NAIROBI, Kenya Jan 18-I&M Bank Kenya has rolled out an unsecured lending solution, which will make it more convenient and quicker for its customers to access unsecured loans through an automated platform.
The automated unsecured lending solution is aimed at forging faster and more efficient loan application and renewal processes for unsecured loans.
Kihara Maina, CEO at I&M Bank said eligible customers can apply for and receive loans within a day in most cases.
” 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,” he said
The platform through which the unsecured lending will be provided supports loan application and decisions with credit-scoring capabilities, that were not previously available in the traditional loan application process in the bank.
Under the plan, customers will be able to conveniently acquire loan facilities from a minimum of Sh50,000 up to a maximum of Sh3million, without providing any collateral or guarantor as security payable in a period of up to five years.
They will also enjoy competitive interest rates and loan processing fees with no minimum deposit balances required for personal loan requests.
