Co-op Bank Salary Loans: Buying land is one of the most ideal investment and saving options you can go for to create wealth.
However, despite land being one of the most appreciative forms of wealth creation, many people remain locked out this real estate venture.
One of the main reasons for this is due to the intensity of the capital required to buy prime plots.
However, this may no longer be a major concern for salaried Kenyans looking to venture into the lucrative real estate business through land. This is because the Co-operative Bank as issued a loan facility that is availing up to Sh. 4 million to land buyers within four days only.
“We recognize that we all need a little help from time to time. And when that help that you need is financial, we’ve got a great product tailored to suit your needs,” says Co-op Bank in a statement to Bizna Kenya.
The new loan facility rides on the back of the bank’s continued effort at providing affordable credit to Kenyans despite the banking industry being hard hit by the law that capped interest rates and squeezed out loans from the market.
Interestingly, this loan can also be broadened to cover a number of your other financial needs. For example, this loan facility comes with the following features:
1). Loan amount: it has a minimum loan amount of Sh. 50,000 and a maximum loan amount of Sh. 4,000,000.
2). Term: it has a maximum term of 72 months.
3). Purposes: the areas to be covered include education, medical, furniture, consumer durables, motor vehicles, plot purchase, holidays and shares.
4). Appraisal: Applications are usually appraised using credit scoring. This means you will be at a good advantage position if you have a high credit score.
5). Appraisal period: Applications appraised within two to three days following a loan request.
