Are you running out of cash? You can top up through Co-op Bank Kenya’s loan. The bank offers various loans tailored to meet its customers’ needs. In this case, let’s talk about the MCo-op cash mobile loan.
The MCo-opCash is a service that allows Co-op Bank customers to access bank services and loans straight from their mobile phones.
All these services can be accessed through USSD code *667# or *266# or via the MCo-op Cash app, which can be downloaded from Play Store.
To qualify for an MCo-op cash loan, your salary must be passing through a Co-op Bank account. Eligible borrowers get a chance to apply for up to 2 times their net salary as received in their Co-op Bank account, from a minimum of Sh1000 up to a maximum of Sh500,000.
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The total cost of the loan varies depending on the term a customer chooses to repay their loan. The bank allows a repayment period of between 1-3 months.
How to apply for an MCo-op cash loan:
- On your phone, dial *667# or download the Mco-op Cash app
- Register for MCo-op cash free of charge, with your National ID or valid Passport number
- Link your business account at any Co-op Bank branch
- Log into MCo-op cash and Apply!
To repay the loan, the amount borrowed is automatically deducted from the customer’s salary account when they’re due. Customers can also initiate payment through the;
- Salary account or any other Co-op Bank account linked to their MCo-opCash.
- Log into MCo-opCash by dialing *667# or through the MCo-opcash app.
- Select ‘LOANS’.
- Select ‘PAY LOAN’.
