FAQ's

See below all Frequently Asked Questions

Buy Now Pay Later

The I&M Bank Buy Now Pay Later loan is an unsecured loan designed to enhance the bank’s offerings for existing individual customers. It enables them to make immediate purchases and pay for them flexibly over a predetermined period.

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

When you decide 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 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 in the section below.

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.

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.

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

The Buy Now Pay Later loan application does not require any documents to be uploaded.

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.

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.

  • Processing Fee of 4%,
  • Interest rate of 2% per month
  • Credit life insurance premium of 035% and
  • Late interest fee of 15% per annum

NB: All fees are exclusive of excise duty.

All charges shall be displayed to the customer for acceptance. Customers must have enough funds in their selected repayment account to cover ALL charges.

The loan tenor varies between 1-12months depending on the loan amount requested. You can choose to repay the loan earlier than the due date.

  • Minimum Amount – Kes 20,000
  • Maximum Amount – Kes 350,000

The Buy Now Pay Later loan limit is determined by your account activity with I&M Bank, CRB Status and repayment history of any previous loans.

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. Once a return is processed, your Buy Now Pay Later loan balance will be adjusted accordingly.

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

For BNPL loan related queries, please contact IM Bank customer care on [email protected] or call +254203221000, 0719 088 000, 0732 100 000.

I&M Milele Rewards FAQs and T&Cs

You will receive notifications about special promotions, such as bonus point offers, via:
· Email
· SMS alerts
· Push notifications through the I&M Mobile Banking App

Be sure to keep your contact details up to date to receive timely information about exclusive offers and promotions to help you earn more Milele Points.

No, Milele Points are not earned on refunded or reversed transactions. If a transaction that initially earned points is later refunded or reversed, the points associated with that transaction will be deducted from your account.

Yes, upgrading to a higher-tier I&M Credit or Debit Card will allow you to earn more points for your transactions. For example, Mastercard World cardholders earn points at a higher rate than Mastercard Platinum cardholders. This means you can accumulate Milele Points faster when you use a premium card for your purchases.

Yes, supplementary cardholders can also earn Milele Points for their eligible transactions. The points earned by the supplementary cardholder will be credited to the primary cardholder's account, allowing the primary account holder to redeem the rewards.

There are no caps or limits on the number of Milele Points you can earn. As long as you continue making eligible transactions with your I&M Debit or Credit Card, you will keep accumulating points with no restrictions.

If you close your I&M Bank card account, any unused Milele Points will be forfeited. It’s recommended to redeem your points before closing your account to avoid losing them.

Yes, international transactions are eligible for Milele Points, and you may even earn triple points for international purchases made with your I&M Bank card.

Yes, recurring payments, such as utility bills or subscription services, qualify for Milele Points, provided they are made with your I&M Debit or Credit Card.

If your card is lost or stolen, you do not lose your Milele Points. They remain in your account and can be accessed once a replacement card is issued. Be sure to report the lost or stolen card immediately to I&M Bank for security purposes.

Points for qualifying transactions, that is Point of Sale (POS) and e-commerce purchases, will typically be credited to your account on the following business day after the transaction is processed. For certain types of transactions, processing may take additional time, and points will appear once fully processed.

If you experience any issues with your Milele Points, such as missing points or difficulties with redemption, you can contact I&M Bank Customer Service for assistance. They can help resolve any problems or discrepancies.

No, Milele Points cannot be transferred to other individuals or accounts. They are intended for the cardholder who earned them. However, you can redeem points for gifts or services that can be shared with others.

Yes, Milele Points are subject to expiration 36 months from the date they were earned. Make sure to redeem your points before they expire to avoid losing them.

If you do not have enough Milele Rewards Points to redeem a particular reward, you can use the Top Up option, which allows you to combine your available points with cash or credit. During the redemption process, select Top Up to cover the remaining balance with a card payment, ensuring you can still claim your desired reward even if your points are not enough.

This feature offers flexibility, allowing you to enjoy rewards without waiting to accumulate more points.

7.1 How do I redeem a voucher using Milele Points?

To redeem Milele Points for a voucher, log into the I&M Bank Online Banking portal or mobile app and select your reward option. Once redeemed, you will receive an eVoucher via SMS, which can be used at our various partner merchant locations.

7.2 How do I check my voucher balance?
To check your balance, dial *483*18#, and your balance will be displayed at the top of the dialog box.

7.3 Can I redeem my voucher partially?
Yes, our vouchers allow partial redemptions. Simply enter the amount you wish to redeem when making a payment.

7.4 Where can I use my eVoucher?
You can redeem your voucher at our various partner merchant locations. To make a payment, dial *483*18#, choose "Redeem," enter the branch till number, and specify the amount.

7.5 What is the validity period for eVouchers?
The validity period of the voucher is included in the SMS you receive with the voucher details.

7.6 What if I don’t receive my SMS?
If you do not receive the SMS, ensure you have not opted out of promotional messages. If issues persist, contact the I&M Contact Centre for alternative delivery options, such as email.

To redeem your Milele Points, visit the Milele Rewards section in the I&M Bank Online Banking portal or mobile app. You can browse a variety of reward options, including:
· Airline tickets
· Hotel stays
· Vouchers
· Cashback

Follow the prompts to redeem your points based on your balance and reward preferences.

You can easily track your Milele Rewards Points balance by:
· Logging into the I&M Bank Online Banking platform.
· Checking the I&M Mobile Banking App.
· Referring to your monthly statements, which provide a detailed breakdown of points earned and redeemed.

For additional help, you can contact I&M Bank Customer Service.

Enrollment in the Milele Rewards Program is automatic when you receive and activate your I&M Bank Debit or Credit Card. There’s no separate sign-up process required. You can begin earning points immediately after using your card for eligible transactions.

For every transaction you make using your I&M Debit or Credit Card, you automatically earn Milele Points. The number of points earned depends on your card type and the amount spent:

PRODUCT MILELE POINTS (% OF CARD SPEND)
KES TXNS NON-KES TXNS
MC WORLD CREDIT 0.30% 2.00%
VISA INFINITE CREDIT 0.30% 1.50%
MC WORLD ELITE DEBIT 0.25% 1.00%
VISA GOLD CREDIT 0.15% 1.00%
VISA CLASSIC CREDIT 0.15% 1.00%
MC WORLD DEBIT 0.20% 0.75%
MC PLATINUM DEBIT 0.15% 0.50%
VISA TAMARIND GOLD CREDIT 0.15% 0.30%
VISA PLATINUM DEBIT 0.10% 0.30%
VISA CLASSIC DEBIT 0.10% 0.30%
USD TXNS NON-USD TXNS
VISA USD GOLD DEBIT 0.10% 0.30%

You can redeem your accumulated points for:
· Airline tickets
· Hotel stays
· eVouchers
· Cashback

The I&M Bank Milele Rewards Program is a loyalty program designed to reward you for using your I&M Bank Debit or Credit Card. Every time you spend on eligible transactions using your I&M card, you earn Milele Points. These points can be redeemed for various rewards such as travel-related services, vouchers, or cashback. Enrollment in the program is automatic for all I&M Bank cardholders.

Short Term 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

Unsecured Loans

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