Salary Account: Did you know that by opening a salary account you can access loans of up to half a million shillings? Well, this is possible. Not everywhere, but at a bank that cares for you. That bank is Co-operative Bank. By opening a salary account at Co-op Bank, you will be eligible for advance credit of between Sh. 5,000 and Sh. 500,000.
What do you need to open this account? Well, you’ll only need to present your:
- Identity card/ Passport- original and copy
- Passport Photo (To be taken at the branch)
- Letter of introduction from Employer/ Employment Letter
- Sh. 600 for the Debit Card (inclusive of Excise Duty of 20%)
- Copy of KRA PIN
This account comes with zero opening balance, zero monthly maintenance fee, and access to loans such as personal loans or cash advances. The icing on the cake is that the bank recently launched a revolutionary way in which you can open your bank account paperless.
This means that when opening a bank account, you will no longer waste time filling out fill account-opening forms. You will only need to have your National ID. The other Know Your Customer (KYC) documents and details will be automatically generated by the bank system. The system will also confirm and validate the customer’s KRA PIN, take clear and high resolution photos, and enable electronic signatures.
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Once you open the account, the bank system will instantly send a text message to them, providing details of their account. This will instantly enable the customer to carry out banking transactions such as cash deposits and withdrawals.
“As Co-operative Bank of Kenya implements its digitization strategy plans, it is enjoying gains from increased efficiency and enhanced digital offerings to its customers,” says Co-op bank in a statement.
