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

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 M-PESA offers a minimum loan amount of Ksh50 to a maximum amount of Ksh1M 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 KCB M-PESA 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