No Need To Repay Your KCB M-PESA Loan In Order To Borrow Again

No Need To Repay Your KCB M-PESA Loan In Order To Borrow Again

This is but one of the three new features introduced as KCB M-PESA relaunched today.

According to KCB CEO Joshua Oigara, since the launch of KCB-Mpesa in 2015, the KCB customer base has grown from 4 million customers to over 14 million customers. Through the product, the bank has disbursed over Kshs 7B monthly & onboarding over 1m customers every month.

No Need To Repay Your KCB M-PESA Loan In Order To Borrow Againโ€œThe growing demand for & uptake of mobile services such as mobile money, mobile applications & overall mobile banking has contributed to a noteworthy surge in the number of mobile services subscription consequently deepening financial inclusion, “Joshua Oigara said at the event.

The new platform also offers increased speeds which means customers will have an easier time getting the well-priced loans, which are offered with a 4.08% interest.

Under the enhanced proposition customers can also open a target savings account and top up the same day. There will be full loan disbursement of the exact amount borrowed. For example when a user borrows a loan of 100/=, they will get the full 100/= disbursed with interest bundled on top.

The new features include:

1. Rollover

KCB M-PESA customers will now be able to automatically rollover the loan by another month effectively widening the room by which a customer is able to pay back their loan

2. Top-up loans

You can now top up your existing loan up to your loan limit effectively widening the room by which a customer is able to pay back their loans.

โ€œWe will also henceforth be offering top-up loans. This new capability will allow customers to borrow multiple times in the same month without being required to clear their outstanding balance up to their assigned limit,” said Oigara.

3. 0% interest in loans

This December, KCB M-PESA customers can start celebrating Christmas early with by the 0% interest loan promotion that will run from today, the 18th of December to the 17th of January next year. The promotion is targeting customers who are in need of credit for their daily business or personal needs & will run for a month from today. Customers will pay 0% interest when they borrow and repay on the same day from 18th Dec 2018ย  to 17th Jan 2019.

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