KCB M-PESA Loan Calculator

how much is the interest will you have to pay for KCB M-PESA Loan
Last Update: November 24th, 2019
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KCB M-PESA FAQs

Q. What is KCB MPESA Account?

The KCB M-PESA account is a paperless mobile based bank account that will be offered exclusively to M-PESA registered customers. KCB M-PESA Account will have zero minimum balance and will provide customers with the ability to:

  • Save from as little as KShs.1 and earn interest of 2% p.a.
  • Borrow loans with a facility fee ranging from 7.5% per month
  • Save for a fixed period of time (Fixed Deposit Account) or Target Savings Account where you save little by little for a set period.
Place standing orders from:
  • M-PESA to KCB M-PESA Account.
  • M-PESA to Fixed Savings or Target Savings Account.
  • KCB M-PESA to Fixed or Target Deposit Account.
  • Transfer money in and out of the KCB-M-PESA Account at no charge

Q. Who is eligible for a KCB M-PESA Account?

The KCB M-PESA Account is intended for all KCB and Safaricom customers who discern to save or borrow short-term loans, to enable them address various financial causes.

Q. What are the requirements to have a KCB M-PESA Account?

To get a KCB M-PESA Account, you will need to:

  • Be a registered Safaricom M-PESA customer.
  • Have an active Safaricom M-PESA account.
  • Hold any one of the following Kenyan National ID, Kenyan Passport, Alien ID, Diplomatic ID(Registered on IPRS), Military ID.

Q. How to register for a KCB M-PESA Account?

  • Dial *844#
  • Accept Terms and Conditions.
  • You will receive an SMS with your PIN
  • Dial *844# to access the KCB M-PESA Account Menu and the system will prompt you to change PIN
  • Q. How to deposit into KCB M-PESA Account?

    • Dial *844# and enter the KCB M-PESA Account PIN
    • Select Deposit From M-PESA
    • Enter Amount
    • Confirm transaction.

    Q. How to withdraw from the KCB M-PESA Account?

    Customers can only make withdrawals from KCB M-PESA Account via M-PESA using the steps:

    • Dial the USSD CODE *844# and Enter the KCB M-PESA Account PIN
    • Select "Withdraw" to M-PESA
    • Enter Amount
    • Confirm payment.
    • Other KCB M-PESA Account
    • Enter Mobile number
    • Enter Amount
    • Confirm payment

    Q. How to qualify for a KCB M-PESA loan?

    Customers will be allocated a loan limit upon opting into the KCB M-PESA Account. Not all customers will qualify for loans immediately.

    Q. How to request for a KCB M-PESA Loan?

    • Dial *844# and enter the KCB M-PESA PIN
    • Select "Loan" then Request Loan and enter amount.
    • Funds will be transferred to your KCB M-PESA Account.

    Q. What are the KCB M-PESA loan interest rates?

    • Effective August 02, 2019 KCB M-PESA loan interest rate is 7.05% per month

    Q. How to check your KCB M-PESA loan limit and what determines it?

    Immediately on dialing *844#, one is presented with a loan limit. The loan limit is determined by one's activity levels generated from their history usage on both their M-PESA/ Safaricom and KCB M-PESA Account.

    Q. How to pay back KCB M-PESA loan?

    Loan can be paid in full or in installments from both KCB M-PESA account and M-PESA.

    • Dial USSD code *844# and enter KCB M-PESA PIN.
    • Select Loan then Pay loan.
    • Select payment from either KCB M-PESA account or M-PESA.
    • Enter Amount to pay.