Chances are you have heard about the KCB Mobi loan. If the chance is so, you’ll find this quick guide useful, as I’ve highlighted about Kenya Commercial Bank Mobi loan registration, rates, and interest rates.
KCB Mobi loan is among the banking and finance products, and you can also find the products if you are a customer.
KCB Kenya loan is a quick way to apply for a loan but is only available to customers.
To qualify for a Kenya Commercial Bank loan the first step is to register an account at the nearest bank.
If you already have an account with the bank, then you can apply for a loan.
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How To Register Or Access KCB Mobi Loan
It is easy to apply for a KCB Mobi loan as there is no paperwork involved.
The loan application is made through the mobile phone.
Here are two ways to apply for a mobile loan.
Recommended reading: KCB M-Pesa Fixed Deposit Account.
How To Apply For Loan Using Shortcodes
The first option available to use and apply for a KCB Mobi loan is through a shortcode.
By dialing *522#, you’ll have ignited the loan application procedure.
Follow the prompts and will successfully get the loan application proved.
Related article: Stanbic Bank Kenya Online Banking Guide.
KCB Bank Mobile App
The second way to apply for a KCB Mobi loan is through the KCB application.
The app is available for free on the Google play store or Apple store.
After downloading and installing the app, you can check on the loan products and apply for a Mobile loan.
The process is simple to follow the prompts.
Kenya Commercial Bank Mobi loan rates
There are three types of Mobi loan categories.
These categories have different loan and terms of application;
KCB Kenya Mobi Loan
In this first category, you can apply for a loan ranging from Ksh100 to Ksh 100,000.
The loan is determined by how you use your Kenya Commercial Bank account.
KCB Salary Advance
If you are employed, you can apply for an advance under Kenya Commercial Bank Mobi loan products.
The amount you can apply for is calculated up to 1.5 times your salary.
The limit rages between Ksh300 and Ksh 100,000
KCB Mobi Loan Paybill Number
You can use Safaricom M-Pesa to make your Kenya Commercial Bank loan repayment. But before then, you will need a paybill number.
Follow the steps below to make repayment:
- To make your payment using M-Pesa, select Lipa Na Mpesa on your phone.
- After that select Paybill and then enter the KCB Mpesa Paybill number 522522.
- Under the account section, enter your details there.
- Provide your National Identity number.
- After that, enter the amount of money you would wish to deposit.
- Finally, enter your Mpesa PIN.
That is exactly how to make a Loan payment using the Mpesa paybill number.
Kopa Bills
If you have bills to pay and don’t have the money, you can apply for a loan and under Kopa bills.
The amount issued ranges between Ksh300 and Ksh100,000.
Read this also: Equity Bank Kenya Internet Banking Guide.
KCB Mobi Loan Interest Rate [2022 Update]
The amount of interest charged on a loan issued depends on the category of your loan.
The interest rate is 8% for the salary advance, and the Kopa Bill loan has an interest rate of 6%.
On the Kopa bills, the interest differs on the time scheduled to repay the loan.
The bank will determine the interest.
Here is the list of our KCB articles:
Fixed Deposit, Careers, Cub Account, Forex Exchange, Types of Accounts, Activate Mobile Banking, Mpesa Loan, Savings Account, Tuungane Chama Account, Apply for Credit Cards, KCB Opening Hours, KCB Mpesa Interest Rate, Diaspora Banking, Salary Advance, Paybill Number, Savings Interest Rate, Business Account, Prepaid Master Card, KCB Student Account.
