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KCB Offers Loans To Customers Through Mobile Phones

Kenya Commercial Bank (KCB) customers can now get loans using their mobile phones. The loans will be offered with a flexible repayment period ranging from one month to six months.

In addition the facility fee for the loan will start from as low as 2% per month. Customers will also have the option of two fixed savings options, a fixed deposit account and a target savings account.

The bank has seen its customer transactions with M-PESA triple to KShs. 125 billion, while the volume of transactions has grown from 10,000 a day to 100,000.

KCB customers can now enjoy credit facilities from as low as KShs. 50 to as high as KShs.1 million instantly on their mobile phones an innovation of branchless banking as our next frontier.

To access the service, customers will be required to dial *844#, accept the terms and conditions and proceed to save or borrow depending on their needs. The customer’s loan limit will be determined by a number of factors, including but not limited to, the amount of savings that the customer has, the customer’s usage of M-PESA, and their savings on other KCB platforms.

The KCB M-PESA Account has flexible repayment periods from one month to six months, levies affordable interest rates starting from 2% while offering access to instant loan facilities on request. The customer can also save, place standing orders or make fixed deposits on their phones.

About Enock Kiprono

Enock Kiprono is the founder of Fenesi.com & Dealpoa.com. He loves to connect with entrepreneurs that are success driven, passionate, action-taking whose goal is to make a difference in the business world!

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23 comments

  1. I have been approved to take fifty thousands but if I try to request am being told I have excided the amount and hv already cleared my loan early.

  2. hey my name lucy, i got an kcb mpesa app,and trying t request for loan, but the respond is i contact mpesa customer care,kindly help.

  3. George Amara Odongo

    I have been listed for having received a loan of 1006.4 under 0790280752 a number which is not in use. Is it possible to have the amount repaid using 0707972531?

  4. Good morning I deposited money into my KCB account on Friday 11th in order to pay for mobiloan which its period was to end on 12th. Message of payment confirmation came but I am still told to pay for the amount which I have already settled and now denied another loan. Kindly help!

  5. Am Desmond kimutai. I borrowed a mobiloan of 26000. After repayment I wanted to take another loan its declined that I have exceeded the loan limit.my loan limit to date still remains 26000 what could be the problem?

  6. Charles kamau Gichuki

    Hi I’ve been borrowing and repaying my loan on time but today having cleared my mobiloan of 100,000 and requested for another credit facility I received an SMS saying I’ve exhausted my credit limit, what does that mean ?

  7. I have repaid my loan on time but am unable to access another one

  8. Hi kcb am trying to register by the activation has been failing.plz help

  9. I cleared my KCB Mpesa loan in 2014 but still listed in CRB , kindly help.

    • Am elijah bore.My kcb mpesa loan limit started with ksh200 and now is ksh 9700.It depends on how active are in mpesa.Kcb bank actually is the best because it has several products lending money.there’s another product called MobiGrow.Its limit is the same as kcb mpesa.Thanks to KCB BANK.

  10. Iam masha kenga.I paid my kcbmobiloan 4days ago but when I request another one it comes SMS informing me that I have exceeded loan credit limit I don’t know why?

  11. as me is well well find am borrowing and pay in time and i have a big loan to borrow

  12. ihave apply for aloan of 1000 in one of your branch but up to now ihave not get any feed back

  13. josephat kisache

    i need some money money;

  14. I have also been borrowing and repaying on time but I notice the maximum loan I can get has kept reducing. What could be the reason? Otherwise, everything else is fine.

  15. hi kcb,am trying to opened kcb mpesa account but it cant opened.you only sent me a message that says my account will be prossesed shortly and its now one months.please help me to open it.

  16. hii am ken after saving like 1000 how long will it take to request for a loan?

  17. Hi, av been borrowing and paying on time. Why can my bowing increase for a bit bigger amount?

  18. Hi Kcb, i opened the mobile service but the problem is that, there is no option to transfer the money from m-pesa to kcb mobile banking.

  19. Solomon m mwalali

    Dear sir/madam,i do hope you’re fine!i too.well,iwish to inform you of my shock and dissapointment after opening an mpesa account with an intention of borrowing money through an indroduction by my pal on 31/7/2015.when i logged in to borrow the money i was informed that the amount i could get for the first time wa 50bob.surely what can you do today with a loan of 50/bob in kenya and mind you my account contain more than 10,000.Does it make sense to borrow such kind.Guys get sereous and be realistic.

    • I also registered with KCB MPESA and I was able to qualify for only Ksh. 1,500 after I registered with them. But from my understanding, they require people to build their credit record with them and as you borrow and repay on time however small the amount, then your credit record improves and the borrowing limits gets increased. Hope that helps!

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