Tag Archives: KCB Mpesa loans

Cheap Mobile Loans

Quick and Cheap Mobile Loans: The KCB loans App download and how to get lending quickly

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The Kenya Commercial Bank, KCB, Mobile App for KCB and non-KCB customers is the one-stop place for all your banking and financial needs. Featuring a bold and modern visual design, it’s been carefully crafted to deliver a beautiful user experience. The loan App is available at Google play store.

The KCB Mobile App provides an easy and secure way to:

  • access your account, send money, withdraw cash…
  • access to loans allowing customers to borrow loans on the fly.
  • ability to add and track your credit cards, debit cards…
  • access charts and graphs to help you visualize your spending
  • track stocks, foreign exchange rates, properties…
  • access financial trends, success stories, expert tips…

How to get KCB loans

Get the KCB loans via your mobile phone by downloading the KCB App from Google play store. All you need to do is to search for the KCB App on Play store,download it and you are good to go.

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Banks and Money

KCB increases Mpesa loans’ interest rates by almost double figures

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Mobile loan subscribers were caught unawares after the Kenya Commercial Bank, KCB, increased interest charged on its mobile loan facility by almost double figures. The bank adjusted the interest rate upwards to 7.05% per month.

“Effective 02 – 08 – 2018, KCB MPesa loan interest rate has been reviewed to 7.05% per month from 4.08 per month,” said the bank on its official Twitter account. This response came after an outcry from customers. “Have you revised the interest on KCB MPESA LOANS?just got a message that my next loan will be charged at 7.5% from the previous 4.03%?,” wrote one Mr Ezeulu; in a request to KCB.

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The cost for the 1 month loan has been 4.08% with excise duty applicable on negotiation fees.

KCB now charges an interest rate on its mobile loans that is close to that payable on Mshwari loans; where a one-time fee of 7.5% is levied for each loan. While, Barclay’s Timiza effects an interest rate of 6.17. On their part, Safaricom’s Fuliza loans attract a facility fee of 1.083 percent of the value of the credit. An additional administrative fee of up to Sh30 is charged for each day that the loan remains unpaid. The overdraft facility has a term of 30 days beyond which a borrower is deemed to be in default.

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Quick, Convenient, fast, Cheap and unsecured Mobile loans in Kenya
Banks and Money

Treasury CS issues statement on KCB/ NBK banks merger; MPs vote against the merger.

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The Acting National Treasury Cabinet Secrerary Amb Ukur Yatani has issued a statement on the proposed merger of the Kenya Commercial Bank ( KCB) with the National Bank of Kenya (NBK).
According to Yatani, Since the Merger Process started,consultations have been ongoing with various stakeholders including Parliament. He says the Government is confident that these consultation will yield Positive results for both KCB and NBK in order to support the bigger Government Agenda of Strengthening the Financial sector in the Country.

Here is the presser by Amb. Ukur Yatani;

‘PRESS STATEMENT BY THE ACTING CABINET SECRETARY/NATIONAL
TREASURY & PLANNING ON THE STATUS OF THE KENYA COMMERCIAL
BANK (KCB)/NATIONAL BANK OF KENYA (NBK) MERGER TRANSACTION

Following the media reports on the proposed merger of KCB/NBK I wish to make the following clarifications:

1). The GOK (Government of Kenya) through the National Treasury and the NSSF are principal shareholders of KCB and National Bank. The proposed merger of the
two banks was intended to consolidate the Government interest.

2). The merger process started in May 2019 when KCB gave an intention to merge with NBK, through a process governed by Capital Markets Authority that is applicable to all listed public companies.

3). Both KCB and National Bank have already made public
pronouncement on the proposal to the merger and have engaged the shareholders of NBK to swap their shares with KCB shares.

4). GOK as a shareholder has been engaged in this process as any other
shareholder.

5). The Government in its strategic role, recognized the need for strong and stable banks in support of its fiscal responsibilities.

Since the merger process started, consultations have been ongoing with various stakeholders including Parliament. The Government is confident that these consultations will yield positive results for both KCB and National Bank in order to support the bigger government agenda of
strengthening the financial sector in Kenya.

Finally, I also wish to state that the Government of Kenya as the principle shareholder in Consolidated Bank of Kenya, will provide the necessary support to ensure that the Medium Term Note issued by the Bank is paid.

We are aware and support the request by Consolidated Bank for an extension of 3 months to pay the Note Holders.’

This statement comes even after the Parliament Committee on Finance and National Planning voted against the planned take over of NBK by KCB Group. According to the Legislators, KCB’s offer under values the State owned bank; NBK. KCB values the bank at KES 6 Billion.

KCB increases Mpesa loans’ interest rates by almost double figures