Standard Chartered Bank has rolled out a program to give unsecured loans amounting to Ksh. 10 billion to their customers over the next 45 days.
The lender has set out a few conditions that customers should meet in order to access the said loans
- The loans are available to salaried individuals only.
- A single borrower can apply for up to kes7million
- Successful applicants will enjoy a month of grace period before regular deductions commence.
- Repayment can be done within up to 72months (6years)
This high risk venture by the bank came after the bank conducted a research that revealed that that was a product that the customers have requested most.
The service will end on the 11th of October 2017.
Standard Chartered Bank is a bank of many firsts as it was also the first bank to introduce video banking in Kenya.
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