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Home Foreign Loan Step-by-step Guide to KCB Mpesa Loan Application

Step-by-step Guide to KCB Mpesa Loan Application

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The KCB MPESA Loan product was created in partnership between Safaricom PLC and Kenya Commercial Bank.

Safaricom’s mobile-based account allows customers to get instant loans at low interest rates of 1.16% per monthly with a one-off negotiation charge of 2.5%.

Customers can free transfer money into and out of their accounts and also save money in the KCB MPESA accounts. You can earn up to 7% interest per annum by opening a Target Savings or Fixed Deposit Account.

KCB MPESA Account Benefits

These are the benefits of a KCB MPESA account

  • You can borrow money immediately, without needing to save.
  • The KCB MPESA Account is used to disburse loans
  • Flexible loan repayment terms are available for one month, three-months, or six months.
  • Savings interest is 2% per annum
  • Savings are the basis of personal accident insurance benefits
  • You can easily save and withdraw money through the MPESA menu or KCB Mobi Agent.
  • You can only save KES 1, with a maximum savings of KES 1,000,000
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These are the requirements to open an account:

  • National ID, Military ID and Kenyan Passport. Diplomatic ID (Registered by IPRS) or Alien ID.
  • Register as a Safaricom MPESA Customer
  • An active MPESA account.

How do I open a KCB MPESA account?

  • On your Safaricom phone, dial*844#.
  • Accept these Terms and Conditions.
  • KCB will send you an SMS containing your PIN.
  • To access your account, dial *844# once more and enter the PIN.

Types of KCB MPESA accounts

1. Fixed Savings Account

This account allows for you to lock in a set amount of cash over a specified period.


  • Once the amount has been saved, there is no need to top up.
  • The loan limits period is 1, 3, 6 and 12 months, with a minimum amount of KES50
  • Any interest earned is forfeited if the withdrawal is made too soon or too early.
  • Fixed deposit savings are also eligible for a life insurance benefit.
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2. Target Savings Account

You can set a savings goal or target with this account and deposit money towards that goal.


  • To achieve your goal, you will need to continue contributing.
  • You can access the account with standing orders from MPESA Account or KCB MPESA Account.
  • Variable interest rates that depend on loan repayment periods, such as one month (3%), three-months (4%), six-months (5%), twelve months (6%), and twelve months (5%).
  • Cumulative interest

How do I request a KCB MPESA loan?

To request a loan:

  • Enter your secret PIN by dialing *844#
  • Enter the amount you want to borrow by selecting “Loan” and “request loan”.
  • Choose the preferred loan repayment term (1, 3, or 6-months).
  • KCB MPESA will approve the transfer of funds to your KCB MPESA account.

How do I repay my KCB MPESA loan?

The KCB MPESA and MPESA accounts allow you to repay your loan in installments or in full. To repay your loan.

  • Enter your secret PIN by dialing *844#
  • Select the “Loan” menu and then the “Pay loan” menu option
  • You can choose to pay from the KCB MPESA or MPESA accounts.
  • Follow the prompts to complete your transaction.
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How to send money from MPESA into your KCB account:

The steps below will show you how to transfer money from MPESA into your KCB account.

  • Visit MPESA
  • Payment Services
  • Pay Bill
  • Enter 522522 for the Business Number
  • Enter Your KCB Acct Number.
  • Enter the amount you wish to transfer
  • Enter your MPESA pin
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