KCB M-Pesa Personal Loan: Product Details & How to Apply

Rates available from as of 1st April 2021

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KCB M-Pesa

Easy Apply

Amount

Ksh1k - 1M

Duration

1 month

Interest Rate

Total Cost Including Institution's Other Fees

7.50% per loan

Typically approved within 24 hours

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Easy Apply

Loan Type

Unsecured Loans

Total Cost Breakdown (Loan Fees):

Interest Minimum: 7.50%
Interest Maximum: 7.50%
Processing fee: 0%
Insurance Fee: 0%
Withdrawal Fee: 0%
Late Fees: 8.75%, Rollover
Other Fees: None

Disbursement Details:

Institution Type: Commercial Bank
Application Method: Digital
Disbursement Method: KCB M-Pesa

Repayment Details:

Repayment Frequency: Bullet
Early Repayment: Allowed
Repayment Method: M-Pesa

Eligibility Requirement:

Smartphone: Not Required
CRB: Must be in good standing
Income: No Minimum
Employment: Not required
Network: M-Pesa customer
History: 6 Months Mpesa account
Documents: National ID
T&C Links

Representative Example of Loan Costs:

Example Loan Amount: ksh100,000
Representative Loan Cost: 7.50%
Total Loan Repayment Amount: ksh108,850

This product is provided by KCB Bank Kenya Limited. KCB Bank Kenya Limited is a Commercial Bank licensed under the Banking Act Cap 488 of the Laws of Kenya and regulated by the Central Bank of Kenya.

How to Apply

Money254 Review

Pros:

Fast approval times (less than 24 hours)
High loan limit (up to 1m KES)

Cons

Low starting loan limit
No discount for early repayment

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How to Apply for KCB M-PESA Loan, Repayment, Fees, Contacts

KCB M-PESA loan is a mobile loan service created through a partnership between the Kenya Commercial Bank (KCB) and Safaricom’s M-PESA.

The loans are accessible from the Safaricom SIM toolkit, the MySafaricom app, and the recently launched M-PESA app.

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KCB M-Pesa Personal Loan: Product Details & How to Apply

KCB M-Pesa

Loan Type

Total Cost Breakdown (Loan Fees):

Disbursement Details:

Repayment Details:

Eligibility Requirement:

Representative Example of Loan Costs:

Money254 Review

Pros:

Cons

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See more Personal Loans available in Kenya on Money254

How to Apply for KCB M-PESA Loan, Repayment, Fees, Contacts

Who Is Eligible For KCB M-PESA Loans?

KCB M-PESA Loan Limits and Interest Rates

How to Register For KCB M-PESA

How to Apply for Your First KCB - MPESA Loan

How to Make KCB M-PESA Loan Repayments

KCB M-PESA Fees and Penalties

Privacy and Permissions

KCB M-PESA Contacts

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