Co-operative Bank of Kenya's unsecured personal loan targets employed individuals or those with regular income, such as salaried workers, pensioners, or self-employed professionals in Nairobi and across Kenya. No specific minimum net salary is required, making it accessible, but approval hinges on credit scoring, income verification, and debt service ratio under 50%.

Core Eligibility Requirements

Applicants must meet these standard criteria:

  • Age: 21-65 years at application.

  • Residency: Kenyan citizen or resident.

  • Employment/Income: Steady job or verifiable regular income (e.g., salary, pension, business turnover).

  • Credit Status: Clean or satisfactory CRB listing; recent defaults disqualify.

  • Bank Relationship: Active Co-op Bank salary account preferred (mandatory transfer for processing); non-check-off customers need 6 months' account history.

Required Documents

Submit originals plus copies:

  • National ID card.

  • KRA PIN certificate.

  • Last 3 months' salary payslips (or equivalent income proof like pension statements, business bank statements).

  • Filled loan application form.

  • Employment confirmation letter (for new salary transfers).

Self-employed applicants provide 6 months' bank statements and BR/BN certificate.

Loan Limits and Terms

  • Amount: KSh 50,000 minimum to KSh 9 million maximum.

  • Tenure: Up to 132 months (11 years).

  • Purposes: Education, medical, furniture, vehicles, plot purchase, holidays, shares, consumer durables.

Appraisals use automated credit scoring for 48-hour turnaround, factoring income stability and repayment capacity. Salary processors get priority and better rates (13-15% p.a.).​

Special Considerations

  • Check-off/Scheme Customers: Immediate access post account opening and paypoint change.

  • Top-Up Loans: Existing borrowers qualify faster with good repayment history.

  • Rejections: Common for high debt burden, poor CRB, or unstable income—reapply after 3-6 months.

Nairobi branches like Westlands verify documents on-site for quick processing. Pre-check eligibility via the loan calculator at co-opbank.co.ke.

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