Prime Bank enters mobile loans business
Monday December 06 2021
Prime Bank head office in Nairobi. FILE PHOTO | NMG
Prime Bank has entered the mobile lending business with short-term loans, seeking to grow its customer base in the mass market.
Borrowers will access loans from Sh5,000 to Sh150,000 with repayment periods between 30 days to three months.
The lender launched the services on Monday dubbed PrimeKopa and mobile app PrimeMobi.
Mobile banking has become the cornerstone of serving the masses, enhancing convenience to customers while reducing the need for banks to expand their brick-and-mortar branches.
“PrimeKopa seeks to provide customers access to mobile loans with flexibility in terms of repayment in a seamless, paperless, and digital manner. We believe PrimeKopa will offer customers a differentiated digital banking experience,” said the Managing Director Bharat Jani.
The bank says customers will enjoy instant disbursement of funds after…