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How to apply for an MCo-op Cash Salary Loan from Co-operative Bank

Salaried individuals who receive their salaries can easily apply for MCop-op Cash Salary Loans from Co-operative bank of Kenya and pay it later.

The opportunity to get an advance loan is not only available for Salaried individuals but for business individuals with accounts with Co-operative bank.

Once you open a Co-op Salary Account and receive your first salary, you can apply for an Co-operative bank offers MCo-opCash salary loan of up to 30% of the salary amount on your phone and with time, the amount is gradually increased up to Ksh 200,000.

For the Co-op Business Account, you can apply for an MCo-opCash business loan of up to Ksh 500,000 through your phone!

There are two methods one can use to apply for MCo-op salary loan. The first one is by the use of USSD short code method through dialing *667# and the second one is through the use of MCo-op mobile app.

How to apply for an Mco-op Cash Salary Loan

Here are simple steps you should follow to apply for a salary loan:

  • Dial *667# or use the MCo-opCash app
  • Login with your MCo-opCash PIN.
  • Navigate to ‘Loans’ on the main menu.
  • Select ‘Salary Loan’.
  • Follow the easy steps.

The loan will be deposited to your Mco-op account immediately and from here you will be able to withdraw the funds.

With MCo-op Cash App, you can apply for up to a maximum of Ksh.200,000 of 1.5 times your net salary.

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Requirements to apply for an MCo-op salary Loan

There are no approvals from your employer or guarantors required. Just you and your mobile phone.

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What one only needs is to have an active account either a salary account or a business account. You will need to link your mobile line with your account to be able to access the MCo-op cash loan.

Alternatively, using the Mco-op cash mobile way is the easiest and most flexible way to access advance salary loan or business loan with Co-operative bank.

What to do when your MCo-op Salary loan application Fails

Sometimes you may find yourself between a hard place and a rock when applying for your MCo-op cash salary loan and your application is rejected. In this case there are two possible reasons why you were denied the loan

One: You applied above your limit

Should your MC-op salary loan application fail there is a possibility that you applied above your limit. Try applying with a lower limit and you will be granted your advance salary loan request.

Two: CRB Listing or low credit score

Low credit score and CRB listing are some of the major reasons your MCo-op cash salary loan application was rejected. Usually this happens when you have had poor previous repayment records or your account transactions have drastically reduced affecting your score. Mobile money largely relay on your Credit score to determine your loan worthiness.

In this case seek CRB services for assistance to regain your good standing and start getting the loan.


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