Calculate the appraisal fee, excise duty, insurance premium, and repayment date on a Co-op Bank App loan from Co-operative Bank Kenya, based on your chosen loan amount, term, and start date.
The Co-op Bank App loan (formerly marketed as M-Co-op Cash) is Co-operative Bank Kenya's mobile lending product, accessed via the Co-op Bank App or the M-PESA menu (dial *667#), where it is listed as the "Salary Loan". Unlike KCB M-PESA or Timiza, which charge a single flat fee, the Co-op Bank App prices a loan in three term bands and repays it via automatic salary deductions rather than a single lump sum.
How Much Does a Co-op Bank App Loan Cost?
The Co-op Bank App charges a one-off appraisal fee of 8% for a 1-month term, 10% for a 2-month term, and 12% for a 3-month term, plus 20% excise duty on that appraisal fee and a 0.034% per-month insurance fee on the loan amount for every month of the term. A KES 10,000 loan over 1 month costs about KES 963 in combined fees.
What Are the Three Co-op Bank App Loan Bands?
The appraisal fee is not flat — it depends on the repayment term you select, not the loan amount: a 1-month loan is charged at 8%, a 2-month loan at 10%, and a 3-month loan at 12%. Choosing a longer term to spread repayment increases the fee rate charged on the same principal, and adds an extra month of insurance fee for every month you extend.
What Are the Co-op Bank App Loan Limits?
Co-op Bank App loans range from a minimum of KES 1,000 to a maximum of KES 500,000. Co-operative Bank additionally caps borrowing at roughly 1.5–2 times your net monthly salary, and requires your salary to be paid into a Co-operative Bank account, with eligibility starting from your first salary credit.
How and When Do I Repay a Co-op Bank App Loan?
Repayment is automatic, deducted from your salary account rather than paid manually. Co-operative Bank fixes the repayment date to the 19th of the month: a loan taken between the 1st and 10th of a month falls due on the 19th of that same month, while a loan taken between the 11th and the end of the month falls due on the 19th of the following month. For a 2- or 3-month term, this 19th-of-the-month deduction repeats for each month of the term.
Does the Co-op Bank App Loan Charge an Insurance Premium?
Yes — Co-operative Bank charges a loan insurance premium of 0.034% of the loan amount per month on every loan type, in addition to the appraisal fee and excise duty. A 3-month loan therefore carries three months of insurance fee, not one.
What Happens If I Repay Late?
Co-operative Bank does not publish a specific late-payment penalty for this product on its site — repayments are collected automatically from your salary account when due, so late payment typically arises only if your salary account lacks sufficient funds. Confirm current terms directly with Co-operative Bank before relying on this for a real repayment decision.
Verify with Co-operative Bank: This calculator applies the 8%/10%/12% appraisal fee bands, 20% excise duty on the appraisal fee, and 0.034%-per-month insurance fee published in Co-operative Bank's Co-op Bank App "Salary Loan" FAQ. It does not check the 1.5–2x net-salary borrowing cap, since that requires a salary figure this calculator doesn't collect — confirm your actual limit and final figure with Co-operative Bank before borrowing.
How is the Co-op Bank App loan fee calculated?
The Co-op Bank App charges a one-off appraisal fee that depends on the repayment term — 8% for 1 month, 10% for 2 months, and 12% for 3 months — plus 20% excise duty on that appraisal fee and a 0.034% per-month insurance fee on the loan amount.
What is the minimum and maximum Co-op Bank App loan amount?
Co-op Bank App loans range from a minimum of KES 1,000 to a maximum of KES 500,000. Co-operative Bank also caps borrowing at roughly 1.5–2 times your net monthly salary, and requires your salary to be paid into a Co-operative Bank account.
Why does the Co-op Bank App loan fee change with the loan term?
The Co-op Bank App prices loans in three term bands rather than a single flat fee — the appraisal fee rate rises from 8% to 10% to 12% as you choose a longer repayment period of 1, 2, or 3 months, and insurance accrues for every extra month.
Does the Co-op Bank App loan charge an insurance premium?
Yes — in addition to the appraisal fee and excise duty, Co-operative Bank charges a loan insurance premium of 0.034% of the loan amount per month, for every month of your chosen term.
When is my Co-op Bank App loan repayment due?
Repayment is deducted automatically from your salary account on a fixed monthly date: a loan taken between the 1st and 10th of the month falls due on the 19th of that same month, while a loan taken between the 11th and end of the month falls due on the 19th of the following month. For a 2- or 3-month term, this repeats each month of the term.
Is the Co-op Bank App loan the same as M-Co-op Cash?
Yes — M-Co-op Cash was Co-operative Bank's mobile loan brand and has since been rebranded as the Co-op Bank App loan (listed there as the "Salary Loan"), with the same fee structure.