How to get an instant school fees loan of up to Sh1 million without going to bank

As learners across the country begin going back to school for the second term, many Kenyan families are once again feeling the familiar financial strain that comes with preparing children for the new term.

For most parents and guardians, the pressure goes beyond tuition fees, stretching into uniform purchases, stationery shopping, transport arrangements, pocket money, rent payments, utility bills, and even food supplies for the weeks ahead.

It is a period that often demands heavy spending within a short time, leaving households juggling multiple obligations at once.

This year’s second term is one of a kind as it begins at the edge of the month, a time when most parents have not received their monthly salaries.

This means that parents who had not allocated back-to-school funds will have to seek alternative ways of raising funds quickly.

To ease this seasonal burden, the Co-operative Bank of Kenya is offering customers an instant school fees loan, providing a convenient solution for those in urgent need of cash.

Accessible through the lender’s mobile banking platform, the loan product targets Co-op Bank customers with a salary or business account.

Customers can access a quick school fees loan of up to Sh1 million directly through the Co-op Bank App or via the *667# USSD code.

The loan is designed for speed and convenience, requiring no paperwork, no phone calls, and no security.

“If you have a salary or business account at Co-op Bank, you can apply for an instant mobile loan of up to Kes 1million through Co-op Bank app. No forms, no calls, no security required,” Co-op Bank states.

How to register for the Co-op Bank School Fees Loan Service

To begin, customers must first register on their mobile phone at no cost. This can be done by dialing *667# or downloading the Co-op Bank App and selecting the REGISTER option.

Once registered, customers can proceed to check how much they qualify for and apply immediately.

How to check your loan limit

To check your loan limit using the Co-op Bank App or USSD:

• Dial *667# or open the Co-op Bank App and log in using your Co-op Bank App PIN
• Select E-loans
• Select Check Limit

This step helps customers confirm the maximum amount they are eligible to borrow before making an application.

How to apply for the Co-op Bank school fees loan

The application process is equally straightforward:

• Dial *667# or open the Co-op Bank App and log in using your Co-op Bank App PIN
• Select E-loans
• Select Check Limit
• Click on Apply Loan and follow the steps

Once approved, the funds are deposited instantly into the customer’s Co-op Bank App wallet. The wallet account number is the customer’s mobile number with the digit ‘1’ added at the end.

Customers can transact directly from the wallet or transfer the funds to their salary or business account, depending on their preferred method of payment.

“The money will be deposited in your Co-op Bank app wallet (This is a virtual account. The account number is your mobile number with ‘1’ at the end). You can transact directly from the wallet or transfer the money to your Salary or Business account,” the lender explains.

Also Read: Co-op Bank’s Hekima Savings Account: A smart savings tool for SMEs seeking growth