NCBA has launched a new digital loan that will be accessible via its app and USSD and will target its retail customers. The loan has been launched by NCBA under its lending for all initiative.
Dubbed NCBA Digital Personal Loan, it offers a minimum loan amount of Ksh. 1,000 and a maximum loan amount of Ksh. 1,000,000, catering to a wide range of financial requirements.
To access the loan, customers are required to download the NCBA NOW app (Google & iOS) and use the Now Loans feature in the mobile application. Alternatively, customers can use the bank’s USSD code *488#.
Sharing his thoughts on the new Digital Personal Loan offering, NCBA Group Director, Retail Banking, Mr. Dennis Njau, note “Our latest Digital Personal Loan offering reinforces NCBA’s commitment to leverage technology in providing innovative financial solutions that align with evolving needs of our customers and more so empower them to achieve their financial goals. Through the NCBA NOW App, customers can now access flexible financing options conveniently and securely, further enhancing their banking experience.”
To qualify for the Digital Personal Loan, customers must have been with NCBA for a minimum of 6 months and maintain an active personal account. The facility has a minimum period of 3 months for loans below Ksh. 50,000 and a maximum period of 12 months. It allows flexibility for customers to choose a repayment period that suits their financial situation.
All Digital Personal Loans come with credit life insurance provided by NCBA Bancassurance, offering financial protection to borrowers and their families.
The launch of this financing product is part of the umbrella initiative dubbed Lending for All. The initiative will see the Bank roll out a series of digital lending solutions in the course of the year.