Updated 2 November 2026
Co-op Bank loans averaged 15.01% a year in August 2026, according to the Central Bank of Kenya, a little above the 14.34% market average. The bank’s Personal Loan lends KSh 50,000 to KSh 10 million over up to 132 months, its KMRC home loan is 9.9% on a reducing balance, and salary account holders can borrow KSh 1,000 to KSh 500,000 on their phone by dialling *667#. You need to bank your salary with Co-op for most personal loans.
Updated November 2026 from Co-operative Bank of Kenya’s loan product pages and CBK weighted average lending rates (August 2026). Co-op prices loans on KESONIA plus a risk premium, so your rate depends on your profile.
Co-op Bank loans at a glance
| Loan | Amount | Repayment period | Key condition |
|---|---|---|---|
| Personal Loan | KSh 50,000 to KSh 10 million | Up to 132 months | Salary through Co-op; 3 months’ payslips |
| Unsecured personal loan (Executive Banking) | Up to KSh 4 million | Up to 48 months | No security; salary transfer |
| Flexi Plus Salary Advance | KSh 10,000 to KSh 1 million | 4 to 12 months | 2 guarantors (one a colleague); 3 months’ salary history; 3% negotiation fee |
| Mobile loan (E-Loans, *667#) | KSh 1,000 to KSh 500,000 | 1 to 3 months | At least one salary credit |
| Kamilisha Transaction | KSh 1 to KSh 100,000 | Up to 30 days | Opt in on the app or *667# |
| Asset Finance | Up to 80% of the asset | Up to 72 months | Asset is the security; insurance required |
| KMRC home loan | KSh 500,000 to KSh 8 million | Up to 20 years (salaried) | 9.9% reducing balance; up to 100% financing for ready houses |
Co-op Bank loan interest rates
Co-op Bank does not publish a single rate for its Personal Loan: its page says rates are “competitive”. The best public guide is the CBK table. In August 2026 Co-op’s weighted average lending rate was 15.01%, against 14.90% at Equity, 14.78% at KCB, 14.00% at NCBA and 13.97% at DTB. Co-op prices its loans off KESONIA (the Kenya Shilling Overnight Interbank Average) plus a premium for your risk.
At 15.01%, monthly repayments work out to roughly:
- KSh 500,000 over 36 months: about KSh 17,335.
- KSh 1 million over 60 months: about KSh 23,795.
- KSh 2 million over 48 months: about KSh 55,672.
- KSh 5 million over 132 months: about KSh 77,577.
The home loan is cheaper. A KSh 3 million KMRC mortgage at 9.9% over 20 years costs about KSh 28,752 a month. Work out your own figures with the Co-op loan calculator.
Requirements for a Co-op Bank personal loan
- Be employed or have a regular income. No minimum net salary is set.
- Transfer your salary to Co-op Bank. Non-check-off customers need an active salary account for at least six months; customers on check-off schemes can switch their pay point and borrow straight away.
- Original national ID and a copy, plus a copy of your KRA PIN.
- Payslips for the last three months.
- A completed loan application form.
Applications are scored and appraised within 48 hours, subject to confirmation from your employer. Loans are insured against death and permanent disability. Personal loans are available in shillings and US dollars.
How to apply for Co-op Bank loans online
Mobile loan on *667# or the app
- Dial *667# or open the Co-op Bank (MCo-opCash) app.
- Select E-Loans and choose Check Loan Limit to see your salary or business limit.
- Select Apply Loan, enter the amount and confirm.
- The money lands in your account within minutes if you qualify.
To repay, go to Loans then Pay Loan on *667# or the app. Read our full MCo-op Cash loan guide.
Personal loan, salary advance and asset finance
Fill in the enquiry form on the bank’s website, visit a branch or call the contact centre, then submit the application form with your documents. Branch and contact details are in our Co-op Bank paybill, SWIFT code and contacts guide.
Kamilisha: Co-op’s overdraft on the app
Kamilisha tops up a payment when your balance is short, for bills or transfers on the app. The limit runs from KSh 1 to KSh 100,000 and must be cleared within 30 days. Opt in on *667# or *557# under E-Loans, or tap Activate Kamilisha on your account card in the app.
Is a Co-op Bank loan a good deal?
Co-op’s average rate sits slightly above the market average, so compare before you sign. Its strengths are long tenors (132 months on the Personal Loan), quick mobile loans and the low-rate KMRC mortgage. If you belong to a Sacco, its loans may be cheaper: see bank vs Sacco loans in Kenya. You can also check how Co-op’s fees compare in the Co-op Bank help guide.
Sources
- Co-op Bank: Personal Loan, Mobile Loans, Flexi Plus Salary Advance, Kamilisha, Asset Finance
- Co-op Bank: KMRC home loan and unsecured personal loans
- CBK weighted average lending rates
Frequently asked questions
What is the interest rate on Co-op Bank loans?
Co-op’s weighted average lending rate was 15.01% in August 2026 (CBK). The KMRC home loan is 9.9% on a reducing balance. Your personal loan rate depends on KESONIA plus your risk premium.
How much can I borrow from Co-op Bank?
Up to KSh 10 million on the Personal Loan, KSh 1 million on the Flexi Plus Salary Advance, KSh 500,000 on the mobile loan and KSh 8 million on the KMRC home loan.
Do I need to move my salary to Co-op Bank?
Yes, for the Personal Loan, salary advance and mobile loan. Non-check-off customers need six months of salary history on the account.
How do I check my Co-op Bank loan limit?
Dial *667# or open the Co-op Bank app, go to E-Loans and select Check Loan Limit.
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