KCB M-PESA Account

KCB M-PESA is a savings and loan service that enables M-PESA customers to;

• Save as little as Kshs. 1, and access credit from Kshs. 1000.
• 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

No forms to fill, no branches to visit. Just one click on your phone and you have a savings account with access to instant loans!

How to sign up

• Access through the M-PESA menu > Select Loans and Savings > Select KCB M-PESA and Activate.

What are the loan features?

The KCB M-PESA loan account is a micro-credit product which gives you access to a loan; may it be for an emergency, to fund a project or enterprise.

1. Access loan limits from as low as Ksh.1000 and up to Ksh.1million
2. Enjoy repayment period of one month
3. Loan repayment can be made via M-PESA, or from the KCB M-PESA account

How to qualify for a loan

1. Be an M-PESA subscriber for 6 months
2. Save on KCB M-PESA
3. Actively use other Safaricom services such as voice, data and M-PESA.

How does it work?

• Access the M-PESA menu.
• Select Loans and Savings.
• Select KCB M-PESA.
• Select Loan.
• Request Loan.
• Enter amount.
• Enter your M-PESA PIN
• Loan amount will be sent to your KCB M-PESA Account. To access the loan, withdraw the money to your M-PESA for FREE.
• The loan amount to be paid will be in inclusive of the facility fee.

What about savings?

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

• Fixed Savings Account
• Target Savings Account

Fixed Savings Account

This account allows you to lock a specific amount of cash for a period of up to 12 months.

How does it work?

• Access M-PESA menu
• Select Loans and Savings
• Select KCB M-PESA
• Select Fixed Savings Account
• Select Fixed deposit
• Open Account
• Select the source of funds;
• M-PESA
• KCB M-PESA
• Enter amount (amount needs to be more than KES 500)
• Enter period (1 up to 12 months)
• Enter M-PESA PIN and confirm the transaction
• You will receive an M-PESA confirmation.

What are the benefits?

• Locked periods include 1 up to 12 months with the minimum amount of Kshs.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.
• Earn attractive Interest rates of 6.3% p.a. on your savings.

Target Savings Account

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

How does it work?

• Go to M-PESA menu
• Select Loans and Savings
• Select KCB M-PESA
• Select Fixed Savings
• Select Target Savings Account
• Select Open Account
• Select source of funds;
• M-PESA
• KCB M-PESA
• Enter Target amount you intend to save for the period (amount needs to be more than KES 1000)
• Enter period (1 up to 12 months)
• Enter initial deposit amount (not less than KES 50)
• Enter M-PESA PIN and confirm transaction
• You will receive an M-PESA confirmation.

What are the benefits?

• You top up continuously until you achieve your target.
• You can deposit money into the target account through:
• M-PESA
• KCB M-PESA
• You can choose from target periods of 1 up to 12 months with a minimum contribution of KES 50.
• You earn interest on cumulative interest.
• Early withdrawal of funds from Target Savings is allowed subject to withdrawal of the entire amount saved. Total interest on savings will be earned to the day of the withdrawal.
• You get cash back immediately to your KCB M-PESA account on prompting cash back.
• Minimum target period is 1 month.
• Enjoy attractive Interest rates of 6.3% p.a. on your savings.

Frequently Asked Questions

KCB M-PESA Account Terms and Conditions