BY MWANAHABARI REPORTER
Kenyans are trooping to I&M Bank after the lender rolled out a loan programmed that will see customers receive up to Ksh3 million unsecured.
The bank has introduced an automated unsecured lending solution said to be faster and more efficient when it comes to loan processing.
According to the bank, customers can now apply for a loan of up to Ksh3 million and receive the money on the same day.
The loan eligibility and the amounts one wishes to borrow will depend on a customer’s credit score, which will be determined within the platform.
“We believe that providing access to unsecured loans and credit cards is critical for our customers. Further it provides for deepening financial inclusion. The Bank is also very focused in its digitisation agenda. This is in line with our corporate strategy which is driving the Bank’s digital transformation journey. We will continue to invest in digital technology to provide innovative financial solutions that are timely and relevant,” said Kihara Maina, CEO at I&M Bank.
“In addition, the launch of the unsecured lending solution also aligns with the Bank’s business growth agenda, which looks to further penetrate the MSME banking target segment through providing digital access to working capital for businesses.”
“They will also enjoy competitive interest rates and loan processing fees with no minimum deposit balances required for personal loan requests,” the lender said.
He noted that customers will not need any security, and will have flexible loan repayment periods of up to 60 months.
The bank said it wants to leverage technology to enhance offerings and convenience for retail, business banking and corporate customers.