KCB M-PESA is a savings and loan service that enables M-PESA customers to save as little as KSh. 1, and access credit from KSh. 100 payable within a month. Save for a fixed period (Fixed Deposit Account) or save a little at a time for a set period (Target Savings Account) and earn interest. Earn interest of up to 6.3% p.a. on your saving balance.
Save for a fixed period (Fixed Deposit Account) or save a little at a time for a set period (Target Savings Account) and earn interest. Earn interest of up to 6.3% p.a. on your saving balance.
Access loans instantly, credited to your M-PESA account from a minimum of KSh 100 and up to KSh 1 million charged a facility fee of 8.93%.
No forms to fill out, no branches to visit. Just one click on your phone and you have a savings account with access to instant loans!
Transfer money in and out of the KCB M-PESA Account for free.
Eligibility
- The customer will need to hold a Kenyan National ID and be registered using the same on M-PESA.
- Customers registered using Passport numbers won’t be able to opt/activate KCB M-PESA. Such customers should visit the Safaricom shop with their original ID and passport so that the details of the ID are captured and amended from the passport details.
- A registered Safaricom M-PESA customer.
- Actively use other Safaricom services such as voice, data, and M-PESA.
Exemptions on Eligibility
- KCB M-PESA will not allow multiple registrations using the same document ID.
- Customers who are not more than 6 months old on M-PESA will be assigned a KCB M-PESA loan limit of zero.
What are the access channels?
Customers can access KCB M-PESA loans and saving services through the following channels.
- M-PESA App
- MySafaricom App
- Safaricom Sim Toolkit (STK)
- Dial USSD *334#
How to sign up?
Customers can activate their KCB M-PESA account by following the steps below:
M-PESA App
- Login to your M-PESA account
- Select Grow on the navigation bar (bottom of the screen)
- Select KCB M-PESA
- Select Activate
MySafaricom App
- Login to your MySafaricom App.
- Click on M-PESA on the navigation bar (bottom of the screen).
- Select Loans and savings.
- Enter your M-PESA PIN.
- Select KCB M-PESA.
- Click on Activate
Safaricom Sim Toolkit (STK)
- Access the M-PESA menu.
- Select Loans and Savings.
- Select KCB M-PESA.
- Select Activate.
USSD Dial *334#
- Dial *334#.
- Select Loans and Savings.
- Select KCB M-PESA.
- Select Activate.
You are now all set to save and borrow with KCB M-PESA.
What are the loan features?
- The KCB M-PESA loan account is a micro-credit product that gives you access to a loan; may it be for an emergency, or to fund a project or enterprise.
- Access loan limits from as low as KSh.100 and up to KSh. 1 million
- Enjoy a repayment period of one month.
- Loan repayment can be made via M-PESA, or from the KCB M-PESA account.
How to qualify for a loan
- Be an M-PESA subscriber for 6 months.
- Save on KCB M-PESA
- Actively use other Safaricom services such as voice, data, and M-PESA.
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 a fixed saving account work?
- Locked periods include 1 up to 12 months with a minimum amount of Kshs.500.
- Upon early or premature redemption, you will forfeit all interest accrued.
- You get cash back immediately to your 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 toward achieving that target.
How does a target saving account work?
- You top up continuously until you achieve your target.
- You can deposit money into the target account through M-PESA or KCB M-PESA
- You can choose from target periods of 1 up to 12 months with a minimum contribution of KSh 50.
- You earn interest on cumulative interest.
- Early withdrawal of funds from Target Savings is allowed subject to a withdrawal of the entire amount saved. Total interest on savings will be earned on the day of the withdrawal.
- You get cash back immediately to your KCB M-PESA account on prompting cash back.
- The 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
