KCB M-PESA Loan Request And Repayment 2021

KCB M-PESA Loan Request And Repayment 2021

KCB M-PESA account is a mobile-based virtual bank account offered exclusively to M-PESA registered customers allowing them to borrow micro loans between 50 and 1 million Kenyan shillings depending on the customer’s credit score. It is also used as a savings account at very competitive rates. Safaricom and KCB Bank are the two companies behind this project that allow their customers to save and borrow money at their convenience by simply using their phones.

KCB M-PESA Loan Application And Repayment 2021
KCB M-PESA Loan Request And Repayment 2021

Eligibility for the KCB M-PESA Loan

All frequent users of the Safaricom service and existing KCB account holders will be allocated a loan limit when they opt in to their KCBM-PESA account. Not all customers are immediately eligible for a loan. You need to replenish continuously until you achieve your goal.

To get a KCB M-pesa loan account, you will need to:

  • Be a registered safaricom M-pesa customer With KCB M-pesa Account
  • Have an active safaricom M-pesa account for at least 6 months.
  • Hold any of the following; Kenyan National ID, Kenyan passport, Alien ID, Diplomatic ID (Registered on IPRS), Military ID.

Registration

Using mySafaricom app

  • Access the M-Pesa Menu on your sim toolkit or via the mySafaricom app.
  • Pick loans and Savings.
  • Select KCB M-Pesa.
  • Hit the activate button.

Using USSD code

  • Dial *844# on your Safaricom line.
  • Accept the terms and conditions after reading them.
  • A pin will be sent on your device.
  • Dial *844# again and use the pin to access your account.

How to apply for a KCB M-PESA loan

KCB M-PESA Loan Request Procedures

  • Go to M-PESA menu
  • Select loans & savings
  • Select KCB M-PESA
  • Select loans
  • Request loan
  • Enter amount
  • Enter M-PESA PIN & submit.

NB: The loan will be deposited into your KCB M-PESA account. To access the loan, transfer the funds to your M-PESA. You can send and withdraw money for free to M-PESA from KCB M-PESA.

How To check KCB M-PESA loan limit?

  • Go to M-PESA menu
  • Select Loans and Savings
  • Select KCB M-PESA
  • Select Loan
  • Select Check Loan Limit.
  • What is the fee charged on a KCB

How To pay KCB M-PESA loan?

Using Safaricom Toolkit

  • Go to M-PESA menu
  • Select Loans and Savings
  • Select KCB M-PESA
  • Select Pay Loan
  • Select to pay from M-PESA or from your KCB M-PESA Account
  • Enter amount & follow prompts to complete.

Using M-PESA Paybill 522559

  • Go to M-PESA menu
  • Select Lipa na M-PESA
  • Select Paybill & Enter Business & enter 522559 as Business Number
  • Select Account no. & enter “Borrower’s ID number e.g. 12345678’’

Tips to Grow Your KCB M-PESA loan limit

  1. Increase activity on your KCB M-PESA account by moving money in and out of your account.
  2. Increase savings on your KCB M-PESA account.
  3. Increase usage of M-PESA services.
  4. Early and prompt repayment of KCB M-PESA loans

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