Explore Co-op Bank’s Salary Loans – Borrow up to Sh4 Million Instantly

The Cooperative Bank of Kenya is introducing salary loans of up to Sh4 million for its customers. This offering is accessible through the Co-op Bank salary account, providing various options including unsecured personal loans, one-year salary advances, and mobile loans.

The unsecured personal loans extend up to Sh4 million, the one-year salary advance can be up to 4 times the net monthly salary, and mobile loans are available up to Sh500,000. When applying for these loans, there are attractive features such as zero minimum operating balance, no account maintenance charges, a flexible salary processing fee, and efficient salary processing.

To avail of this service, individuals need to enroll in a Co-operative salary account by visiting any of the bank’s branches. This account, tailored for cash advances and personal loans, is specifically designed to streamline salary processing. It caters to employees and offers the following features:

• Minimum opening balance: Nil
• Minimum operating balance: Nil
• No monthly maintenance fee
• Applicable salary processing fee
• Access to loan products, including personal loans and cash advances
• Debit card
• Access to a credit card

To open a Co-op account, prospective customers are required to provide the following documents:

• Identity card/Passport (original and copy)
• Passport photo (taken at the branch)
• Letter of introduction from the employer/employment letter
• Shs.600/= for the Debit Card (inclusive of 20 per cent Excise Duty)
• Copy of KRA Pin