How do I qualify for KCB M-PESA loan?

How do I qualify for KCB M-PESA loan?

KCB M-PESA LOANS. In order to qualify for a KCB M-PESA Loan, you must be at least 18 years old, a registered and active M-PESA subscriber for at least six (6) months and an active KCB M-PESA Account holder. Upon opening your KCB M-PESA Account, you will receive a confirmation message bearing your credit limit.

Is KCB M-PESA giving loans?

KCB M-PESA is a loans and savings product exclusively offered by KCB Bank Kenya Ltd to Safaricom M-PESA customers. Money in and out of the KCB M-PESA Account is available through M-PESA.

How do I know if I have KCB M-PESA loan?

Access the KCB M-PESA menu • Select My Account • You can check your account balance or request for a Mini Statement. 5. How do I check my KCB M-PESA loan limit? Go to M-PESA menu • Select Loans and Savings • Select KCB M-PESA • Select Loan • Select Check Loan Limit.

How do I grow my KCB loan limit?

How do I grow my loan limit?

1. Increase activity on your KCB M-PESA Account by moving money in and out of your Account.
2. Increase savings on your KCB M-PESA Account.
3. Increase usage of M-PESA services.

How can I borrow money from KCB?

How to borrow a KCB M-PESA loan.

1. Go to M-PESA menu.
2. Select loans & savings.
3. Select KCB M-PESA.
4. Select loans.
5. Request loan.
6. Enter amount.
7. Enter M-PESA PIN & submit.

How do I get a loan from Vooma?

6. How do I borrow a Vooma loan? i) Using the KCB App • Open the KCB App, • Select ‘Loan’, • Select ‘Vooma loan’ & follow prompts ii) Using *522# • Dial *522# • Select ‘Loans and Saving’ • Select ‘Vooma loan’ • Select ‘Loan Request’ and follow prompts *Money will be deposited into your KCB Bank account.

What happens if you don’t pay your M shwari loan?

If you have not paid your loan within 30 days, what will happen? Your loan repayment period will be extended for an additional 30 days and you will be charged an additional 7.5% facilitation fee on your outstanding loan balance.

How can I get instant loan in Kenya?

Check out some of the places you can get quick loans in Kenya for that rainy day.

1. mKey. mKey is a digital banking service that was launched by Finserve Africa in September.
2. Branch.
3. KCB M-PESA.
4. M-Shwari.
5. MCo-op Cash loans.
6. Eazzy Loan.
7. OKash.
8. Haraka.

What is the interest rate for KCB mpesa loan?

8.64%
Earn interest of up to 6.3% p.a. on your saving balance. Save for a fixed period of time. Access loans instantly, credited to your M-PESA account from a minimum Kes 1000 and up to Kes 1million charged a facility fee of 8.64% being Loan fees of 7.35% and 1.29% Excise duty.

What kind of account is KCB M-Pesa?

The KCB M-PESA account is a virtual mobile based bank account that is offered exclusively to M-PESA registered customers allowing them to borrow small loans between Kshs.50 and Kshs.1M depending on the customer’s credit scoring. It is also used as a savings account at highly competitive rates.

What kind of loan can I get from KCB?

KCB M-PESA. The KCB M-PESA account is a virtual mobile based bank account that is offered exclusively to M-PESA registered customers allowing them to borrow small loans between Kshs.50 and Kshs.1M depending on the customer’s credit scoring. It is also used as a savings account at highly competitive rates.

How is KCB Bank used as savings account?

It is also used as a savings account at highly competitive rates. Safaricom and KCB Bank are the companies that are behind this venture that allows their customers to save and borrow money at their convenience by simply using their phones.

How to get vooma loan from KCB Bank?

You can access the new vooma loan of up to KES 300,000 from your phone directly to your KCB account at a low rate of 5.91% for 1 month. 6. Enroll, earn & redeem Simba Points Enroll for Simba Points by dialing *522#, transact on mobile banking, with your credit, debit or pre-paid card, on i-Bank to earn points.