KCB Bank, in keeping with its mantra ‘For People, For Better’, has revamped its mobile app to give Kenyans direct access to all of its services, including loan products.
With the revamped New KCB Mobile App, customers can now access the bank’s full suite of loan products at their fingertips. Built around everyday needs, the app allows customers to explore, apply for, and manage loans in just a few steps.
The app is a one-stop digital banking platform that allows users to open accounts, transfer money, pay bills, and track expenses all from the comfort of their phones. Designed for speed and security, it’s built to match every Kenyan.
You can apply for digital loans of up to Ksh1 million in just a few clicks. From covering emergencies to financing life goals like a car purchase, the app puts flexible credit options at the heart of everyday banking.
KCB Bank offers flexible loans with competitive interest rates. These include the KCB Flexi Loan, a mobile-based option where you can borrow up to Ksh1 million and repay within one day to one year, and the KCB Salary Advance Loan, a short-term loan for salaried account holders that can advance up to 100 per cent of your salary.
The bank also provides Secured Loans, which require collateral like the Personal Car Loan, as well as Unsecured Loans that don’t need collateral beyond your employer’s guarantee. An example of an unsecured loan is the Masomo Loan.
In this article, we’ll break down each loan, the requirements, and its benefits.
One of the easiest ways to access loans is through the Flexi Loan.
KCB MobileLoan: Requirements & Benefits
This is one of the loans that gives you control, making it one of the most flexible loan schemes on the market.
You can opt to borrow, say, Ksh5,000 on Monday, Ksh3,000 on Wednesday and Ksh2,000 on Saturday, and get all loans approved instantly as long as the total loans do not exceed your loan limit.
Flexi Loan awards loans between Ksh1,000 and Ksh1 million, depending on a customer’s loan limit.
That’s not all; with Flexi Loan, customers get to choose repayment periods, often ranging from 1 day to 12 months, with differentiated pricing. This means the smaller your repayment timeline, say 1-7days, the smaller your interest.
Requirements: To qualify, you must have operated a KCB Bank account for at least 6 months, have the KCB Mobile App and have a good credit score.
Benefits: Fast, flexible repayment, fully digital with interest as low as 1.2 per cent.
KCB Salary Advance: Benefits & Requirements
When times are tough and you cannot wait for the end of the month, KCB Bank comes to the rescue with the Salary Advance.
Benefits: Instant disbursement, minimal paperwork, short-term cash relief.
If you opt for this option, you can get a loan of up to Ksh500,000 straight to your phone in minutes. That is a cap of up to 1.5 times your salary, repayable within six months.
Requirements: The loan is available to salaried KCB Bank account holders who have had an active account for a minimum of three months.
Salary Advance is available to apply for on the KCB Mobile App with just a few steps and near-instant disbursement.
KCB Unsecured Loans: Types, Benefits & Requirements
One of the most popular financing options in Kenya, unsecured loans offer fast access to funds without requiring collateral.
KCB Bank relies on loans based on creditworthiness, which includes credit history, income, and financial stability. The bank has several options that include Salary Advance, Masomo, Personal Unsecured Check Off, and Personal Unsecured Non-check Off Loan.
This is a loan of up to Ksh4 million with no security and a 48-month repayment period.
It is accessible to salaried and self-employed individuals with an active KCB account for a minimum of three months.
What’s more, you can borrow from as little as Ksh20,000.
Benefits: Flexible repayment, no collateral required.
This is a long-term loan that does not require any security beyond a guarantee from your employer.
One of the loans is tailored for government workers and companies with agreements with the KCB Bank.
Customers can access loans of up to Ksh10 million, repayable over up to 10 years. Under this scheme, you can pay your loan in monthly instalments remitted by your employer.
Requirements: For this particular loan, you will need a national ID or passport, a KRA Pin, a duly filled application form, the latest three months' payslips and an original payslip.
Benefits: It is easy to access and offers convenient repayment.
When opportunities knock on the door, and you need a partner to back you in your studies, whether locally or abroad, then think no further than Masomo Loan.
Through this financial scheme, KCB Bank lends between Ksh100,000 and Ksh4 million, depending on your credit score. The loan covers tuition fees and related costs.
Furthermore, in order to give you time to focus on your studies and repay your loan comfortably, you get a repayment period of 24 months.
To qualify for this loan, one must have an active KCB account for a minimum of three months and be salaried or have a guardian.
Requirements: Valid ID or passport, latest original payslips or proof of income if self-employed and an admission letter from the university/college.
Benefits: Quick loan processing and repayment schedules tailored to suit easy payments.
KCB Secured Loans: Types, Benefits & Requirements
Secured loans are loans backed by collateral like a car, house or land. KCB Bank offers some of the best cost-secured loans in the market, including:
Here, KCB Bank awards loans based on the maximum value of your security. If, for instance, your car is valued at Ksh2.5 million, then that serves as the ceiling for your loan.
The facility is accessible to customers, both salaried and those who are self-employed and has repayment plans of up to 10 years.
Requirements: Valid ID or passport, KRA Pin, a duly filled application form and a security ownership document.
Benefits: Competitive rates, long repayment periods.
Under car loans, KCB Bank has a wide array of offers that include 100 per cent financing or partial financing, depending on the car and its use, among other factors.
However, the value of your security plays a crucial part in determining the loan amount.
For example, while purchasing a school bus, KCB Bank awards 100 per cent financing, with up to a 72-month repayment period.
The same goes for the Toyota Hiace, commonly used as a 14-seater matatu; customers get 100 per cent financing and a 36-month repayment plan.
In case customers settle on cars for personal use, like the VW Touareg, KCB Bank finances up to 95 per cent of the cost and offers a 60-month repayment period for flexible payments.
Requirements: This facility is available for both salaried and self-employed customers.
Benefits: Flexible payments and the maximum valuation of security.
The New KCB Mobile App is now available for download on the App Store and Google Play. Users can even open their account directly from the app, a process that takes just minutes.