5th Sep, 2016
When you see two of the biggest corporates in the region joining hands, your guess is as good as mine that the result will be huge. In our case, it was an explosion of creativity and alas! KCB Mpesa was born.
This innovation is indeed Kenya’s superman, if you have been living in a cave along Shanzu port for the past two years, don’t worry, we will fill you in.
You know that time of the month when everyone wonders how they will miraculously get to the office and back home or somehow have enough money to grab lunch?
Well KCB Mpesa was created to save you from such strenuous times. You don’t even have to scroll your phonebook to lecture that person who owes you 200 shillings or spend ages composing that humble message that might get you a little something to boost you for a few more days. KCB Mpesa will willingly sort you.
This virtual mobile based bank account will certainly not advertise your loaning prowess to your ‘closest’ friends as the interaction is similar to transacting mobile banking. Privacy is key. KCB Mpesa is the best friend you’ve been searching for, so you know your secrets are safe!
Say goodbye to the endless paperwork at the banking hall as everyone else quietly judges you with the famous Kenyan side eye. All it takes is your mobile phone, your pin and a seat as you prepare to get amazed at how far technology has brought us.
Remember the Swahili saying that warned us, “Kukopa ni harusi, kulipa matanga!” To mean, borrowing is equivalent to a wedding but repaying the money can be likened to a funeral. No need to overthink it, you can repay the loan in flexible installments that range between, 30 days, 90 days and 180 days!
Additionally, this amazing feature does not give you more than you can chew. KCB Mpesa’s aim is to assure you that you can comfortably take a loan that you will have no extra hassle repaying. This works through issuing a loan limit so you can plan accordingly.
While we’re still on the topic of added value, there are two types of savings account available on this platform – a fixed account and a target savings account.
The fixed account allows you to deposit money without withdrawing any amount until the set period has passed. These periods are similar to the loan applications ones: 1, 3, 6 and 12 months.
The least amount you can save however is 500 shillings but the interest amount accumulated remains. In case you need the money back before the time set, it will be readily transferred to your Mpesa account.
The target savings account basically assists you in saving money according to the target and period set. Interest is earned upon collective accumulation of the amount and the minimum contribution could be as low as 50 shillings. 50 bob!
KCB Mpesa should definitely be your preferred micro loans facility considering it is just a click away – On the KCB Mobile App that you already downloaded a few weeks back!
So take that loan, never fret, only you and KCB and I will know.
