KCB Mpesa loan application (2020 Update)

The KCB Mpesa Loan product is a partnership between the Kenya Commercial Bank and Safaricom PLC. The mobile-based account enables Safaricom’s customers access instant loans at low-interest rates of 1.16% per month with a one-off negotiation fee of 2.5%.

The customers are able to transfer money in and out of their accounts for free and to also save their money into either one of the KCB Mpesa accounts. i.e Fixed Deposit Account or the Target Savings Account and earn interest of up to 7% p.a.

Read also on how to increase your loan limit

KCB Mpesa account benefits

The following are the benefits of the KCB Mpesa account:

  • Borrowing can be done immediately without saving.
  • Loan Disbursement is through the KCB Mpesa Account
  • You are able to choose a flexible loan repayment periods of 1 month, 3 months and 6 month
  • The interest on savings is at 2% p.a.
  • Personal accident insurance benefit based on savings
  • Savings and withdrawals are easily made through either Mpesa menu, KCB Mobi or KCB Mtaani Agent
  • The minimum amount one can save is Ksh 1 with a minimum of 1 million


To open an account, you will need to have a

  • National ID, Military ID, Kenyan Passport, Diplomatic ID (Registered on IPRS) or Alien ID.
  • Be a registered Safaricom Mpesa customer.
  • An active Mpesa account.

How to open a KCB Mpesa Account?

  1. On your Safaricom phone dial*844#.
  2. Accept the Terms and Conditions. See KCB Mpesa Terms and Conditions
  3. An SMS will be sent to you containing your PIN.
  4. Dial *844# again and enter the PIN to access your account.

Types of KCB Mpesa Accounts

Fixed Savings Account

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


  • No top up is required once the amount is saved.
  • Loan limits periods include 1, 3, 6, and 12 months with the minimum amount of Ksh 50
  • All interest accrued is forfeited upon early or premature withdrawal
  • You also get Life insurance benefit based on fixed deposit savings.

Target Savings Account

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


  • Requires continues contributions to achieve your target.
  • The account is accessible with standing orders from Mpesa or KCB Mpesa Account
  • Varying interest rates which depend on the loan repayment period i.e 1 month (3%), 3 months (4%), 6 months (5%) and 12 months (6%)
  • Cumulative interest

How do I request a KCB Mpesa Loan?

To request a loan,

  1. Dial  *844# and enter your secret PIN.
  2. Select “Loan” followed by “request loan” and enter the amount you wish to borrow.
  3. Select the preferred loan repayment period (1, 3, or 6 months).
  4. Upon approval, funds will be transferred to your KCB Mpesa Account.

KCB Mpesa Loan Repayment

The KCB loan can be either repaid in full or in installments through the KCB Mpesa or Mpesa accounts. To repay your loan

  • Dial *844# and enter your secret PIN.
  • Select the “Loan” menu followed by the “Pay loan.” menu option
  • Select payment from either KCB Mpesa account or Mpesa.
  • Enter Amount to pay and follow the system prompts to complete your transaction

How to Send Money from Mpesa to your KCB Account:

Go to Mpesa > Payment Services > Pay Bill > Enter 522522 as Business Number > Enter Your KCB Acc No > Enter the Amount to transfer > Enter Your Mpesa pin > OK


Raf'ael is an influencer on matters Kenya and digital. Living in Nairobi Kenya, he likes coffee when it is cold.

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