NAIROBI, Kenya, January 18 – I&M Bank Kenya has launched an unsecured lending solution that makes it more convenient and faster for its customers to access unsecured loans through an automated platform.
The automated unsecured loan solution aims to enable faster and more efficient loan application and renewal processes for unsecured loans.
According to Kihara Maina, CEO of I&M Bank, eligible customers can apply for and receive loans within a day in most cases.
“We believe that access to unsecured loans and credit cards is critical for our customers. We will continue to invest in digital technologies to provide innovative financial solutions that are timely and relevant,” he said
The platform through which unsecured loans are delivered supports loan applications and decisions with credit scoring capabilities previously unavailable in the traditional bank loan application process.
Under the plan, customers can conveniently purchase credit facilities from a minimum of Shh 50,000 up to a maximum of Shh 3 million without posting any security or guarantor as security, payable over a period of up to five years.
You’ll also benefit from competitive interest rates and loan processing fees, with no minimum deposit balance required for personal loan requests.