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KCB M-PESA Account

KCB M-PESA is a savings account that enables you to access instant loans up to KSh 1M upon dialing *844#.

  • The KCB M-PESA Account features include:
  • Minimum saving of Kshs.1 and maximum saving of KSh 1M
  • Personal accident insurance benefit based on savings
  • Interest on savings of 2% p.a.

You may load your savings easily and conveniently via M-PESA, KCB Mobi, Mtaani agent and/or branch and withdraw your KCB M-PESA account savings only via M-PESA.

Loans

You can borrow instantly without saving with disbursement being to KCB M-PESA Account Loan Limits (Kshs.100 to KSh 500,000 with a top up option)

You can choose flexible repayment periods of 1 month, 3 months and 6 months via M-PESA, KCB M-PESA Account and Mobi/Branch/Mtaani with an option of Partial payments.

The interest on the loan include:

  • 30 day loan at 6% per month
  • 90 day loan at 5% per month
  • 180 day loan at 4% per month

The KCB M-PESA Account Fixed Deposit accounts

There are two types of fixed deposit accounts available to you as a KCB M-PESA Account holder. They include

  • Fixed Savings Account
  • Target Savings Account

Fixed Savings Account

This Account allows you to lock a specific amount of cash for a certain period of time.

How does it work?

  • You will not be able to top-up to the amount saved.
  • Locked periods include 1, 3, 6, and 12 months with minimum amount of KSh 500.
  • Upon early or premature redemption, you will forfeit all interest accrued.
  • You get cash back immediately to KCB M-PESA account on prompting cash back
  • You also get Life insurance benefit based on fixed deposit savings.

Target Savings Account

This account allows you to set a target and make deposits towards achieving that target.

How does it work?

  • You will top up continuously until you achieve your target.
  • The account is accessible with standing orders from M-PESA or KCB M-PESA Account
  • You can choose from target periods of 1, 3, 6 and 12 months with minimum contribution of KSh 50.
  • You will also earn interest on cumulative interest
  • You are allowed up to 4 withdrawals within target lock period to maintain interest.
  • You will get cash back immediately to your KCB M-PESA account on prompting cash back

FAQs

  • What is the KCB M-PESA Account Service?
  • What are the requirements to have a KCB M-PESA Account?
  • How does an existing M-PESA Customer Open a KCB M-PESA Account?
  • How can I deposit money into my KCB M-PESA Account?
  • How will I withdraw money from the KCB M-PESA Account?
  • What is the applicable interest rate on the savings account?
  • How will I qualify for a loan?
  • What are the applicable facility fees for a KCB M-PESA loan?
  • What is the minimum and maximum amount I can borrow?
  • How do I request for a KCB M-PESA loan?
  • How do you repay your KCB M-PESA loan via M-PESA or KCB M-PESA account?
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