List of Cooperative Bank of Kenya Loans

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This article is a definitive guide to the list of Cooperative Bank of Kenya Loans to its clients.

If you have ever wondered what Cooperative Bank would offer you as its customer, this article is for you. It is all about empowering you to make the right decisions.

The Cooperative Bank of Kenya is a bank regulated by the Central bank of Kenya. This bank was incorporated in 2008, and therefore it has been in operation for 12 years. Therefore, there is no doubt that Cooperative Bank offers the most affordable and innovative loan products to its customers

A glance into what this article is about:

Types of Loans offered by Cooperative Bank

    • Business Loans
    • SME Loans
    • Personal Loans

Why you should open an account with Cooperative Bank

Types of Cooperative Bank of Kenya Loans

Just like its competitors like the Equity Bank, Cooperative bank offers various types of loans to cater to the diversified needs of its clients.

Below we will discuss in detail this list of loans as well as the eligibility criteria and different interest rates charged.

1. Cooperative Bank Business Loans

In this list of loans offered by Cooperative bank, we will start with business loans. The Cooperative bank understands that sometimes to take your business further, you need a little push.

Under business loans, a Cooperative bank offers a wide range of loans for business owners.

Here are the various business loans offered by the Cooperative bank:

  • Asset Financing
  • Biashara Plus Loan
  • Construction and Mortgage Loans
  • Msamaria Women’s Loan

Let’s discuss them in detail:

1. Asset Financing

Any serious business owner understands that they will need to own assets to move to the next step. Sometimes, assets cost more than what a company can afford at the moment.

Cooperative bank asset financing loan does not require any collateral as the asset you will be buying will act as collateral. All one needs to present to the banks is Company registration certificate, director’s ID, minutes of the AGM proposing purchase of asset as well as audited accounts for loans over 10million.

This loan is repayable within 48 months, as well as insurance premium financing.

2. Biashara Plus Loan

Biashara plus loan is another type of loan in this list of loans offered by the Cooperative bank. This loan is meant explicitly for small businesses such as the Mama mboga, the shopkeeper, the saloonist. One can borrow from as little as Ksh 5000 to Ksh 2,000,000 at a flat interest rate of 2.5% only. Payments are made within 12 – 24 months.

Biashara plus loan, therefore, ranks on top of all other loans in this list of Cooperative bank loans.

3. Construction and Mortgage Loans

Does your company want to develop a piece of land that it had previously purchase? Or is it time to buy your office premises? Worry not as a Cooperative bank offers Mortgage and construction loans to businesses. What’s more, is that this loan can be repaid up to 20 years and has a six months grace period.

4. Msamaria Women’s Loan

Msamaria Women’s Loan is another loan offered by the Cooperative Bank that is aimed at empowering businesses owned by women. Women, therefore, have access to a maximum of Ksh 1,000,000 loan payable within 24 months. However, to be eligible for this loan, their businesses have to be in operation for more than a year.

2. Cooperative Bank SME Loans

In addition to providing loans to established companies, Cooperative bank offers loans to Small and Medium enterprises.

Some of the lists of loans offered to these firms are unsecured, while others require chattel for security.

They include:

  • SME Working Capital Loan
  • Partially secured loan
  • Unsecured Business Loan
  • Fully chattel Secured Loan

The details are as follows:

1. SME Working Capital Loan

This loan is very popular. It is Used to finance expenses of capital nature and working capital such as machinery, plant. e.t.c. These loans are repayable within 18 – 34 months, and their security is usually the capital.

2. Partially secured loan

The borrower will provide securities to cover for 50% of the loan, and the other part will be covered by chattel (personal possession).

3. Unsecured Business Loan

Available for SME with good cash flow but lack assets to act as securities.

4. Fully chattel Secured Loan

Personal belongings will act as security for this loan.

3. Cooperative Bank Personal Loans

In addition to the loans listed above, Cooperative Bank also offers individual loans. There is a list of loans that Cooperative bank offers to its customers.

They are as below:

  • Asset Financing
  • Co-op Personal Loan
  • Mkopo wa Kujenga Loan
  • Flexi cash salary advance
  • MCo-op App

Let’s go over each type of Cooperative Bank Personal Loans:

1. Asset financing

See that sleek ride you have meant to purchase, and you lack 20% of the finances? Worry no more; Cooperative bank can finance you up to 80% of the total cost of the asset.

2. Co-op Personal Loan

If you are an employed individual and have regular earnings, then you qualify for this loan.

3. Mkopo wa Kujenga Loan

Mkopo wa Kujenga loan also ranks among other loans in this list of Cooperative bank loans. You see that plot of land you have meant to develop. You will be able to develop it with this loan. One can get up to 5% of their savings.

4. Flexi cash salary advance

Borrow up to Ksh, 100,000 recoverable up to 3months.

4. MCo-op Cash loan App

MCo-op Loan App offers you the ability to borrow as much as you want from the comfort of your home without worrying about collateral. 

Why you should open an account with Cooperative Bank

There are plenty of reasons why you should open either a business or personal account with the Cooperative Bank. Top of these reasons include:

  1. To be able to access the loans with have discussed above with flexibility in payment
  2. You are assured security of your money
  3. Innovative products that ensure that no matter where you are, you will be able to access your money within a snap of your fingers.

Cooperative Bank of Kenya Loans Conclusion

In Conclusion, be careful where you borrow as it might end up messing up everything you have built in a flash. Cooperative Bank of Kenya is one of the best banks to borrow from in Kenya, as there are no hidden costs to your loan.

I hope that this list of Cooperative Bank of Kenya loans proves to be helpful to you.

Mary Nzoka

Mary is a Financial Genius, having worked as a Financial Manager at a local bank, she has immense knowledge on how the finance and credit world works. She writes about personal finance, business loans, and personal loans.

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