KCB M-PESA
KCB M-PESA is a loan and saving product exclusively offered by KCB Bank
Kenya Ltd to Safaricom M-PESA customers.
How can I qualify for KCB M-PESA savings
KCB M-PESA savings is available to all M-PESA customers who have activated
the KCB M-PESA product.
KCB M-PESA is accessible on your M-PESA Menu, Go to Safaricom SIM Tool Kit
- Select M-PESA.
- Select Loans and Savings.
- Select KCB M-PESA.
- Select Fixed Savings account.
- Select Fixed Deposit or Target Savings Account and wait for a notification from
KCB M-PESA.
What are the features of KCB M-PESA savings
A) Fixed savings account
This account allows you to lock a specific amount of cash for a period of up to 12 months.
How does it work?
- Access M-PESA menu
- Select Loans and Savings, KCB M-PESA
- Select Fixed Savings Account
- Select Fixed deposit
- Open Account
- Select the source of funds;
- M-PESA
- KCB M-PESA
- Enter amount (minimum amount needs to be Kshs.500 and above)
- Enter period (1 – 12 months)
- Enter M-PESA PIN and confirm the transaction
- You will receive a confirmation message
Benefits
- Locked periods include 1 – 12 months with the minimum amount of
Kshs.500. - Upon early or premature redemption, you will forfeit all interest accrued.
- You get cash back immediately to KCB M-PESA account on prompting cash
back. - Earn attractive Interest rates of 6.3% p.a. on your savings.
B) Target savings account
This account allows you to set a target and make deposits towards achieving that
target.
How does it work?
- Go to M-PESA menu
- Select Loans and Savings
- Select KCB M-PESA
- Select Fixed Savings Account
- Select Target Savings Account
- Select Open Account
- Select a source of funds;
- M-PESA
- KCB M-PESA
- Enter Target amount you intend to save for the period (minimum amount
needs to be Kshs.1,000) - Enter period (1 – 12 months)
- Enter initial deposit amount (not less than Kshs.50)
- Enter M-PESA PIN and confirm transaction
- Â You will receive an M-PESA confirmation.
Benefits
- You top up continuously until you achieve your target.
- You can deposit money into the target account through M-PESA and KCBÂ M-PESA
- You can choose from target periods of 1 – 12 months with a minimum
contribution of Kshs.50. - You earn interest on the cumulative amount saved
- Early withdrawal of funds from Target Savings is allowed subject to
a withdrawal of the entire amount saved. Total interest on savings will be
earned to the day of the withdrawal. - You get cash back immediately to your KCB M-PESA account on prompting
cash back. - Enjoy attractive Interest rates of 6.3% p.a. on your savings.
How do I check my saved amount?
To track the progress of your savings
- Go to M-PESA Menu
- Select Loans and Savings
- Select KCB M-PESA
- Select My Account
- Select Check Balance
- Enter M-PESA PIN and submit
Can I save with KCB M-PESA if I am listed on Credit Reference Bureau
(CRB)?
Yes. If you are listed on CRB you can save with KCB M-PESA.
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