The I&M Short Term Loan in Kenya is designed for customers who need easy and quick access to extra funds. This loan targets individuals faced with urgent expenses or those looking to bridge temporary cash flow gaps.

The loan offers up to KES 300,000 with flexible 30, 60, or 90-day terms. Most notably, no collateral is required, and funds are processed instantly via the I&M OTG Mobile App or web platform.

Customers benefit from competitive rates, with the 30-day loan option carrying a facility fee of 7.5%-12.5%, while 3- and 6-month loans have a one-off processing fee of 6%. Early repayment on the 30-day loan is rewarded by a cashback incentive.

How to Apply for the I&M Short Term Loan

1. Download or log into your I&M OTG Mobile App or visit the I&M web portal.

2. Accept the loan terms and conditions to opt in.

3. View your loan limit.

4. Select your preferred loan amount and repayment period (1, 3, or 6 months).

5. Receive instant disbursement upon approval.

Key Pros of the I&M Short Term Loan

No collateral is needed, making the application process smooth and quick. This is ideal for users without assets to pledge.

Funds are processed instantly once approved, helping borrowers address financial emergencies without delay.

Potential Cons of the I&M Short Term Loan

You can only hold one short-term loan at a time, limiting the ability to stack credit.

Late repayments incur extra fees or increased interest, putting pressure on timely payment management.

Notre verdict

I&M Short Term Loan offers a reliable, efficient, and flexible option for Kenyans in need of fast funds. Its friendly rates and easy process make it suitable for short-term borrowing needs. However, responsible use and timely repayments are vital to enjoy its benefits fully.