NAIROBI, Kenya, May 3 – I&M Bank Kenya Limited has doubled its unsecured credit limit from Sh5 million to Sh10 million.
According to a statement from the lender, the increased loan limit is in response to feedback from salaried customers who are seeking more financial support due to the high cost of living.
The lender has also increased its unsecured loan tenures within the small businesses sector from 12 months to 36 months to ease the burden on small businesses by providing a suitable repayment period for them.
The I&M Unsecured Personal Loan product has the added benefits of top-up for existing customers and takeover for new to bank customers.
“In line with our iMara 2.0 strategy to innovate and launch customer-centric banking products and services, we are pleased to offer our customers the highest credit limit for unsecured personal loans in Kenya. By offering our customers more, we believe we will empower their prosperity,” said I&M Bank General Manager for Personal and Business Banking, Shameer Patel.
The increased loan limit comes just after the lender waived bank-to-mobile wallet transfer fees for personal account holders.
