January is often regarded as one of the most financially challenging months of the year for many households. After the festive season’s heightened spending on travel, parties, and social obligations, personal savings are frequently depleted.
At the same time, regular expenses such as school fees, rent, utilities, transport, and food resume immediately, creating pressure on already stretched budgets.
For salaried workers and small business owners alike, the gap between post-holiday expenses and the next stable cash inflow can make the month feel financially straining.
This is why some individuals turn to salary advances from banks and other financial institutions to meet urgent obligations without defaulting on bills or disrupting daily life.
Unlike other loans, salary advance loan approvals are relatively fast, and repayment is automatically deducted from the borrower’s next paycheck.
The Co-operative Bank of Kenya (Co-op Bank) is one of the lenders offering this type of loan, offering customers financial relief until their next payday.
Through the Flexi Cash Salary Advance Loan, borrowers can get loans of between Sh10,000 and Sh500,000, depending on the limit assigned to individual borrowers.
The borrowed amount is recovered within 4 to 12 months. To get started, a customer must have an active Salary account operated for at least 3 months.
Two guarantors, including one colleague, are also required for the loan to be approved. The loan attracts a negotiation fee at a rate of 3 percent and a competitive interest rate plus govt levies.
How to apply for Co-op bank salary advance loan
- Dial *667#
- Enter your 4-digit PIN
- Select E-loans
- Select Apply loan
- Select preferred loan type (Salary loan)
- Select Tenure/Duration
- Enter valid loan amount
- Select account to credit
- Select ‘proceed’ to accept/confirm loan charges
- Accept Terms and Conditions
- Await Confirmation Message
Also Read: Co-op Bank account giving Kenyans cash advances and loans
