This archive report was first published on 21 August 2019.
For many Kenyans, owning a car is a distant dream due to financial constraints. However, this situation has changed with Co-operative Bank's entry into the car importation business.
As the top-ranked bank in Kenya, Co-op Bank has introduced an attractive asset financing package that enables customers to own a brand new car easily.
According to the bank, customers can access up to 80% financing of the total amount, with a guaranteed saving of up to 10% upon purchase.
Interestingly, the bank finances both new and used cars, making it easier for customers to own their dream car.
However, to qualify for the loan, customers must have a constant source of income, either through formal employment or a profitable business.
The repayment period for the loan can be spread up to 60 months, and customers will need to provide certain documents, including their ID, KRA PIN, business PIN, and certificate of registration.
