When it comes to finances, life occasionally throws curveballs. But only those with the right financial partner manage to meet these challenging financial situations with a brave face.
Whether you want to make a major purchase, finance a wedding or pay school fees for your children: a Co-operative Bank Personal Loan is a simple and convenient borrowing solution to help customers reach these goals and many others that they dare to imagine.
The unsecured personal loans can go up to Ksh8 million depending with the employer and scheme.
All personal loan requests are processed within 48 hours subject to employer confirmation. You will only be required to transfer your salary to Co-op Bank if processing it with a different bank. And to qualify for a Co-op Bank personal loan, you need to maintain an active salary account for a minimum of six months for non-check off customers.
Customers under schemes/check-offs can open accounts and fill change of pay-point to Co-op Bank and immediately access credit facilities.
And if you have loans with other banks and/Saccos, Co-op Bank can buy them off or help in refinancing other bank and Sacco loans for customer to have one repayment.
Features of Co-op Bank Personal Loan
- Minimum loan amount of Ksh50,000
- Maximum loan amount of Ksh8,000,000
- Maximum term of up to 96 months
- Purposes to be covered include education, medical, furniture, consumer durables, motor vehicles, plot purchase, holidays and shares
- Applications to be appraised using credit scoring
- Applications appraised within 48 hours
Requirements
- Employment or regular income
- Original National Identity Card and a copy
- Original PIN Certificate and a copy
- No specific minimum net salary is required
- Salary pay slips for the last 3 months
- Filled in loan application form
- Copy of KRA PIN
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