KCB Mpesa is a partnership between Kenya Commercial Bank (KCB) and Safaricom. It is a virtual mobile based bank account that allows customers to borrow micro loans between Ksh. 50 and Ksh. 1 M.
1. Registration
To activate it, just go to your Mpesa menu, loans and savings option and finally KCB Mpesa. In this case your Mpesa transcation history plus how much you have saved in your KCB Mpesa account will determine how big a loan you will get.
2. Eligibility
To be eligible one has to be at least 18 years old, have a registered and active Mpesa account for at least 6 months and an updated Mpesa menu.
3. Loans
The loan features include; loan amounts of Ksh. 50 to Ksh. 1M, repayment period of 1 month, 3 months and 6 months, the interest rates depend on repayment period: 6% (1 month), 5% (3 months), 4% (6 months).