Starting or expanding a business has never been as easy as it is today due to the increasing number of financiers who have introduced friendly funding solutions to help everyone achieve their goals.
A good example of these financiers is the Cooperative Bank of Kenya, which has rolled out various products tailor-made for borrowers in various sectors.
One of the bank’s products that is a game-changer is the recently introduced pay slip loan of up to Sh9 million, targeting employees in both the private and public sectors.
The product is allowing customers with a Co-op salary account to enjoy personal loans from Sh50,000 to Sh9 million with a flexible repayment period of up to 120 months.
The loan can be used for the following purposes:
- Education
- Medical
- Furniture
- Consumer durables
- Motor vehicles
- Plot purchase
- Holidays
- Shares
Make free transactions with Co-op Bank prepaid card: how to get started
The Co-op salary account is designed as a comprehensive financial solution, combining a salary account, personal loans, and mobile loans.
It not only offers customers access to unsecured personal loans but also asset finance, mortgages, cash advances, debit cards, and access to credit cards.
Interestingly, no specific minimum net salary is required, meaning anyone can access the loan as long as they have a regular income. Additionally, there is no monthly maintenance fee charged.
The loan requirements are that a customer must be employed or individuals with a regular income, including a monthly pension, have an original National Identity Card and a copy, and no specific minimum net salary is required.
Others are salary pay slips for the last three months, a completed loan application form, and a copy of the KRA PIN.
Civil servants, prison wardens, medical officers, and borrowers employed by the Teachers Service Commission (TSC), National Police Service, and Kenya Defence Forces have an added advantage while seeking the loan.
Did you love the story? You can also share YOUR story and get it published on Bizna Click here to get started.