KCB Mpesa Loan Penalties For Late Repayments

KCB Mpesalate loan repayment1

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.

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.

The loan attracts a fee rate of 7.5% with a repayment period of 30 days.

Failure to repay the loan upon due date will attract penalties as outlined in KCB MPesa’s Terms and Conditions.

KCB MPesa T&C

 



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7 replies

  1. I’m an embarrassed kcb user. For almost three weeks the M- banking services are not operating due to this Vooma which is not operational. I’ve downloaded it, it says my account is not linked to Vooma. I’ve called customer care but no action. I took myself to Village market KCB branch they took my details to send to my main bank. Up to know nothing and nothing has happened.
    Since I’ve a loan and I need to pay. Who will pay for KCB neglect the penalties
    I’m embarrassed customer and thinking to change my Bank now. I’ve wasted a lot of resources and credits with no problem solved

  2. I’m an embarrassed kcb user. For almost three weeks the M- banking services are not operating due to this Vooma which is not operational. I’ve downloaded it, it says my account is not linked to Vooma. I’ve called customer care but no action. I took myself to Village market KCB branch they took my details to send to my main bank. Up to know nothing and nothing has happened.
    Since I’ve a loan and I need to pay. Who will pay for KCB neglect the penalties
    I’m embarrassed customer and thinking to change my Bank now. I’ve wasted a lot of resources and credits with no problem solved

  3. I delayed my loan repayment,but unfortunately, if I borrow it is declined,for how long can I wait to borrow again?

  4. I defaulted your loan but i late paid but u hard been blacklisted me to crb up to now my account has not been updated pliz help

  5. I defaulted your loan and now i try to pay but you confirm i have no loan.what will i do to settle this loan

Trackbacks

  1. Can’t Pay Mobile Loan On Time?? Here’s What To Expect From Various Lenders. – Konvigilante
  2. How To Pay KCB Mpesa Loan For Another Number [2021] – Konvigilante

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