How to get a loan from CBA Loop

Eric Muriuki, GM, New Business Ventures at CBA Group, Jeremy Ngunze, CEO Kenya, Chris Pasha, Group Head of Marketing and Communications, CBA Group

Commercial Bank of Africa (CBA) launched their digital banking service Loop in March 2017.  They recently updated it to include loans and overdrafts.

To get a loan from Loop, you need to do the following:

1. Register for the service

To register for a CBA Loop account, you need to download the Android app , iOS app or go to their website

2. Creating an account

To create an account you need a phone number and your ID number. You will be sent a PIN to activate the service to access your account.

3. Applying for a loan

Once you have successfully created an account, you can be able to apply for a loan.

Loop customers can access loans of up to Ksh. 3 million and overdraft of upto Ksh. 100,000. Loan repayment period is between 6-36 months. Interest rates will vary depending on the customer. 

More Stories
Family Bank profits dip by 83% as the MD blames it on social media