KCB M-PESA FAQs
- What is KCB MPESA Account?
- Who is eligible for a KCB M-PESA Account?
- What are the requirements to have a KCB M-PESA Account?
- How to register for a KCB M-PESA Account?
- How to deposit into KCB M-PESA Account?
- How to withdraw from the KCB M-PESA Account?
- How to qualify for a KCB M-PESA loan?
- How to request for a KCB M-PESA Loan?
- What are the KCB M-PESA loan interest rates?
- How to check your KCB M-PESA loan limit and what determines it?
- How to pay back KCB M-PESA loan?
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.
- 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?
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.