Kamilisha is Co-op Bank’s instant overdraft facility offering up to KSh 100,000 via mobile channels, with flexible repayment and transparent fees designed to support urgent transactions for individuals and SMEs.
What Is Kamilisha?
Kamilisha is a short-term overdraft facility by the Co-operative Bank of Kenya, accessible via the MCo-opCash app, USSD, and other digital platforms. It allows eligible customers to complete transactions instantly.
- Maximum limit: Up to KSh 100,000
- Tenure: 30 days from first use
- Access channels: Mobile app, USSD, ATM, POS, agency banking
- Eligibility: Based on account activity, salary history, and credit score
Customers can opt in via the Omni Channel platform and use the facility for eligible transactions only, such as rent, utilities, stock purchases, and money transfers.
Fee Structure and Cost Breakdown
Kamilisha’s charges are clearly defined and competitive:
| Fee Type | Rate/Amount |
|---|---|
| One-time access fee | 2% of the borrowed amount |
| Excise tax on access fee | 20% |
| Daily maintenance fee | 0.2% of the outstanding balance |
| Credit life insurance | 0.034% monthly |
Example: For a KSh 1,000 overdraft held for 30 days:
- Access fee: KSh 20
- Excise tax: KSh 4
- Insurance: KSh 0.34
- Daily fee: KSh 2 × 30 = KSh 60
Total cost: ~KSh 84.34 → Effective monthly rate: ~8.43%
Charges are automatically deducted from the overdraft or any incoming deposits. Customers receive SMS notifications for fees incurred via non-digital channels.
How to Opt In and Use
To activate Kamilisha:
- Log in to the MCo-opCash app or USSD
- Navigate to E-loans → Select Kamilisha
- Accept terms and confirm opt-in
Repayment is automatic from any incoming funds. Customers can opt out only after full repayment and limit restoration.
Comparison With Fuliza and Boostika
| Product | Max Limit | Monthly Cost (KSh 1,000 loan) | Repayment Period |
|---|---|---|---|
| Kamilisha | 100,000 | ~KSh 84.34 | 30 days |
| Boostika | 100,000 | KSh 85 | 30 days |
| Fuliza | 70,000 | KSh 180 | Daily charges |
Kamilisha’s slightly lower cost and structured repayment terms make it a viable alternative for borrowers seeking short-term liquidity without excessive fees.
Safeguards and Conditions
- Transactions are final and irrevocable once authorised
- Overdraft visibility does not guarantee usage for non-eligible transactions
- Defaults may be reported to Credit Reference Bureaus (CRBs)
- Credit life insurance covers the outstanding balance in case of death or permanent disability
