Cooperative Bank of Kenya Loans- Short & Long Term Loans, Business Loan, Flexi Loan (Salary Advance), Secured Personal Loan, MCo-op Cash Loans, Maziwa Loans, Working capital loans, Contacts.

Cooperative Bank of Kenya Loans- Short & Long Term Loans, Business Loan, Flexi Loan (Salary Advance), Secured Personal Loan, MCo-op Cash Loans, Maziwa Loans, Working capital loans, Contacts.

Cooperative Bank of Kenya Loans

Cooperative Bank of Kenya Loans: Short & Long Term Loans

PURPOSE

Term Loans;- Advanced to businesses for financing of specific assets.
The lending period ranges between six months and five years depending on the needs of the applicant.

FEATURES

• Pre agreed repayment period
• Financing of specific assets or projects
• Equal monthly repayment instalments
• May be denominated in Kenya shillings or other major world currencies such as US Dollars, sterling pounds and Euro.

ADVANTAGES

• Longer repayment period of up to five years.
• Monthly repayments are agreed upfront
• Ease of cash flow planning
• It enables a business acquire valued assets for business growth and expansion.
• The asset financed may act as security

Cooperative Bank of Kenya Loans
Cooperative Bank of Kenya Loans: Working capital loans (Individual)

Enables coffee farmers cater for operations
NB: Applicable to individuals/coffee estates only

Features

Used for day-to day coffee farming activities e.g. weeding
Interest rate at 5% p.a. reducing balance
Amount credited directly to customer account
Maximum Kshs. 5million for Estates
Maximum tenor of 12 months, paid from the coffee proceeds
Fees: Nil

Cooperative Bank of Kenya Loans: Education Savings Scheme (ESS) Loans

PURPOSE

Education is perhaps the most critical and largest borrowing needs that majority of Sacco members have. Many Saccos therefore experience the greatest demand for loans around the back-to-school period. It is in this respect that Co-op Bank decided on coming up with a variety of solutions to assist Saccos serve their school fees-paying members better particularly during these peak periods.

The Education Savings Scheme is designed to encourage Saccos to save towards building a reserve fund which is to be applied as collateral to secure their borrowing from the Bank for on-lending to members for school fees, hence the name ‘Education Savings’.

Cooperative Bank of Kenya Loans: Maziwa Loans 2

Features

• Can borrow a Maziwa loan for working capital purpose, dairy inputs, equipment and dairy related developments
• Max repayment period: 24 months for individuals and 36 months for societies
• Loan size: 10,000 – 1M for individuals and Max of 10M for societies
• Must be delivering to New KCC and any other credible buyer for a minimum of six consecutive months
• Individuals must show proof of having maintained a bank account for at least six consecutive months.
• Dairy society must have been in operation for last two years.
• Must have tri-partite agreements
• Open to both new and existing Co-op Bank customers
• Channel all milk proceeds through the bank

Other features

• Interest charged at Base + 2% p.a. on reducing balance
• Application fee: from KShs.1000 to 10,000 depending on the Loan amount
• Appraisal fee of 1%
• Annual review fee of 1% of the loan balance for working capital loans whose term exceeds 12 months.
• Collateral includes charge over movable/fixed assets, landed property

Cooperative Bank of Kenya Loans: Maziwa Plus Loans

Details

To enable Dairy groups/ associations, societies, individuals and dairy companies access loans for dairy production and value addition equipment including buying additional cows and chilling equipment.

Features

• Can borrow for joint activities, on-lending to members or for working capital
• Can borrow up to Kshs 10 million and has no minimum limit
• Must be handling at least 500 litres per day
• Must retain at least 50% of the proceeds after loan deductions
• Tri-partite agreements where applicable or letters of undertaking from a reputable milk buyers and must have a current contract with a formal milk buyer
• Groups must have been in existence for at least 2 years
• Companies must have been in existence for at least 12 months
• Must provide security, at least 30% in tangible form
• Willingness to channel milk proceeds through the bank

Other features

• Maximum tenor: 60 months
• Interest charged at 15% p.a. on reducing balance
• Appraisal fee of 1%of the loan amount
• Annual review fee of 1% of the loan balance whose term exceeds 12 months.
• Collateral includes charge over movable/fixed assets of the group, landed property and guarantees. At least 30% must be tangible
• Personal Guarantee by the group officials is mandatory
• Group assets must be secured in the name of trustees (officials) with provisions on succession clearly spelt out in the group constitution

Cooperative Bank of Kenya Loans: Maziwa Loans

Details

To enable Dairy Societies and individuals delivering milk to NKCC purchase farm inputs, farm machinery and make various developments including on-lending to members

Features

• Can borrow a Maziwa loan for working capital purpose, dairy inputs, equipment and dairy related developments
• Max repayment period: 24 months for individuals and 36 months for societies
• Loan size: 10,000 – 1M for individuals and Max of 10M for societies
• Must be delivering to New KCC and any other credible buyer for a minimum of six consecutive months
• Individuals must show proof of having maintained a bank account for at least six consecutive months

. • Dairy society must have been in operation for last two years.

• Must have tri-partite agreements • Open to both new and existing Co-op Bank customers
• Channel all milk proceeds through the bank
Other features
• Interest charged at Base + 2% p.a. on reducing balance
• Application fee: from KShs.1000 to 10,000 depending on the Loan amount
• Appraisal fee of 1%
• Annual review fee of 1% of the loan balance for working capital loans whose term exceeds 12 months.
• Collateral includes charge over movable/fixed assets, landed property.

Cooperative Bank of Kenya Loans: MCo-op Cash Loans

Secured Personal Loan

Loan of up to KShs. 200,000 for any customer with savings in Mco-op Cash, based on the amount of savings at the time of application. Just sign up for MCo-op Cash, deposit money, apply for the loan on your phone and get the cash chap chap!

Flexi Loan (Salary Advance)

Loan of up to KShs. 100,000 for customers who have successfully paid a FLEXI loan from Co-op Bank before. Just sign up for MCo-op Cash, visit your nearest Co-op Bank branch or agent to link your Co-op Salary account, apply for the loan on your phone and get the cash chap chap!

Business Loan

Loan of up to KShs. 50,000 for customers with an existing Co-op Bank loan. Just sign up for MCo-op Cash, visit your nearest Co-op Bank branch or agent to link your Co-op Bank account, apply for the loan on your phone and get the cash chap chap!

Cooperative Bank of Kenya Loans: Contact

Talk to our Contact Centre 24 hours a day, 7 days a week , on
020 277 6000, 0703 027 000 or 0736 690 101 or SMS 16111.
Email: customerservice@co-opbank.co.ke
WhatsApp 0736 690 101.