Read also: How To Retrieve Deleted M-Pesa Messages. Get the loan at a rate of 7.5% and with a one-month repayment period. This mobile loan is available to all Safaricom customers. We will show you how to go about it later in this guide. Your loan repayment period is increased further by 30 days. Kcb-Mpesa, Nairobi, Kenya. All applications are subject to NOW FINANCE’s lending and approval criteria. From a collaboration perspective, KCB MPESA is a flagship partnership that is redefining the mobile payments space in Kenya,” said Mr Oigara. “We have seen a sharp rise in loan requests on all our mobile loans following the decrease in interest rates, meaning the platform remains central in further deepening the financial inclusion agenda,” said Mr Oigara. An additional 7.5% facilitation fee is charged during that period. Standard Reporter | *Comparison rates are based on a loan of $30,000 over 5 years. NAIROBI, KENYA: KCB Bank has enhanced the capacity of its flagship mobile platform KCB MPESA, cut interest rates and resumed lending on the product, effectively boosting the lender’s financial technology agenda. The service is facilitated by KCB bank, but it is separately managed from the usual KCB accounts. It’s an instant loan with some of the lowest interest rates; just 1.16 percent per month . The Bank may refuse to make a payment if you do not have sufficient funds in your KCB M-PESA Account. Other fees including late payment fees and dishonour fees may apply. In deciding whether you have sufficient funds, the Bank will take account of any instructions to Interest rates range from 6.95% p.a. In today’s Mpesa guide, we will show you how to roll over your KCB Mpesa loan and extend your loan repayment period to about 60 days.. Was your KCB Mpesa loan declined due to late payment?. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. What’s more, you have the allowance to take out multiple loans if you are well within your limit This mobile loan is available to all Safaricom customers. The result is an increase in M-Shwari loan rates. Through their mobile phones, over 19 million active M-PESA customers in Kenya are able to access instant micro loans from as low as Ksh 50 to Sh1 million for a period of one month. However, In the event that you do not repay the loan in full within sixty (60) days from the date when the loan was first granted, you will be liable to pay a late repayment penalty fee of 10% of any outstanding principal, interest, negotiation fees and any other fees payable under the KCB M-PESA. Reopening: Do economic needs outweigh concern about catching virus? Also, You can do this without repaying your initial debt. Since the launch of KCB MPESA in March last year, KCB has extended financial services to over 7million customers, disbursing at least Sh12billion in loans. KCB MPESA has two other amazing products, as well as soft loans. You are not alone in this dilemma. *Comparison rates are based on a loan of $30,000 over 5 years. Other fees including late payment fees and dishonour fees may apply. The KCB M-PESA Loan is real’ handy when you need to be liquid. KCB Group CEO and MD Joshua Oigara said the adjustment on the product which was occasioned by a technical hitch which hit the platform last week affecting disbursement of loans, was meant to guarantee better services and enhance security.