Look no further if you’re looking for a list of loans from the Co-operative Bank of Kenya. This post provides a comprehensive reference to the list of loans offered by the Cooperative Bank of Kenya to its consumers.
The Co-operative Bank of Kenya is an East African bank with a prominent position on the stock market. It offers a wide range of financial services to its consumers within the East African Community.
The Co-operative Bank of Kenya has always tried to provide innovative financial services to its consumers. It boasts exceptional customer service, a well-organized network of service centers, and well-trained and motivated employees.
Co-operative Bank Loans in Kenya
Business loans, SME loans, and personal loans are the three basic types of bank loans.
Personal Loans
Personal loans are available to salaried bank employees. You may be eligible for a loan if a cooperative bank processes your payment and your bank account has been open for more than six months.
you have a six-month grace period.
Overdraft for MSMEs
The Co-operative Bank provides MSME overdraft capabilities to your company, allowing you to withdraw funds from your current account up to a pre-determined maximum. These services are only available for 12 months, after which they will be renewed based on your performance.
Micro, Small, and Medium-Sized Enterprises (MSME) Term Loan
This is the greatest lending choice for you if you wish to develop your business. Depending on your business and security level, you can repay the MSME term loan for up to 60 months.
Msamaria Women’s Loan
The Msamaria Women’s Loan is another loan provided by the Cooperative Bank to help women-owned companies grow. As a result, women have access to a maximum loan of KES 1,000,000, which must be paid back within 24 months.
Their enterprises, however, must have been in operation for more than a year to be eligible for this credit.
SME Loans
Co-operative Bank offers a variety of SME loans, including:
Working Capital/SME Co-op Business Loan – is used to fund capital costs such as machinery and working capital. The maximum payback duration is 60 months for women and 36 months for males.
Hybrid/Partially Secured Loans – You can get this loan if you don’t have enough collateral to secure a loan but have demonstrated your ability to repay. You must, however, offer security covering at least 50% of the loan amount..
Unsecured SME Loan for Businesses – This loan is available to SME owners with a healthy cash flow and a track record of repayment but no tangible assets.
SME Loan (Chattel Secured) – This is a secured business loan designed to fulfill the needs of all SME clients.
Finally, the Co-operative Bank of Kenya provides loans to meet all your needs, whether personal or business-related. Furthermore, their interest rates are moderate, and their payback terms are likewise acceptable.
