Executive Banking
Sustainability
Frequently asked questions
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- Where will the loan be credited?
Your loan will be deposited to your Co-op Bank Float account.
- Where will the loan be credited?
Your loan will be deposited to your Co-op Bank business account.
- What is the repayment period?
You can choose to repay your loan in 1 day, 7 days, 14 days, or between 1 and 6 months, depending on your business needs and cash flow.
- Where will the loan be credited?
The financed invoice amount will be credited directly to the Anchor’s business account held with Co-op Bank.
- What are the charges?
You will be charged a one-off fee of 8% for a term of 1 month, 10% for a loan term of 2 months and 12% for a loan term of 3 months, on the loan amount + 0.034% pm insurance fee (insurance is for all loan types) + excise duty of 20%. The fees are deducted up front (i.e., before the money is deposited in your Co-op Bank App Wallet Account).
For example, if you request a loan of Kes 10,000:
Fee for 1 month loan Insurance Excise duty Total cost Amount that is credited to your account Kes 800
(8% of 10,000)Kes 3.4
(0.034% of 10,000)Kes 160
(20% of 800)Kes 963.4 Kes 9,036.50 - What should I do if I do not receive the One Time Password (OTP)?
If you do not receive an OTP, kindly call our contact center on 0703027000.
- What is the repayment period?
7 days.
- What is the repayment period?
You can choose to repay in 7 days, 14 days or 30 days.
- Can I top up my loan?
Yes. You can access headroom on loan limit even before paying part of the loan if your existing loan is between 1 and 6 months.
- What is the repayment period?
You can choose to repay in 7 days or 14 days.
- Where will the loan be credited?
Your loan will be deposited to your Co-op Bank App Wallet Account.
- I am getting the error, ‘’ your account is blocked’’ when I dial 667#. Will I be able to reset my PIN?
No. You will be required to first unblock your Co-op Bank App account by calling our contact centre via 0703027000 or visiting the nearest Co-op Bank Branch.