This archive report was first published on 19 January 2022.
January 19, 2022 - I&M Bank has launched an innovative unsecured lending solution, aiming to make borrowing easier, quicker, and more convenient for its customers.
The bank's automated platform uses digitisation to deliver market-driven financial solutions, with the goal of deepening financial inclusion.
Eligible customers can apply for loans ranging from KES 50,000 to KES 3 million, without providing collateral or a guarantor.
The platform offers flexible loan repayment periods of up to 60 months, competitive interest rates, and loan processing fees with no minimum deposit balances required.
According to Kihara Maina, CEO at I&M Bank, the unsecured lending solution aligns with the bank's corporate strategy, driving digital transformation and financial inclusion.
"We believe that providing access to unsecured loans and credit cards is critical for our customers," Maina said. "This initiative supports our business growth agenda, particularly in the MSME banking target segment."
