945), effective June 28, 1999.


                                      II-4
[{"type": "S-8", "sequence": "1", "description": "FORM S-8", "secsgml_size_bytes": 19172}]
{"company-data": {"conformed-name": "E LOAN INC", "cik": "0001082337", "assigned-sic": "6162", "irs-number": "770460084", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-84211", "film-number": "99675414"}, "business-address": {"street1": "5875 ARNOLD RD., SUITE 100", "city": "DUBLIN", "state": "CA", "zip": "94568", "phone": "9252412402"}}
1

      As filed with the Securities and Exchange Commission on July 30, 1999
                                                           Registration No. 333
================================================================================
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  ------------

                                    FORM S-8
                             REGISTRATION STATEMENT
                                      UNDER
                           THE SECURITIES ACT OF 1933

                                  ------------

                                  E-LOAN, INC.
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE                              6162                             77-0460084
  (STATE OR OTHER JURISDICTION OF       (PRIMARY STANDARD INDUSTRIAL              (I.R.S. EMPLOYER
   INCORPORATION OR ORGANIZATION)       CLASSIFICATION CODE NUMBER)            IDENTIFICATION NUMBER)
5875 ARNOLD ROAD, SUITE 100
                                DUBLIN, CA 94568
                                 (925) 241-2400

  (ADDRESS, INCLUDING ZIP CODE, AND TELEPHONE NUMBER, INCLUDING AREA CODE, OF
                   REGISTRANT'S PRINCIPAL EXECUTIVE OFFICES)

                                 1997 STOCK PLAN
                        1999 EMPLOYEE STOCK PURCHASE PLAN
                            (FULL TITLE OF THE PLANS)

                                  ------------

                                  CHRIS LARSEN
                             CHIEF EXECUTIVE OFFICER
                                  E-LOAN, INC.
                           5875 ARNOLD ROAD, SUITE 100
                                DUBLIN, CA 94568
                                 (925) 241-2400
 (NAME, ADDRESS, INCLUDING ZIP CODE, AND TELEPHONE NUMBER, INCLUDING AREA CODE,
                             OF AGENT FOR SERVICE)

                                  -----------

                                   Copies to:
                              MARIO M. ROSATI, ESQ.
                              ISSAC J. VAUGHN, ESQ.
                        WILSON SONSINI GOODRICH & ROSATI
                            PROFESSIONAL CORPORATION
                               650 PAGE MILL ROAD
                               PALO ALTO, CA 94304
                                 (650) 493-9300

                                  ------------

        APPROXIMATE DATE OF COMMENCEMENT OF PROPOSED SALE TO THE PUBLIC: As soon
as practicable after the effective date of this Registration Statement.

        If any of the securities being registered on this Form are to be offered
on a delayed or continuous basis pursuant to Rule 415 under the Securities Act
of 1933, check the following box. [X]

                                  ------------

================================================================================
2
CALCULATION OF REGISTRATION FEE
====================================================================================================================================
                                                                           PROPOSED
                                                                           MAXIMUM             PROPOSED
                                                     AMOUNT                OFFERING            MAXIMUM
     TITLE OF EACH CLASS OF SECURITIES TO             TO BE                 PRICE             AGGREGATE                 AMOUNT OF
                 BE REGISTERED                     REGISTERED             PER SHARE         OFFERING PRICE          REGISTRATION FEE
------------------------------------------------------------------------------------------------------------------------------------
1997 Stock Plan
Common Stock,  $0.001 par value
(currently outstanding options) (1) ...........    6,104,836 share        $ 2.661794012     $ 16,249,815.90             $ 4,517.45
------------------------------------------------------------------------------------------------------------------------------------
1997 Stock Plan
Common Stock, $0.001 par value
(options available for future grant) (2).......    3,673,627 shares       $40.21875         $147,748,685.90             $41,074.13
------------------------------------------------------------------------------------------------------------------------------------

TOTAL 1997 STOCK PLAN SHARES REGISTERED            9,778,463 SHARES                         $163,998,501.80             $45,591.58
------------------------------------------------------------------------------------------------------------------------------------
1999 Employee Stock Purchase Plan
Common Stock, $0.001 par value (3).............    1,500,000 shares       $34.1859          $ 51,278,850.00             $14,255.52
------------------------------------------------------------------------------------------------------------------------------------

TOTAL REGISTRATION FEES                                                                                                 $59,847.10
====================================================================================================================================
(1) The computation is based upon the weighted average exercise price per share
    of $2.661794012 as to 6,104,836 outstanding but unexercised options to
    purchase Common Stock under the 1997 Stock Plan (the "Currently Outstanding
    Options").

(2) The Proposed Maximum Offering Price Per Share has been estimated in
    accordance with Rule 457(h) under the Securities Act of 1933 as to the
    remaining 3,673,627 shares of Common Stock authorized for issuance pursuant
    to the 1997 Stock Plan, solely for the purpose of calculating the
    registration fee. No options have been granted with respect to such shares.
    The computation is based upon the average of the high and low price of the
    Common Stock as reported on the Nasdaq National Market on July 29, 1999
    because the price at which the options to be granted in the future may be
    exercised is not currently determinable.

(3) The Proposed Maximum Offering Price Per Share has been estimated in
    accordance with Rule 457(h) under the Securities Act of 1933 solely for the
    purpose of calculating the registration fee. The computation is based upon
    85% (see explanation in following sentence) of the average of the high and
    low price of the Common Stock as reported on the Nasdaq National Market on
    July 29, 1999 because the price at which the options to be granted in the
    future may be exercised is not currently determinable. Pursuant to the
    Employee Stock Purchase Plan, which plan is incorporated by reference
    herein, the Purchase Price of a share of Common Stock shall mean an amount
    equal to 85% of the Fair Market Value of a share of Common Stock on the
    Enrollment Date or the Exercise Date, whichever is lower.

                                      -2-
3

                                     PART II

               INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

ITEM 3.        INFORMATION INCORPORATED BY REFERENCE.

        The following documents and information previously filed with the
Securities and Exchange Commission are hereby incorporated by reference:

        (a) The audited financial statements for the Registrant's fiscal year
            ended December 31, 1998 contained in the Prospectus, dated June 28,
            1999, filed pursuant to Rule 424(b)(4) under the Securities Act of
            1933 on June 29, 1999.

        (b) The description of the Common Stock of the Registrant that is
            contained in the Registration Statement on Form 8-A filed pursuant
            to Section 12 of the Exchange Act on March 24, 1999.

        (c) All documents filed by the Registrant pursuant to Sections 13(a),
            13(c), 14 and 15(d) of the Exchange Act subsequent to the filing of
            this Registration Statement and prior to the filing of a
            post-effective amendment which indicates that all securities offered
            have been sold or which deregisters all securities then remaining
            unsold, shall be deemed to be incorporated by reference in the
            Registration Statement and to be part hereof from the date of filing
            of such documents.

ITEM 4.        DESCRIPTION OF SECURITIES.

        Not applicable.

ITEM 5.        INTERESTS OF NAMED EXPERTS AND COUNSEL.

        Mario M. Rosati and Issac J. Vaughn, members of Wilson Sonsini Goodrich
& Rosati, Professional Corporation, are Assistant Secretaries of the Registrant.
Wilson Sonsini Goodrich & Rosati is corporate counsel to the Registrant.

ITEM 6.        INDEMNIFICATION OF DIRECTORS AND OFFICERS.

        The Registrant has adopted provisions in its Certificate of
Incorporation that eliminate the personal liability of its directors and
officers for monetary damages arising from a breach of their fiduciary duties in
certain circumstances to the fullest extent permitted by law and authorizes the
Registrant to indemnify its directors and officers to the fullest extent
permitted by law. Such limitation of liability does not affect the availability
of equitable remedies such as injunctive relief or rescission.

        The Registrant's Bylaws provide that the Registrant shall indemnify its
directors and officers to the fullest extent permitted by the General
Corporation Law of Delaware, including circumstances in which indemnification is
otherwise discretionary under Delaware law. Section 145 of the General
Corporation Law of Delaware provides for the indemnification of officers,
directors and other corporate agents in terms sufficiently broad to indemnify
such persons, under certain circumstances, for certain liabilities (including
reimbursement of expenses incurred) arising under the Securities Act of 1933
(the "Securities Act"). The Registrant has entered into indemnification
agreements to such effect with its officers and directors containing provisions
which are in some respects broader than the specific indemnification provisions
contained in the General Corporation Law of Delaware. The indemnification
agreements may require the Company, among

                                      II-1
4

other things, to indemnify such officers and directors against certain
liabilities that may arise by reason of their status or service as directors or
officers (other than liabilities arising from willful misconduct of a culpable
nature) and to advance their expenses incurred as a result of any proceeding
against them as to which they could be indemnified.

ITEM 7.        EXEMPTION FROM REGISTRATION CLAIMED.

        Not applicable.

ITEM 8.        EXHIBITS.

        The Exhibits listed on the accompanying Index to Exhibits are filed as
part hereof, or incorporated by reference into, this Registration Statement.
(See Exhibit Index below).

ITEM 9.        UNDERTAKINGS.

        (a) The undersigned Registrant hereby undertakes:

               (1) To file, during any period in which offers or sales are being
made, a post-effective amendment to this Registration Statement to include any
material information with respect to the plan of distribution not previously
disclosed in the Registration Statement or any material change to such
information in the Registration Statement.

               (2) That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.

               (3) To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the
termination of the offering.

        (b) The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
Registrant's annual report pursuant to section 13(a) or section 15(d) of the
Securities Exchange Act of 1934 (and, where applicable, each filing of an
employee benefit plan's annual report pursuant to Section 15(d) of the
Securities Exchange Act of 1934) that is incorporated by reference in the
Registration Statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be an initial bona fide offering thereof.

        (c) Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise,
the Registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed
in the Securities Act and is, therefore, unenforceable. In the event that a
claim for indemnification against such liabilities (other than the payment by
the Registrant of expenses incurred or paid by a director, officer or
controlling person of the Registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person
in connection with the securities being registered, the Registrant will, unless
in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue.

                                      II-2
5
                                   SIGNATURES

        Pursuant to the requirements of the Securities Act of 1933, the
Registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized in the City of Palo Alto, State of California on July 30, 1999.

                                      E-LOAN, INC.

                                      By: /s/ FRANK SISKOWSKI
                                          -------------------------------------
                                          Frank Siskowski
                                          Chief Financial Officer and Secretary

                                POWER OF ATTORNEY

        KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature
appears below constitutes and appoints Chris Larsen and Frank Siskowski, jointly
and severally, his attorneys-in-fact, each with the power of substitution, for
him in any and all capacities, to sign any amendments to this Registration
Statement on Form S-8, and to file the same, with exhibits thereto and other
documents in connection therewith, with the Securities and Exchange Commission,
hereby ratifying and confirming all that each of said attorneys-in-fact, or his
substitute or substitutes, may do or cause to be done by virtue hereof.

         Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities and on the date indicated.
SIGNATURE                               TITLE                          DATE
------------------------------------          ----------------------            -------------
/s/ CHRIS LARSEN                             Director and Chief
------------------------------------          Executive Officer*                July 30, 1999
Chris Larsen

 /s/ JANINA PAWLOWSKI                         Director and President*
------------------------------------
Janina Pawlowski                                                                July 30, 1999

 /s/ FRANK SISKOWSKI                          Chief Financial Officer and
------------------------------------          Secretary (Principal
Frank Siskowski                               Financial and Accounting
                                              Officer)                          July 30, 1999

 /s/ IRA EHRENPREIS                           Director*
------------------------------------
Ira M. Ehrenpreis                                                               July 30, 1999

 /s/ ROBERT C. KAGLE                          Director*
------------------------------------
Robert C. Kagle                                                                 July 30, 1999

 /s/ TIM KOOGLE                               Director*
------------------------------------
Tim Koogle                                                                      July 30, 1999

   /s/ WADE RANDLETT                          Director*
------------------------------------
Wade Randlett                                                                   July 30, 1999
*   The employee benefit plans being registered pursuant to this Registration
    Statement are subject to administration by the Board of Directors of the
    Registrant.

                                      II-3
6

                                INDEX TO EXHIBITS
SEQUENTIALLY
                                                                                       NUMBERED
  EXHIBIT NUMBER                           EXHIBIT DOCUMENT                              PAGE
------------------  --------------------------------------------------------------  --------------
4.1*      Certificate of Incorporation of Registrant

          4.2*      Bylaws of Registrant

          4.3*      1997 Stock Plan

          4.4*      1999 Employee Stock Purchase Plan

          5.1       Opinion of Wilson Sonsini Goodrich & Rosati, Professional
                    Corporation, as to the legality of securities being
                    registered (Counsel to the Registrant)

         23.1       Consent of PricewaterhouseCoopers LLP (Independent Accountants)

         23.2       Consent of Wilson Sonsini Goodrich & Rosati, Professional
                    Corporation (contained in Exhibit 5.1 hereto)

         24.1       Power of Attorney (see page II-3)
---------------

*       Incorporated by reference to the Company's Registration Statement on
        Form S-1 (File No. 333-74945), effective June 28, 1999.

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