How To Get A Loan Through KCB Mpesa

This article is about how to get a loan through KCB Mpesa. KCB Mpesa is a joint initiative of KCB and Safaricom launched in March 2015 to provide loans at attractive interest rates. The project has seen great success since its inception. For example, loans from the platform have doubled to Sh20 billion, according to a recent report by KCB group managing .

Contents show

The KCB Mpesa loan has an interest rate of 1.12% per month and a one-time transaction fee of 2.5%. Transferring money to KCB M-PESA accounts is free, which is a big plus of the service. The one-month loan rate is 3.62% and interest charges will be applied to the loan.

Requirements to have a KCB MPesa account

You just need to be a registered and active Safaricom M-PESA customer.

How to register on KCB Mpesa

Go to your menu menu
Choose loans and money and
Select KCB M-PESA and activate

How To Get A Loan Through KCB Mpesa

After you open your KCB Mpesa account, you will receive a loan amount that you can borrow immediately.

The loan amount is deposited into the KCB M-PESA account.

You can access loan limits ranging from Ksh 50 to Ksh 1 million with a 30 day repayment period.

It is good to note that the loan that will be sent to your KCB M-PESA account will be less interest, trading fees and excise duties which are deducted in advance.