Here’s a straightforward guide on borrowing a mobile loan from KCB Bank, one of Kenya’s fastest options for mobile loans.
KCB Mobile Loan Overview
- Loan Amount: Kshs 1,001 – 300,000.
- Interest Rate: 7.13% per month.
- Loan Duration: 1 month.
- Rewards: Earn Simba Points with every loan, redeemable for various rewards.
Requirements
- Active KCB Account:
- The account must be active for at least 6 months.
- A minimum of 4 deposits should have been made during this period.
- The account must be regularly operated and not overdrawn.
- KCB Mobile Banking:
- Sign up for KCB mobile banking through the app or USSD.
- KYC Compliance:
- A KCB representative may contact you for Know Your Customer (KYC) verification. (You will never be asked for your PIN or password).
How to Borrow a KCB Mobile Loan
1. Using USSD
- Dial
*522#
. - Select “Loans and Savings”.
- Choose “KCB Mobile Loans”.
- Select “Loan Request”.
- Choose 1-month loan option.
- Enter the amount you wish to borrow (within your loan limit).
- Select the KCB account for the loan deposit.
- Enter your KCB mobile banking PIN.
- Confirm and submit the transaction.
- The loan will be deposited into your KCB account immediately.
2. Using the KCB App
- Open the KCB App.
- Select “Loans”.
- Choose “Borrow” under the KCB Mobile Loan option.
- Select the KCB account for loan deposit.
- Choose the 1-month loan option.
- Enter the loan amount (must be within your loan limit).
- Enter your KCB mobile banking PIN.
- Submit and confirm.
- The loan will be deposited into your KCB account instantly.
Key Notes
- Ensure your account meets the eligibility criteria before applying.
- Always confirm your loan limit and interest rates before submitting a request.
- Avoid sharing your banking PIN or passwords with anyone.
