Co-operative Bank of Kenya offers diverse loan products tailored for personal, business, and group needs, with competitive rates and flexible eligibility across Nairobi and beyond. Below is a summary table of key loans, eligibility criteria, and indicative rates based on current offerings.
| Loan Name | Eligibility | Interest Rate (p.a.) |
|---|---|---|
| MCo-opCash | Co-op Bank account holder; salary processed via bank; dial *667# | 9-18% |
| Flexi Plus Salary Advance | Salary account with Co-op; steady income | Up to 15% |
| Unsecured Personal Loan | Employed with regular income; payslips, ID, PIN | 13-18%; up to KSh 9M |
| Asset Finance | Asset purchase (cars, equipment); 20% deposit | 14-17%; up to KSh 5M |
| MSME Term Loan | Registered MSME; business cash flow proof | 10-17%; KSh 600K-10M |
| Club Special Loan | Registered chama/group; group savings | Affordable; up to KSh 50M |
| Good Homes Mortgage | Steady income; property valuation | 13-16%; up to 20 years |
| Business Overdraft | Business account; turnover proof | 15-18% |
| Msamaria Women’s Loan | Women entrepreneurs; group guarantee | 12-15% |
| Diaspora Loans | Kenyans abroad; remittance proof | 14-17% |
1. MCo-opCash
MCo-opCash provides instant mobile loans from KSh 1,000 to KSh 500,000, repayable in 1-3 months, ideal for emergencies in Nairobi's fast-paced life. Eligibility requires an active Co-operative Bank account with salary deposits, accessed via USSD *667# or MCo-opCash app. No collateral needed; approval leverages transaction history for quick disbursement within minutes. Interest ranges 9-18% p.a., with features like overdraft on savings for seamless access.
This loan suits Westlands professionals needing cash for unexpected bills, emphasizing convenience without paperwork. Repayments deduct automatically, avoiding defaults common in urban settings.
2. Flexi Plus Salary Advance
Flexi Plus targets salaried employees, offering advances up to four times monthly salary with repayment up to 48 months. Key eligibility: salary processed through Co-op Bank, minimum net pay of KSh 15,000, and clean CRB status. Applications process in 48 hours using credit scoring.
Flexible top-ups allow extra borrowing without new applications, perfect for Nairobi's variable living costs like rent in Kilimani. Rates hover at 13-15% p.a. on reducing balance, with no prepayment penalties.
3. Unsecured Personal Loan
For personal needs like education, medical, or vehicles, this loan ranges KSh 50,000 to KSh 9 million over 132 months maximum. Eligibility demands steady employment, 3 months' payslips, ID copy, KRA PIN, and no minimum salary threshold—appraisals via credit scoring within 48 hours.
Nairobi families use it for plot purchases or holidays, with purposes explicitly covering consumer durables and shares. Rates: 13-18% p.a., unsecured for speed but requiring strong repayment capacity.
4. Asset Finance
Finance movable assets like cars, laptops, or solar panels up to 80% of value (KSh 50,000-KSh 5 million). Eligibility: quotation/invoice, proof of income, and 20% equity contribution. Repayment up to 60 months at 14-17% p.a.
Ideal for Nairobi entrepreneurs buying boda bodas or generators amid power issues. Co-op handles valuation and registration, ensuring quick turnaround for business continuity.
5. MSME Term Loan
Business owners access KSh 600,000 to KSh 10 million for expansion, tiered by bronze (KSh 600K), silver (KSh 6M), gold (KSh 10M). Eligibility: registered MSME, 6 months' statements, collateral for higher tiers, debt ratio under 50%. Terms up to 60 months at 10-17% p.a.
Supports Nairobi SMEs in Westlands markets, financing equipment or working capital with flexible security like logbooks.
6. Club Special Loan
Chamas and investment groups borrow up to KSh 50 million or 5x savings for projects, repayable in 72 months. Eligibility: registered group, audited accounts, group guarantee, and project viability. Rates are affordable, often 12-15% p.a., with 100% project financing.
Popular in Nairobi's communal savings culture, like Lavington chamas funding real estate.
7. Good Homes Mortgages
Homeownership loans up to 90% property value over 20 years for buying or building. Eligibility: steady income (KSh 30,000+ net), valuation approval, legal title search. Rates 13-16% p.a., including construction advances.
Nairobi's growing middle class in Karen uses this for affordable housing amid rising plots.
8. Business Overdraft and Working Capital
Overdrafts up to KSh 10 million based on turnover, revolving for 12 months. Eligibility: business account 6+ months, statements, security like charges. Rates 15-18% p.a., for cash flow gaps.
Vital for Upper Hill traders bridging supplier payments.
9. Msamaria Women’s Loan
Empowers women groups/entrepreneurs with KSh 100,000-KSh 5 million for ventures. Eligibility: women's group registration, business plan, guarantors. Preferential rates 12-15% p.a., up to 48 months.
Boosts Nairobi's female-led MSMEs in beauty or crafts.
10. Diaspora Loans and Mortgages
Kenyans abroad remit via Co-op for loans up to KSh 20 million, including mortgages. Eligibility: 6 months' remittances, passport, income proof. Rates 14-17% p.a., disbursed locally.
Supports families in Parklands buying investment properties.
Application Process and Tips
Apply via branches, online portal, or app; prepare ID, PIN, payslips, statements. CRB clearance mandatory; debt burden under 50%. Nairobi applicants benefit from same-day approvals at Westlands or Upper Hill branches. Use Co-op's calculator for estimates.
Rates align with KESONIA from February 2026, ensuring transparency. Pre-qualify salary transfers for better terms. Avoid over-borrowing amid Kenya's 15% CBR.
Eligibility Essentials Across Loans
Common requirements: age 21-65, Kenyan resident/citizen, clean CRB (except restructuring). Salary loans need employer letter; business ones require BR/BN certificates. Groups need constitution, minutes.
Co-op's Nairobi network, from CBD to suburbs, simplifies access for professionals servicing loans responsibly.
