NCBA Loop App: For a mobile loan of up to Ksh. 3 Million, look nowhere other than the NCBA Loop. The merge between CBA and NIC Banks follows the launching of a digital banking platform that allows its customers to borrow the amount for three years.
This is the highest mobile phone loan as compared to other loan apps available in Kenya. The NCBA Loop is a digital banking service that assists you in managing your money better whenever, wherever. It seeks to give their customer financial control back into their hands, quite literally by offering a full banking service delivered through mobile (Android & IOS) and web experience.
The NCBA Loop App offers several services to its users. These services are put into place to allow for a swift and seamless banking experience for the user. Below are the services offered by the Loop.
Investments: This service allows you to invest your money, hence increasing your net worth. Through the Loop, you can maximize your money’s potential through their flexible and assisted investment system.
This also enables you to tweak and monitor performance from your App. Besides, a customer can request to withdraw funds from their Investment account. The interest rates can be found on their tariff guide appended.
Goals: NCBA Loop helps you set and meet your financial goals, so you can get to where you are going faster. The app allows you to set specific achievement levels for each goal you create together with payment schemes. You can be in control of all the places you want to be in the future.
This service also has a withdrawal option that allows you to access money from your goal account. The request will be processed immediately, therefore, you get your money instantly. This account has no interest.
Payments: Making payments has been made easier. The App offers this service – You can Pay to Loop, to Mobile Money, or any Bank. Pay your bills or pay a merchant via Pay Bill, Till, or with a Loop card.
Personal Loans: All Loop consistent users who have been active for at least 3 Months, passed KYC verification, have not been blacklisted, and have been assigned a credit limit are eligible to take out loans based on their assigned limit.
Overdraft Facility: All Loop frequent customers who have been active for at least 3 Months, passed KYC verification, have not been blacklisted, and have been assigned a credit limit are eligible to take out overdrafts based on their assigned limit.
Personal Financial Management: Customers can analyze their spending habits thus have a better picture of where their money is going. Personal Financial Management presents customers spending graphically making it easy to understand where your income is spent.
How to get a loan from NCBA Loop
To get a loan from Loop, you need to do the following:
- Register for the service: To register for an NCBA Loop account, you need to download the Android app, iOS app, or go to their website https://www.ncbaloop.com/
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Creating an account: To create an account you need a phone number and your ID number. You will be sent a PIN to activate the service to access your account.
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Applying for a loan: Once you have successfully created an account, you can be able to apply for a loan. NCBA Loop App customers can access loans of up to Sh. 3 million and overdraft of up to Sh. 100,000. The loan repayment period is between 6 – 36 months. Interest rates will vary depending on the customer.
To repay a loan from the NCBA Loop app, the process has been divided into the following:
- Allowed Payments: In an instance where a customer chooses to pay in bits, full and partial settlement shall be accepted
- Repayment Period: Every loan has a different schedule, this is found via the Loop App in the Loop Loan Menu Option. This schedule summarizes all future payment dates and amounts due with a clear view of the Principal and Interest component.
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Settlements: The app is curated in that, loan repayments will be automatically collected from your Loop Current Account every month from the date of disbursement.
Contact NCBA Loop:
A customer can visit any Loop Store or NCBA Branch
Customer Care Contact Tel: +254 20 2884444
Mobile: +254 711 056444/+254 732 156444
