KCB Mpesa loan

KCB MPesa is a mobile loan service formed through a partnership between Kenya Commercial bank ( KCB ) and Safaricom’s mobile money service MPesa.

It is accessible from the SIM toolkit, as well as from the MySafaricom app.

REQUIREMENTS

In order to qualify for a KCB M-PESA Loan, you must be at least 18 years old, a registered and active M-PESA subscriber for at least six (6) months and an active KCB M-PESA account holder.

REGISTRATION PROCESS

  • Access the M-PESA menu.
  • Select Loans and Savings.
  • Select KCB M-PESA.
  • Select Activate

LOAN AMOUNTS

KCB MPesa offers a minimum loan amount of Ksh 50 to a maximum amount of Ksh 1M with each loan increment being dependent on a variety of factors including account activity.

FEE RATE

The loan attracts a fee rate of 7.5%

REPAYMENT DURATION

The loan is repayable within a period of 30 days.

REPAYMENT PROCEDURE

Method 1 ( via SIM toolkit )

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

Method 2 ( via mySafaricom app )

  • Open the mySafaricom app and access the M-PESA tab.

  • Select Loans and Savings.
  • Select KCB M-PESA.
  • Select Loan.
  • Select Pay Loan
  • You can pay from M-PESA or from your KCB M-PESA Account.

APP PERMISSIONS

For mySafaricom app users only.

This app has access to:

  • Device & app history- retrieve running apps
  • Identity- find accounts on the device and read your own contact card
  • Contacts- find accounts on the device and read your contacts
  • Location- approximate location (network-based) and precise location (GPS and network-based)
  • Phone- read call log and read phone status and identity
  • Photos/Media/Files- read the contents of your USB storage and modify or delete the contents of your USB storage
  • Storage- read the contents of your USB storage and modify or delete the contents of your USB storage
  • Camera- take pictures and videos
  • Wi-Fi connection information- view Wi-Fi connections
  • Device ID & call information- read phone status and identity

Other

  • update component usage statistics
  • read historical network usage
  • receive data from Internet
  • view network connections
  • full network access
  • control Near Field Communication
  • read terms you added to the dictionary
  • run at startup
  • control vibration
  • prevent device from sleeping
  • add words to user-defined dictionary
  • install shortcuts
  • uninstall shortcuts
  • read Google service configuration

HOW TO GROW LOAN LIMIT

  • Increase activity on your KCB M-PESA Account by moving money in and out of your account.

  • Increase savings on your KCB M-PESA Account.
  • Increase usage of M-PESA services.

LATE REPAYMENTS

If the loan is overdue for more than 30 days but less than 90 days, penalty period is 3 months. If the loan is overdue for more than 90 days, you are listed on CRB.

OVER PAYMENTS

The excess funds are deposited in your KCB M-PESA account.

REPAYMENT DATE EXTENSION

None.

CONTACT DETAILS

Email: contactcentre@kcbgroup.com

Tel: +254 (711) 087 000

Tel: +254 (732) 187 000

Tel: +254 (711) 087 000

Sms: 22522