I&M Bank Kenya launched an unsecured lending solution that will make it easier and faster for consumers to obtain unsecured loans using an automated platform.
The automated unsecured lending system aims to make the unsecured loan application and renewal processes faster and more efficient.
In most circumstances, eligible clients can apply for and obtain loans within a day.
“We believe that providing access to unsecured loans and credit cards is critical for our customers. We will continue to invest in digital technology to provide innovative financial solutions that are timely and relevant.” I&M CEO Kihara Maina.
Customers would be able to obtain loan facilities from a minimum of Sh50,000 to a maximum of Sh3million without presenting any collateral or guarantor as security for a duration of up to five years under the scheme.
They will also benefit from competitive interest rates and loan processing fees, as well as the fact that personal loan requests do not require any minimum deposit levels.