KCB MPESA Loan

KCB MPESA Loan

KCB MPESA Loan is a mobile based loan account offered exclusively to KCB customers enabling them access loans at attractive low interest rates of 1.16% per month with a one-off negotiation fee of 2.5%.

The cost for the one month KCB MPESA loan is 3.66% with excise duty applicable on fees.

With the MPESA Loan one can save for a fixed period of time (Fixed Deposit Account) or save a little at a time for a set period (Target Savings Account) and earn interest of up to 7% p.a.

KCB MPESA Loan also allows you to transfer money in and out of the KCB MPESA Account for FREE.




 
How to apply for KCB MPESA Loan

To apply for KCB MPESA Loan is quite easy. Just go to your MPESA menu on your phone.

Next select Loans and Savings, then lastly select KCB MPESA and Activate.

Once activated you will have an option of Deposit from MPESA, Withdraw to MPESA, Loan, Fixed Saving Accounts and My Account under the KCM MPESA menu.

KCB MPESA Loan Features

When you finish applying for your loan account, you will be able to check for your loan limit. Once you have your loan limit, you can now borrow instantly.

Loan issued are deposited into the KCB MPESA Account.

You can access loan limits from as low as Ksh. 50 and up to Ksh. 1Million with 30 days repayment periods.

Loan repayment can be made via MPESA or from the KCB MPESA account.

How do I check my loan limit?

  • Access the MPESA menu.
  • Select Loans and Savings.
  • Select KCB MPESA.
  • Select Loan.
  • Request Check Loan Limit.

How do I get a loan from KCB MPESA Account?

  • Access the MPESA menu.
  • Select Loans and Savings.
  • Select KCB MPESA.
  • Select Loan.
  • Request Loan.
  • Enter amount.
  • Enter your MPESA PIN
  • Loan amount will be sent into your KCB MPESA Loan Account less the interest charged which is deducted upfront.
  • To access, the loan, go to KCB MPESA menu and select Withdraw to MPESA.

How do I pay my KCB MPESA Loan?

  • Access the MPESA menu.
  • Select Loans and Savings.
  • Select KCB MPESA.
  • Select Pay Loan.
  • You can pay from MPESA or from your KCB MPESA Account.

I cannot access a KCB MPESA loan. What are some of the reasons for this?

  • You have been listed with the Credit Reference Bureau.
  • You already have an existing KCB MPESA loan.
  • You have a low credit rating.

How do I grow my loan limit?

  • Increase activity on your KCB MPESA Account by moving money in and out of your Account.
  • Increase savings on your KCB MPESA Account.
  • Increase usage of MPESA services.