Co-op Bank introduces new multipurpose loan product dubbed ‘Kaslip’
'Kaslip.' Kaslip is a multi-purpose loan that can be used for purchasing land, building a house, acquiring rental properties, or starting a business.

The Cooperative Bank has introduced a new multipurpose loan product dubbed ‘Kaslip’ to promote financial access to clients more efficiently compared to other loans.
According to Co-op Bank, the loan can be accessed through one’s pay slip ‘Kaslip.’ Kaslip is a multi-purpose loan that can be used for purchasing land, building a house, acquiring rental properties, or starting a business.
‘Kaslip’ bears two features namely personal loan and Pesa iko MCo-opCash – all which interested individuals can access using their pay slips.
Under personal loan, one can access a minimum amount of Ksh50,000 and maximum amount of Ksh9, 000,000.
The loan is repaid within a period of 96 months or 8 years and the applicants are evaluated using credit rating and is done within 48 hours.
Person loan covers areas such as education, medical, furniture, consumer durables, motor vehicles, plot purchase, holidays, and shares. This loan can be accessed by employed individuals or individuals with a regular income.
The applicant is expected to have a filled in loan application form, copy of KRA PIN. He or she needs to have an original National Identity Card and a copy. No specific minimum net salary is required. However, the salary pay slips for the last 3 months are required.
Under Pesa iko MCo-opCash, individuals using the Coop bank mobile banking can get a short-term loan that can push one up to his or her next payday! The features of this loan include – one can borrow from Ksh1,000 to Ksh500,000.
This loan can be repaid between one and three months. The salary is received through a Co-op Bank account. One can get it by dialing *667#. One needs to open an account with Coop Bank.
A copy of KRA PIN is also required. One must register on Mobile banking (MCo-opCash) to access this service. Those who have opened a salary account with Coop Bank are required to have a nil minimum opening balance, No monthly maintenance fee.
Individuals with salary accounts can access asset products such as unsecured personal loan, asset finance, mortgage and cash advance, debit card, access to a credit card and salary-processing fee.
Other requirements include identity card/ passport- original and copy, passport photo (To be taken at the branch), Ksh600 for the debit Card (inclusive of Excise Duty of 20 per cent), copy of KRA PIN. The bank does not require a letter of introduction from the employer.