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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 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
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.
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