NCBA Bank has unveiled a new unsecured digital lending product allowing customers to access instant low-cost loans without visiting branches.
The move is part of NCBA Bank’s wider strategy to accelerate access to credit and provide customized banking solutions to its customers under its lending for all initiative.
The product, dubbed Digital Personal Loan, is accessible via the NCBA NOW App and targets NCBA retail banking customers.
It offers loan limits of between Sh1,000 and Sh1 million, allowing borrowers to enjoy flexible and faster access to personal unsecured lending.
The facility has a minimum tenure of 3 months for loans below Sh50,000 and a maximum tenure of 12 months, with flexibility for customers to choose a repayment period that suits their financial situation.
A look at Sh4 million unsecured personal loan NCBA is giving customers
“Our latest Digital Personal Loan offering reinforces NCBA’s commitment to leverage technology in providing innovative financial solutions that align with evolving needs of our customers and more so empower them to achieve their financial goals,” NCBA Group Director, Retail Banking, Mr. Dennis Njau said.
“Through the NCBA NOW App, customers can now access flexible financing options conveniently and securely, further enhancing their banking experience,” he added.
The Digital Personal Loan also features credit life insurance provided by NCBA Bancassurance, offering financial protection to borrowers and their families.
How to apply
To access the service, customers are required to download the NCBA NOW app and use the Now Loans feature in the mobile application. Alternatively, customers can use the bank’s USSD code *488#.
To qualify for the Digital Personal Loan, customers must have been with NCBA for a minimum of 6 months and maintain an active personal account.
