Today, we are going to share 2 types of MCo-op cash loans that may be of help to you when in a financial fix.
The app is a mobile banking service by Co-operative Bank of Kenya that offer different services to its customers.
- Saving and depositing of money
- Application and repayment of loans
- Sending money from one Mcoop cash account to another, SACCO account or Co-operative Bank Account.
- Sending money to other mobile services, eg: M-Pesa and Airtel money.
- Withdrawal of money from Co-operative agent or ATM.
- Transfer of money to and from your Co-operative account or SACCO account.
- Purchase airtime for Safaricom, Airtel, Orange or Telkom subscribers.
- Pay different bills. Eg: KRA,DSTV and KPLC.
- Pay for goods and services.
- Pay school fees or rent.
- Check account balance or get mini statement.
- Buy, sell or transfer of shares.
- Turn on SMS alerts for credits and debits.
MCo-op Cash Loans
1. MCo-op Cash Business Plus Loan
This type of loan is normally given to clients with Co-operative Bank business account that has been in operation for at least 6 months.
1. The minimum amount of money one can apply is Ksh. 100 and maximum Ksh. 500,000. This depends with your CRB score and turnover.
2. To apply for Mco-op Cash Business Plus loan:
- Dial *667# or download Mco-op cash app on Google Play Store.
- Register using either your National ID or Passport.
- Link your business account. This can be done at any Co-operative Bank branch in Kenya.
- Log in to your Mco-op cash app and apply for loan.
3. If successful, the loan amount will be deposited in to your MCo-op cash account. The money can be withdrawn at any Co-operative Bank ATM, Co-op Kwa Jirani Agent or M-Pesa.
NB: Co-operative Bank will be charge you 1.083% of the loan amount applied.
2. MCo-op Flexible Cash Salary Advance
This type of loan is short term and is given to clients who will repay next day.
- One can borrow for as low as Ksh. 3,000 and maximum Ksh. 100,000.
- Recovery of the loan can be done within 1 to 3 months.
- No security is needed.
- Instant processing of loan.
- If you apply via MCo-op Cash loan app, you will not pay any facilitation fee.
How to Check Your MCo-op Cash Loan Balance
- Log in to MCo-op Cash app using the app or by dialling *667#.
- Choose “Loans”.
- Choose “Loan Enquiries”.
- Choose “Loan Balance” and follow the instructions.