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How to Activate KCB MPesa and Apply for Loan

KCB branches in Kenya and Contacts, agents, M-Pesa loan services, send money to mobile, mobile banking, salary advance loan, other loans. savings account

KCB MPesa is a mobile money-saving and lending service by Kenya Commercial Bank. With KCB MPesa 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 MPesa, borrowing and repaying on time can increase your loan limit gradually with time.

This article explores simple steps on how to activate KCB MPesa 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 MPesa on Your Phone

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

  • KCB MPesa 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 in 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 MPesa account, you can withdraw to your M-Pesa account at no additional cost.

Requirements for the Loan

In order to qualify for a KCB MPesa 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.

How to Apply for a KCB MPesa Loan

KCB M-Pesa open savings account and borrow loan

To apply for a KCB MPesa loan follow the steps:

  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 Mpesa confirming the loan transaction.
  8. Your loan amount will be sent to your KCB M-PESA Account.

How to Repay the Loan

You need to 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 repaying, KCB M-Pesa will roll over the loan to an additional 1 month at an extra fee of 8.93%.

You do not require a paybill number to repay a KCB M-Pesa loan. To repay your 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 From 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.

KCB MPesa Contacts

  • Email address: contactcentre@kcb.co.ke
  • 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

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