All You Need to Know about the KCB M-PESA Loan

The KCB MPESA loan is a convenient and accessible financing option provided by KCB Bank specifically for Safaricom MPESA customers. It offers a swift and straightforward solution for addressing unforeseen financial needs or seizing immediate opportunities.

Eligibility and Requirements

To qualify for the KCB MPESA loan, you simply need to be a registered and active Safaricom MPESA user. There are no difficult application procedures or extensive documentation required.

Checking Your Loan Limit

To check your KCB MPESA loan limit, follow these straightforward steps:

1. Navigate to the M-PESA menu.
2. Select “Loans and Savings.”
3. Choose “KCB M-PESA.”
4. Access the “Loan” section.
5. Check your available loan limit.

Fees and Charges

The fee for a one-month KCB MPESA loan is 7.35% of the loan amount, covering the entire loan term.

How to Apply for the KCB M-PESA Loan

Here’s how you can apply for the KCB MPESA loan:

1. Open your M-PESA menu.
2. Select “Loans and Savings.”
3. Choose “KCB M-PESA.”
4. Navigate to “Request Loan.”
5. Enter your desired loan amount and follow the prompts on-screen to complete your application.
6. Upon quick evaluation, the loan will be disbursed directly to your KCB MPESA account.

Repaying Your Loan

To repay your KCB MPESA loan, you can use two repayment options:

1. Using Safaricom Toolkit:
   • Go to the M-PESA menu.
   • Select “Loans and Savings.”
   • Choose “KCB M-PESA.”
   • Access “Pay Loan.”
   • Select your preferred payment source (M-PESA or KCB M-PESA Account).
   • Enter the repayment amount and follow the prompts to complete the payment.
2. Using M-PESA Paybill:
   • Open your M-PESA menu.
   • Select “Lipa na M-PESA.”
   • Choose “Paybill” and enter the business number “522559.”
   • In the “Account no.” section, enter your borrower ID number (e.g., 12345678).
   • Enter the repayment amount and follow the prompts on-screen to complete the payment.

Read Also : A Guide to the KCB Salary Advance

KCB M-PESA Loan Access Issues

There are several reasons why you might encounter difficulty accessing the KCB MPESA loan:

1. Unfavorable credit history.
2. Existing outstanding KCB MPESA loan.
3. Temporary blacklisting due to late repayment.

Growing Your Loan Limit

KCB Bank rewards responsible borrowers. Here are strategies to increase your KCB MPESA loan limit:

1. Maintain an active KCB M-PESA account.
2. Save with KCB M-PESA.
3. Regularly use M-PESA services responsibly.
4. Ensure prompt repayment of loans