How to apply for a KCB MPESA Loan (Offers and cost)

KCB M-PESA is an instant mobile loan that is quick and fast to access. Some of the requirements are that you need to be a registered and active Safaricom Customer.

KCB M-PESA gives offers at various times, for instance :

  1. Request a loan at 0% interest (if you manage to repay by midnight within the same day). offer date is from 17th December 2018 to 12th February 2019.
  2. Top-Up your loan whereby you get a loan multiple times on your loan limit. KCB M-PESA also offers a rollover whereby you can pay back your loan in 60 days and get your loan rolled over for ample payment period. To transact money from KCB MPESA wallet to Mpesa and back is free.

Costs: Interest on loans

1.08% per month with a one off negotiation fee of 2.5%.

The cost for the one month loan is 4.08% including excise duty applicable on fees.

Loan Application Steps:

  1. Go to Mpesa menu
  2. Select Loans and Savings option
  3. Select KCB M-PESA
  4. Select Loan
  5. Select Loan limit (If you want to check the maximum amount you are eligible to)
  6. Request Loan
  7. Enter Amount
  8. Enter Mpesa Pin
  9. The loan is sent to your KCB M-PESA wallet without interest or a taxation deduction. You will have to withdraw the money from KCB M-PESA to your M-PESA to access it.


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