How to sign up

KCB M-PESA

  1. Access through the M-PESA menu
  2. Select Loans and Savings
  3. Select KCB M-PESA and Activate

 

KCB M-PESA Terms and Conditions



Features

  • Loans
    • Upon activating the account, you will be issued with a loan limit from where you can borrow instantly. Loans issued are deposited into the KCB M-PESA Account.
    • You can access loan limits from as low as Kes. 50 and up to Kes. 1M.
    • Enjoy repayment periods of 30 days.
    • Loan repayment can be made via M-PESA or from the KCB M-PESA account.

    How does it work?

    • Access the M-PESA menu.
    • Select Loans and Savings.
    • Select KCB M-PESA.
    • Select Loan.
    • Request Loan.
    • Enter amount.
    • Enter your M-PESA PIN
    • Loan amount will be sent to your KCB M-PESA Account less the interest, negotiation fee and excise duty which is deducted upfront.
    • To access, the loan, go to KCB M-PESA menu and select Withdraw to M-PESA.

    How does it work?

    • Access the M-PESA menu.
    • Select Loans and Savings.
    • Select KCB M-PESA.
    • Select Loan.
    • Request Loan.
    • Enter amount.
    • Enter your M-PESA PIN
    • Loan amount will be sent to your KCB M-PESA Account less the interest, negotiation fee and excise duty which is deducted upfront.
    • To access, the loan, go to KCB M-PESA menu and select Withdraw to M-PESA.
  • Savings

    There are two types of fixed deposit accounts available to you as a KCB M-PESA Account holder. They include;

    Fixed Savings Account

    This account allows you to lock a specific amount of cash for a period of up to 12 months.

    How does it work?

    • Access M-PESA menu
    • Select Loans and Savings, KCB M-PESA
    • Select Fixed Savings Account
    • Select Fixed deposit
    • Open Account
    • Select source of funds;
      • M-PESA
      • KCB M-PESA
    • Enter amount (amount needs to be more than KES 500)
    • Enter period (1, 3, 6 or 12 months)
    • Enter M-PESA PIN and confirm transaction
    • You will receive an M-PESA confirmation.

    Benefits

    • Locked periods include 1, 3, 6, and 12 months with minimum amount of Kshs.500.
    • Upon early or premature redemption, you will forfeit all interest accrued.
    • You get cash back immediately to KCB M-PESA account on prompting cash back.
    • Earn attractive Interest rates of 6.65% p.a on your savings.
  • Target Savings Account

    This account allows you to set a target and make deposits towards achieving that target.

    How does it work?

    • Access M-PESA menu.
    • Select Loans and Savings, KCB M-PESA
    • Select Target Savings.
    • Open Account
    • Open Account
    • Select source of funds;
      • M-PESA
      • KCB M-PESA
    • Enter amount (amount needs to be more than Kes 500)
    • Enter period (1, 3, 6 or 12 months)
    • Enter M-PESA PIN and confirm transaction
    • You will receive an M-PESA confirmation.

    Benefits

    • You top up continuously until you achieve your target.
    • You can deposit money into the target account through:
      • M-PESA
      • KCB M-PESA
      • Standing orders from KCB M-PESA
    • You can choose from target periods of 1, 3, 6 and 12 months with minimum contribution of Kshs.50.
    • You earn interest on cumulative interest.
    • Early withdrawal of funds from Target Savings is allowed subject to withdrawal of the entire amount saved. Total interest on savings will be earned to the day of the withdrawal.
    • You get cash back immediately to your KCB M-PESA account on prompting cash back.
    • Minimum target period is 1 month.
    • Enjoy attractive Interest rates of 6.65% p.a on your savings.

Frequently Asked Questions

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