Sometimes the life goals we set remain unaccomplished primarily due to financial constraints.
However, with the rising number of financial institutions, it’s possible to get a loan from a lender of your choice and have your project completed.
Co-op Bank Kenya is one of those institutions that you should consider when looking for money to start or stock a business, make a major purchase, or pay school for your children.
The bank offers various loans tailored to meet its customers’ needs. Co-op bank Personal Loan is one of the solutions to help you reach your goals.
This type of loan provides financing for education, medical, furniture, consumer durables, motor vehicles, plot purchase, holidays, and shares.
It is accessible to all employed individuals or individuals with a regular income. Eligible borrowers get a chance to borrow as low as Sh. 50,000 and up to Sh. 8,000,000, depending on the employer and scheme, with a repayment period of up to 8 years.
This loans is currently available on both Kenya Shilling and the US Dollar currencies.
Co-op Bank subsidiaries return Sh. 753.9 million profit in first three months of 2023
The interest rate is currently capped at 13 per cent per annum. All personal loan requests are processed within 48 hours, subject to employer confirmation.
Requirements for Co-op Bank Personal Loan
- Employed individuals or individuals with a regular income
- Original National Identity Card and a copy
- No specific minimum net salary is required
- Salary pay slips for the last three months
- Filled in loan application form
To qualify for Co-op Bank personal loan, one needs 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 PayPoint to Co-op bank and immediately access credit facilities.”
