How to Apply for a Cooperative Bank of Kenya Loan Using Your Mobile Phone

The procedure to apply for a cooperative bank of Kenya loan using your mobile phone is fairly straightforward.

First, you need to dial *667# on your phone. This should take you to the Cooperative Bank of Kenya mobile banking USSD platform. There, you will be required to enter your PIN, before proceeding.

Once you are on the Cooperative Bank of Kenya mobile banking USSD platform, you need to browse through the menu, and select the ‘Loans’ option.

Upon getting to the loans section of Cooperative Bank of Kenya mobile banking USSD platform, you need to specify that you wish to apply for a loan. (So you will find options like the one for paying loan, one for checking loan balance e.t.c). Specify that you wish to apply/request for a m-coop cash loan.

You will then be required to specify the Cooperative Bank of Kenya mobile loan amount you wish to apply for. You may also be required to specify the repayment period you wish to work with. It may be important for you to first check your loan limit (the maximum amount you can borrow, for the M-Coop Cash loan), before proceeding to make the application. If you try to borrow more than you are qualified for, chances are that your Cooperative Bank of Kenya mobile loan application wouldn’t go through.

So the most important thing, when it comes to applying for Cooperative Bank of Kenya mobile loan is to just dial *667# on your phone, then select ‘Loans’ and enter the required details to complete the loan application.

Sometimes, I have noticed that it takes quite a few minutes between when you complete the Cooperative Bank of Kenya mobile loan application and when the money actually lands in your account. There can also be instances where the money is credited to your account almost instantly, but the notification message takes a while before it gets to your mobile phone. So you may be thinking that your Coop Bank mobile loan application wasn’t successful, while in fact, it did go through and the funds may already be in your account: but only with the notification message delayed. That is why, a few minutes after completing the m-coop loan application, I usually check the account balance – to see if the loan funds have been credited, after which I can proceed to utilize them…

For all this to work, you would need to have registered for Cooperative Bank of Kenya mobile banking. It is only after registering for Cooperative Bank of Kenya mobile banking that you are able to use the *667# facility. In my experience, the easiest and most straightforward way to undertake that registration is to simply venture into your local Cooperative Bank of Kenya branch, go to the customer service desk, and inform the people there that you wish to register for mobile banking. They can do it for you within as few as three minutes. Another option is that of ticking, while filling in your Cooperative Bank of Kenya account opening forms, to indicate that you wish to be enrolled for Mobile Banking right from the outset.

Once you have completed the Cooperative Bank of Kenya mobile phone loan application, you can proceed to withdraw the funds from an ATM machine – just the way you would withdraw any other funds from your coop bank account. You may also have the option of transferring the funds from your Cooperative Bank of Kenya account to your M-Pesa account, after which you can proceed to withdraw the funds from any M-Pesa agent.

After successfully applying for a Cooperative Bank of Kenya mobile loan, it is important for you to remember to repay it in a timely manner – in order to qualify for more loans in the future.