FAQ's

The loan is available to existing individual bank customers who meet the eligibility criteria.

The Buy Now Pay Later loan enables you to buy items immediately and make flexible payments in installments over a predetermined period.

The loan can be used at participating outlets. Detailed list is available on (Buy Now Pay Later Deals - IM Bank kenya (imbankgroup.com))

You opt in by accepting the Terms and Conditions during the first access to the Buy Now Pay Later Loan product on the OTG mobile banking app or web services.

You can apply for the Buy Now Pay Later loan through our OTG mobile banking app or web services.

Once you opt-in, you will be able to view your Buy Now Pay Later loan limit.  It is important to note that this loan is exclusively available for purchases at participating outlets.

By logging into the OTG retail app or web and accepting the Terms and Conditions for the Buy Now Pay Later facility, the loan limit will be displayed to you.

When you opt to utilize the Buy Now Pay Later loan at any of the participating outlets, I&M Bank will make payment to the outlet on your behalf. Subsequently, a loan will be initiated under your I&M Bank account.

The loan application process is instant, you will have a pre-approved limit once you opt in for the service.

You will get a message notification from the Bank on the same.

Upon loan approval, the Bank will disburse the funds to the retailer's account.

By logging into the OTG retail app or web and accepting the Terms and Conditions for the Buy Now Pay Later facility, the loan limit will be displayed to you.

Yes, you can apply for the Buy Now Pay Later loan even if you have existing loans with the bank, provided you meet the eligibility criteria.

Yes, you can have multiple Buy Now Pay Later loans for as long as you are within your available limit.

The repayment options are;

• The instalment amount due will be automatically deducted from your I&M account on the due date.
• On the OTG mobile banking app or web services, under the Buy Now Pay Later menu select “Repay loan” tab and initiate repayment either partially or full.

No, there are no early repayment penalties for your Buy Now, Pay Later loan.

If you miss a payment, you will incur extra fees and interest. It is important to ensure your account is funded before the due date to avoid penalties. ​

If you have queries/concerns/disputes with your purchase in terms of warranty, return, replacement, and cancellation, please contact the retailer outlet directly.

Returns and refunds are subject to the retailer outlet’s return policy. Your loan will be maintained unless you opt to clear the loan

Yes, you can opt - out of the product as long you do not have any outstanding Buy Now Pay Later loans.

The I&M 30-Day Loan is a quick, unsecured loan designed to meet your short-term financial needs. It is disbursed instantly and must be repaid within 30 days.

Opt in by accepting the terms and conditions the first time you access the I&M 30-Day 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.

The loan must be repaid within 30 days, but you can choose to repay earlier if you wish

Log in to OTG and accept the terms and conditions to see your available loan limit. You can access loan amounts from 50,000 to 3,000,000.

No, you can access the I&M 30-Day Loan using your existing OTG credentials.

• Facility Fee of between 9.5%-12.5%
• 20% Excise duty on the facility fee.
• Late payment fee of 10.5% charged on the loan amount.

You can borrow between KES 1,000 and KES 100,000

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 charges

No, you can only hold one 30-Day Loan at a time. Once you repay your current loan, you can apply for a new one.

If the loan is not repaid within 30 days, an additional late payment fee of 10.5% will be charged on the loan exclusive of excise duty.

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 “Repay Loan” option under the I&M 30-Day Loan menu on OTG.

Yes, if you repay the loan early a percentage of the upfront charge/fee will be refunded back to your account.

NB: Look out for the early repayment SMS prompt.

The short-term loan does not require any documents to be uploaded during loan processing.

Yes, you can apply for the 30-Day Loan even if you have other loans with us, as long as you can manage the additional repayment.

Your loan limit can grow based on your repayment history and use of other I&M 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 in case it was erroneous or inaccurate

For an queries on the I&M 30 Day loan, contact the I&M Bank customer care on email [email protected] or call +254203221000, 0719 088 000, 0732 100 000

Log in to the I&M Bank OTG mobile banking app or web services and opt in to the loan service to begin your application.

Accepting the Terms and Conditions when first accessing the Unsecured Personal Loan product on the OTG app or web service. Proceed to apply for a loan

NB: Should you have any difficulty visit your nearest branch for assistance.

The application process is instant.

Min 50,000 max. 3,000,000 depending on your eligibility and limit assigned.

Check your limit by logging into the I&M Bank OTG mobile banking app or web services and accessing the loan section.

When you have already opted in, log into the I&M Bank OTG app or web service, click on Personal Unsecured Loan, you will see your indicative loan limit.

NB: This may change while applying as some checks are done during loan application e.g. current CRB status, recent I&M account activity etc.

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 charges. 

Yes, your loan limit will be periodically reviewed to determine whether it should be kept as is, increased or decreased based on your account turnover, account activity, repayment history on previous loans, CRB status and other product rules.

Your loan limit can grow based on your repayment history and use of other I&M services. Regular, timely payments will help increase your limit and lower your charges.

You can choose a suitable loan duration from 6 months to 36 months.

• Processing Fee of 4% of the loan amount, charged one off.
• 20% excise duty charged on the processing fee amount.
• Interest rate varies per customer.
• Credit life insurance premium of 0.035% and PHCF (Policy Holders Compensation Fund) of 0.25% of the credit life insurance premium.

NB: Subject to change due to prevailing market and regulatory conditions.

Yes, you will however need to open a Kenyan shilling account for the loan to be disbursed.

Your loan instalment shall be recovered from operative account every due date.

Yes, you can prepay your loan by tapping the "Repay Loan" icon on I&M OTG App home screen or through our web services.

If you miss a payment, you will incur additional fees and interest. Ensure your account is funded on the loan due date to avoid penalties.

Yes, you can opt out of the loan service at any time, if you have no open loan.

Yes, loan top up is available for customers who have serviced their current monthly loan installments on time for 6 months and satisfy the top-up criteria.

• You must have made timely repayments on previous loans.

• Your existing loan(s) should not be in arrears.

• Your existing loan should have been serviced for greater than 6 months

• You should not have defaulted on any previous loan

Login to the I&M OTG App to apply for the top up loan.

We have other lending products available to bank customers. Contact your relationship manager or visit the nearest branch for guidance.

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 in case 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 +254203221000, 0719 088 000, 0732 100 000