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30 Day Loan
30 Day Loan
The I&M 30-Day Loan provides a fast and flexible solution for managing unexpected expenses or bridging short-term cash flow gaps. With a straightforward application process and immediate access to funds, you can enjoy the added benefit of cash back for early repayment. It’s an easy way to stay on top of your finances and meet your short-term needs.
Benefits
Instant Loan Processing via the I&M OTG Mobile App or Web
No collateral required
30-day repayment period
Part of fee charged refunded when you repay your loan early (10 Days)
Short Term Loan FAQ's
The Short-Term Loan is a quick, unsecured personal loan designed to meet your short-term financial needs. It is disbursed instantly to your account and is repaid in either 1 month, 3 months or 6 months.
You opt in by accepting the terms and conditions the first time you access the Short-Term Loan service on our platform. You can opt out anytime during the application process if needed.
Yes, once you opt in, you can view your loan limit and apply for the loan right away.
I&M Bank Short Term Loan offers a 1-, 3- or 6-Months Loan depending on eligibility. Monthly Installments are only applicable for the 3 months & 6 months loan.
You can access loan amounts from KES 1,000 to KES 300,000. Simply log in to Your I&M Bank OTG Mobile App and accept the terms and conditions to see your available loan limit.
No, you can access the I&M Bank Short-Term Loan using your existing I&M Bank OTG Mobile App credentials.
| Loan Type | Charges | ||
| 30-day Loan |
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| 3- & 6-Months Loan |
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You can borrow any amount starting from KES 1,000 up to KES 300,000.
Your loan limit is based on your transaction history and loan repayment behavior across all banks.
NB: Consistent, on-time loan repayments also contribute to an increase or reduction in your loan limit.
No, you can only hold one Short Term Loan at a time. Once you repay your current loan, you can apply for a new one.
No. You will pay a monthly installment.
If the loan is not repaid by the due date, an additional late repayment fee or interest will be charged.
The outstanding loan amount will be recovered from the operative account on the loan due date. You can also prepay your loan by selecting the “Pay Now” option under the Short-Term Loan menu on the I&M Bank OTG Mobile App.
The short-term loan does not require any documents to be uploaded during loan processing.
Yes, you can apply for the Short-Term Loan even if you have other loans as long as you are eligible.
Your loan limit can grow based on your repayment history and use of other I&M Bank services. Regular, timely payments will help increase your limit and lower your charges.
Reach out to the CRB that issued the report and inform them that the information contained in the report is disputed. The bureau will reach out to us and will rectify the information incase it was erroneous or inaccurate.
For an queries on the Short-Term Loan, contact the I&M Bank customer care on email [email protected] or call 0719 088 000.