The Co-operative Bank of Kenya offers a diverse range of loan products tailored to meet the varying needs of individuals, businesses, and groups. Whether you’re looking to finance personal projects, expand your business, or support community initiatives, Co-op Bank provides flexible and accessible financing solutions.
Personal Loan Products
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Unsecured Personal Loan
Designed for salaried individuals, this loan offers amounts ranging from KSh 50,000 to KSh 8 million. Repayment periods extend up to 96 months, with competitive interest rates. The loan can be used for various purposes, including education, medical expenses, furniture, consumer durables, motor vehicles, plot purchase, holidays, and shares. Applications are processed within 48 hours, and the loan is insured against death and permanent disability.
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Mobile Loans (MCo-opCash)
This short-term loan caters to Co-op Bank salary account holders. Loan amounts range from KSh 1,000 to KSh 500,000, with repayment periods between 1 to 3 months. Applications can be made by dialing *667# on your mobile phone. To qualify, you must have a salary account with Co-op Bank, a copy of your KRA PIN, and be registered on MCo-opCash mobile banking.
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Flexi Plus Salary Advance
This product offers an advance on your salary, providing quick access to funds before payday. It’s ideal for managing unexpected expenses and is accessible through the bank’s mobile banking platform.
Business Loan Products
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MSME Term Loan
Tailored for Micro, Small, and Medium Enterprises (MSMEs), this loan supports business expansion and supply capabilities. Unsecured loans are available up to KSh 10 million, with repayment periods up to 24 months. Secured loans can extend up to 60 months. The loan is categorized into Bronze, Silver, and Gold tiers, each with varying loan amounts and terms.
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MSME Overdraft/Working Capital
This facility provides businesses with access to funds beyond their current account balance, ensuring smooth operations even when payments are delayed. Unsecured overdrafts are available up to KSh 10 million, with repayment periods up to 12 months. Secured overdrafts can extend up to 60 months. The loan is also categorized into Bronze, Silver, and Gold tiers.
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Mkopo wa Kujengana – Business
Aimed at self-help groups and registered community organizations, this loan offers up to 5 times the group’s accumulated cash collateral savings. The loan includes a cheque book, Co-op Cash Debit Card, and monthly statements. Members qualify after 8 weeks of training, and the loan is based on a co-guaranteeing mechanism.
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Business Mortgage and Construction Loans
For businesses looking to construct or renovate residential or commercial properties, this loan offers competitive interest rates with repayment periods up to 20 years for single dwelling units and 10 years for residential commercial units. A grace period of six months is provided, and the property can be used as collateral.
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Import Duty Finance
This solution assists importers in clearing and transporting imported cargo by providing financing for import duties. It ensures a seamless process during the importation and delivery of goods.
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Supply Chain Financing
Also known as Payable Finance or Reverse Factoring, this product helps businesses manage their payables by providing financing solutions that improve cash flow and supplier relationships.
Group and Institutional Loan Products
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Club Special Loan
Designed for investment clubs (chamas) and groups, this loan offers up to 5 times the group’s savings, with a maximum loan amount of KSh 50 million. Repayment periods extend up to 72 months, and the loan covers 100% of the project cost. Acceptable securities include cash, shares, properties, and guarantees.
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Co-op-a-maji Loan
This loan empowers individuals, MSMEs, and institutions to access water, sanitation, and hygiene solutions. It’s ideal for funding projects related to water infrastructure and sanitation facilities.
Additional Loan Products
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Asset Finance – Personal and Business: Provides financing for purchasing vehicles, machinery, and other assets without tying up other properties as collateral.Co-operative Bank of Kenya
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Good Homes Mortgages: Offers affordable home loans with competitive interest rates, enabling individuals to own their dream homes.
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Msamaria Women’s Loan: Specifically designed for women entrepreneurs, this loan offers financial empowerment to women seeking working and investment capital.
