The KCB M-PESA Loan is one of the most popular mobile banking products in Kenya, widely used by customers to handle emergencies and meet day-to-day financial needs.
Offered exclusively by KCB Bank Kenya Ltd to Safaricom M-Pesa customers, the loan allows you to borrow instantly and repay within 30 days.
The loan attracts a one-month interest rate of 8.9%, which is charged upfront.
Requirements One Must Meet to be Eligible for KCB M-PESA Loan
To qualify for a KCB M-PESA loan, you must be an active Safaricom M-Pesa user and at least 18 years old.
You also need to have an active KCB M-PESA account, which can be opened directly through the M-Pesa menu or by dialing *844# or *334#.
Beyond this, your eligibility is determined by how actively you use M-PESA services such as deposits, withdrawals, and payments—as well as your savings behavior in your KCB M-PESA account.
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A positive credit history, including prompt repayment of any previous loans, also increases your chances of qualifying.
The following are the crucial requirements you must meet to increase your loan limit:
- Frequently transact using their KCB M-PESA account by depositing and withdrawing money, and build consistent savings in the account.
- Increase overall use of M-Pesa services.
- Repay any loans promptly and avoid defaults, as late payments will lower one’s limit or even block you from accessing loans in the future.
How to Check if You Qualify for The Loan
Using Safaricom SIM Toolkit (STK menu):
- Go to your SIM Toolkit.
- Select M-PESA.
- Choose Loans and Savings.
- Select KCB M-PESA.
- Choose Loan.
- Select Request Loan – if you qualify, your available loan limit will be displayed.
Borrowing a loan follows the same steps: select “Request Loan,” enter the amount you want, and input your M-Pesa PIN.
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The approved loan will be deposited into your KCB M-Pesa account, but note that the facility fee, negotiation fee, and excise duty are deducted upfront.
To use the money, simply withdraw it from your KCB M-Pesa account to your regular M-Pesa wallet.
Circumstances That May Lead to Loan Denial
- Poor credit history.
- Having an existing unpaid KCB M-PESA loan.
- Late repayment of previous loans, which may result in being blacklisted.
KCB M-Pesa loans are flexible, with limits starting from as little as KES 50 and going up to KES 1 million, depending on your profile and transaction history.
All loans come with a repayment period of 30 days, and repayment can be made either from your M-Pesa wallet or directly from your KCB M-Pesa account. Once you activate your account, you will be given a loan limit that you can borrow against instantly.
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