I&M Bank Kenya Limited has doubled its unsecured credit limit from Kes5 million to Kes10 million to support customers seeking financial support amid the high cost of living.

Further, the Bank has increased its unsecured loan tenures within the small businesses sector from 12 months to 36 months to ease the burden on small businesses by providing a suitable repayment period.

The I&M Unsecured Personal Loan product has the added benefits of top-up for existing customers and takeover for new to-bank customers.

 I&M Bank General Manager for Personal and Business Banking, Shameer Patel, noted that the increase aligns with Lender’s iMara 2.0 strategy to innovate and launch customer-centric banking products and services.

“We are pleased to offer our customers the highest credit limit for unsecured personal loans in Kenya. By offering our customers more, we believe we will empower their prosperity,” he said.

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The loan limit increased after the lender waived bank-to-mobile wallet transfer fees for personal account holders.