How to sign up

 UPDATED FEATURES

  1. Faster processing speeds of transactions
  2. Full loan disbursements upon approval (i.e. Interest recovered at repayment not at point of disbursement).
  3. Flexibility to borrow and repay same day
  4. Accessibility to new loans immediately upon full repayment of the previous loan
  5. Ability to save on daily basis and enjoy high limits on borrowing (saving contributes to growth of your loan limits)
  6. Attractive interest rates on Fixed and Target Savings applied on a daily basis.

 

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 6.3% 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 6.3% p.a on your savings.

Frequently Asked Questions


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