MCo-op cash also known as salary advance is a loan product by Co-operative bank that enables its users to access three times their salary amounts repayable in duration of either 1,2 or 3 months.
However, this service is only accessible once you meet the eligibility requirements needed to qualify for the MCo-op cash loan.
Open a salary account with Co-operative bank.
In-order to use the service, you need to first hold a salary account with Co-operative bank.
To do this, you need to visit one of the bank’s branches of your choice and fill out an account opening form.
Register For MCo-op cash
To do this, all you require is your national ID card and a registered mobile phone number from any network provider in Kenya.
Registration can be done either through the MCo-op cash app available for Android or iOS devices as well as via the ussd code *667#
One of the reasons why MCo-op cash loan is referred to as salary advance, is that it requires one to be in employment and receiving a salary.
Possess 3 months active salary account
Once you have done the above, you should ensure that the salary account is active by channeling your salary through it for 3 consecutive months.
Upon completion of the above requirements, you can now proceed to apply for a MCo-op cash loan.
Categories: Loan Articles
Share your thoughts