How to Activate KCB MPesa and Apply for Loan

KCB M-Pesa is a mobile money-saving and lending service by Kenya Commercial Bank. With KCB M-Pesa, you can access a mobile loan at an interest rate of 8.93% repaid in 30 days. The initial amount you can borrow depends on your credit score and how frequently you use M-Pesa services.

Additionally, saving more on KCB M-Pesa, borrowing, and repaying on time can increase your loan limit, gradually over time.

So, here are simple steps on how to activate KCB M-Pesa on your phone and how to apply for a mobile loan and repay it.

See also: How to Become a KCB Agent and Commission Earned

How to Activate KCB M-Pesa on Your Phone

To save and borrow money with KCB M-Pesa, you need to activate this product first on your mobile phone. Here’s how to activate KCB-M-Pesa on your line:

1. Go to M-Pesa Menu
2. Select Loans and Savings
3. Next, select KCB M-PESA
4. Finally, click on Activate.

Features of KCB M-Pesa Loan

• KCB M-Pesa allows you to borrow from as low as Ksh. 1,000 up to Ksh. 1 Million, depending on your loan limit.
• The loan is repayable in 30 days.
• There is a one-off interest rate of 8.93% paid together with the loan.
• The loan limit grows very fast as you borrow and repay on time.
• Has a rollover if you fail to repay at the end of the period.
• To check your loan limit, go to KCB M-PESA and select Loan, then Check Loan Limit.
• To access the loan from your KCB M-Pesa account, you can withdraw to your M-Pesa account at no additional cost.

How to Apply for a KCB M-Pesa Loan

To qualify for a KCB M-Pesa loan, you need to have been an M-PESA subscriber for at least 6 months, save on KCB M-PESA, and actively use other Safaricom services such as voice, data, and M-PESA.

If you meet these requirements, here’s how to apply for a KCB M-Pesa loan:

1. From the M-PESA menu, select Loans and Savings.
2. Select KCB M-PESA.
3. Next, select Loan.
4. Choose the option, Request Loan.
5. Then, enter the amount you wish to borrow, equal to or less than your loan limit.
6. Enter your M-PESA PIN and send.
7. You will receive a message from KCB M-Pesa confirming the loan transaction.
8. Your loan amount will be sent to your KCB M-PESA Account.

How to Repay the Loan

You should repay your KCB M-Pesa loan before the loan period is over to increase your loan limit and avoid being listed on CRB.

However, if the loan term ends before repayment, KCB M-Pesa will roll over the loan to an additional 1 month at an extra fee of 8.93%.

To repay your KCB M-Pesa loan:

1. Go to the M-Pesa menu and select Loans and Savings, then KCB M-PESA
2. Next, select Loan
3. Select Pay Loan
4. Choose whether to pay from M-Pesa or your KCB M-Pesa savings account
5. Enter the Amount
6. Enter your M-Pesa PIN and press OK
7. You will receive a text message confirming a successful transaction and the status of your loan.

See also: KCB Bank Student Loan, Details and How to Apply

KCB M-Pesa Contacts

• Email address: [email protected]
• Postal address: P.O. Box 66827, 00800 Nairobi
• Facebook: @kcbgroup
• X ( Formerly Twitter): @KCBGroup
• Instagram: @kcbgroup
• LinkedIn: KCB Bank Group

Also Read:

1. List of KCB Bank Branches in Kenya and Their Contacts
2. NCBA Bank Branches and Their Location
3. List of Mobile Loan Apps in Kenya and Their Interest Rates