In today’s guide, we will teach you how to activate KCB Mpesa account, access Mpesa Soft Loan, check KCB Mpesa loan limit, Fixed, and Target Savings Accounts.
Kenya Commercial Bank partnered with Safaricom to bring you KCB Mpesa. KCB Mpesa is a mobile banking platform courtesy of KCB bank.
If you are searching on how to activate KCB Mpesa, be assured this article will be of great help to you. The first most important thing you need to understand is that you must be a Mpesa user to activate your KCB Mpesa.
Another important thing is that KCB is a mobile-based account and can only be accessed through Mpesa by Safaricom.
Read also: How KCB Mpesa Works.
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How To Activate KCB Mpesa On Phone
To be able to benefit from the KCB Mpesa program, you are required first to activate your Mpesa account. The activation is done through the mobile phone.
Here are the steps to follow when activating the KCB Mpesa account:
- Go to your mobile phone Sim toolkit.
- Click on Mpesa option.
- Select the Mpesa menu.
- Scroll and click on the loans and savings.
- Select the KCB Mpesa option.
- Now, click on Activate.
After following these steps, you shall receive a message detailing if you qualify for a loan or not.
Despite clicking activate KCB Mpesa, you need to deposit to your KCB account to activate it to qualify for a soft loan.
The more you make the KCB Mpesa deposit, the higher the chances of you qualifying for a loan.
When you have your KCB Mpesa account active, be assured you have a high chance of accessing a loan. Remember, you can qualify a loan minimum of Ksh.50 and a maximum of 1 million.
Recommended reading: Steps To Reverse M-Pesa Transaction And Get Your Money Back.
How To Activate KCB Mpesa Account Online
If you want to activate the KCB Mpesa account online, then you need to login to your HCB Mpesa account online.
After signing in to your account, go to Mpesa menu, then click on Loans and Savings. After that, click on the KCB Mpesa option and select Activate.
You have successfully activated your KCB Mpesa online.
Related article: How Does M-Pesa Agent Make Profit.
How to Access KCB Mpesa Soft Loan
Follow these steps to access KCB Mpesa Soft Loan
- Go to your Mobile phone Sim Toolkit.
- Select Mpesa option.
- Click on the Mpesa menu.
- Select loans and Savings.
- Click the KCB Mpesa menu.
- Choose Loan.
- Select Request the loan.
- Put in the amount of money that you wish to borrow.
- Enter your Mpesa PIN.
You will receive a message either detailing you have been given the loan or not.
If you have qualified for the amount you entered, the money will be sent to your KCB Mpesa account. There will be deductions on the interest; the negotiation fee and excise duty will have been made.
To withdraw the money first transfer to your Mpesa account, and then make a normal withdrawal transaction.
After you have borrowed the loan, make sure to pay on time to increase your loan credibility as well as increase your loan limit.
Check this out: Simple Steps To Update Your M-Pesa Menu.
How To Check KCB Mpesa Loan Limit
To check your KCB loan limit follow these steps;
- Go to your mobile phone Sim Toolkit.
- Select the Mpesa option.
- Click the Mpesa menu.
- Select Loans and Savings option.
- Click on KCB Mpesa.
- Select Loan.
- Click request Check Loan Limit.
In a few minutes, you will receive text detailing the amount of loan you can access.
After activating your KCB Mpesa account, you can as well as access two types of accounts the fixed account and the target account.
Read this also: How To Fuliza Mpesa And Get Instant Loan.
How To Use The KCB Fixed Savings Account
If you want to use the KCB Fixed Savings Account, then follow these steps:
- Go to your mobile phone Sim Toolkit.
- Select the Mpesa option.
- Click KCB Mpesa.
- Select Loans and Savings option.
- Choose Fixed Savings Account and click fixed deposit.
- Open the Account.
- Select where the funds will be deposited from either Mpesa or KCB Mpesa.
- Enter the amount you wish to save. Note the amount must be more than Ksh. 500.
- Enter the period you want the savings to be fixed. You can enter 1, 3, 6, or 12 months depending on your needs.
- Enter your Mpesa PIN.
- Counter check that you have entered the correct details and click okay.
Within a few minutes, you will receive Mpesa confirmation on the transaction.
A Fixed Savings Account holds several benefits like; earning interest at a rate of 6.3% per year.
Read also: How To Use M-Pesa In Kenya.
How to use The KCB Target Savings Account
The KCB Target Savings Account functions as a personal savings account. Mostly you have to set a target hence save towards achieving that goal.
The steps of accessing the Target savings account are equal to that of a Fixed Savings Account. The difference is that you will select Target Savings Account, not a Fixed savings account.
You are required to make a deposit, which is more than Ksh. 500.
You are allowed to make contributions from as low as Ksh. 50 until you reach your target. You are eligible to earn interest at rates of 6.3% per year.
