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KCB Mpesa account loans starting from 24%pa
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Gordon Gekko
#31 Posted : Friday, March 13, 2015 5:50:29 PM
Rank: Elder

Joined: 5/27/2008
Posts: 3,760
Othelo wrote:
Wakora muno muno muno.... Interest is charged upfront and loan amount sits with KCB until you transfer to mpesa. Very clever!!!

I've confirmed that KCB charge ksh 5/- for their USSD (*522#) while I&M charge ksh 2/- for theirs (*458#). These are the hidden costs that mama mboga never realizes, only wondering as she limas her shamba that 'hawa watu wa safaricom wanakula pesa yangu na hata sija hora thimu' If you assume only a quarter of their customer base use USSD twice a month, that's serious non-interest income, uncouth if you asked me.
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washiku
#32 Posted : Saturday, March 14, 2015 1:28:21 AM
Rank: Chief

Joined: 5/9/2007
Posts: 13,095
Gordon Gekko wrote:
Othelo wrote:
Wakora muno muno muno.... Interest is charged upfront and loan amount sits with KCB until you transfer to mpesa. Very clever!!!

I've confirmed that KCB charge ksh 5/- for their USSD (*522#) while I&M charge ksh 2/- for theirs (*458#). These are the hidden costs that mama mboga never realizes, only wondering as she limas her shamba that 'hawa watu wa safaricom wanakula pesa yangu na hata sija hora thimu' If you assume only a quarter of their customer base use USSD twice a month, that's serious non-interest income, uncouth if you asked me.



@Gordon, USSD charges are not imposed by the bank but by network provider. The last time I checked, Safcom had fixed bank codes at 5bob and other services' codes eg Music, at 10bob. By the way, for USSD, Safcom keeps all the loot, unlike Premium SMSes where they do a revenue share. I doubt your 2bob for *458#, unless you used Airtel line which in some circumstances you can negotiate for lower rates.
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bird_man
#33 Posted : Saturday, March 14, 2015 9:56:32 AM
Rank: Veteran

Joined: 11/2/2006
Posts: 1,206
Location: Nairobi
Took a test loan from KCB Mpesa,got the money in 5mins or so....but when I paid it took 2days for the loan balance to be cleared!Very poorly implemented and confusing.
Formally employed people often live their employers' dream & forget about their own.
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wazuaguest
#34 Posted : Tuesday, March 24, 2015 1:32:45 PM
Rank: Member

Joined: 2/9/2012
Posts: 576
Othelo wrote:
[quote=mugandaHappy family thus far...


Aish Makoma has aged like that over the years d'oh! .... anyway been about 20 years since we worked together [/quote]
just seen a tweet from KCB and they are referring Makome as the MD Kenya.So that means after the restructuring Joshua became the group CEO with several MDs reporting to him.Meanwhile Daktari has refused to do the same
Africa belongs to Africans.
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maka
#35 Posted : Wednesday, March 25, 2015 6:31:35 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
bird_man wrote:
Took a test loan from KCB Mpesa,got the money in 5mins or so....but when I paid it took 2days for the loan balance to be cleared!Very poorly implemented and confusing.


It's bogus they brought something that wasn't ready to the market...scom staff are complaining big time...
possunt quia posse videntur
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maka
#36 Posted : Wednesday, March 25, 2015 6:35:25 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
hindi ni riu wrote:
Swenani wrote:
Impunity wrote:
mlennyma wrote:
growing wrote:
Impunity wrote:
Waaah!!!!!!!!!!!!!?

You can borrow from Kes. 50 up to Kes. 1,000,000 and pay within a month to 6 months.
Interest rate starts from as low as 2% (contrast to Msuruari 7.5% one off?)

Applause Applause Applause Applause Applause

Rink

2% per month, that's equivalent to 24% per annum

safcom is leading banks to be real shylocks,2% is 24% p.a very expensive to the educated but very cheap to the lay man


Consider the hussles you undergo in a normal process to prochiwa say a mere loan of Kes. 500,000?
With this arrangement however you get this done on the comfort of your sofa set while watching cartoons and sipping bone soup.

TIME VALUE OF MONEY!


Do you even know the meaning of time value of money?


Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly


Laughing out loudly Laughing out loudly
possunt quia posse videntur
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jerry
#37 Posted : Wednesday, March 25, 2015 9:15:07 PM
Rank: Elder

Joined: 9/29/2006
Posts: 2,570
bird_man wrote:
Took a test loan from KCB Mpesa,got the money in 5mins or so....but when I paid it took 2days for the loan balance to be cleared!Very poorly implemented and confusing.

What was the interest rate like?
The opposite of courage is not cowardice, it's conformity.
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watesh
#38 Posted : Thursday, March 26, 2015 12:12:04 AM
Rank: Veteran

Joined: 8/10/2014
Posts: 992
Location: Kenya
I still prefer mshwari coz its faster to store excess mpesa cash and to remove. KCB Mpesa needs to get space on the menu
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bird_man
#39 Posted : Thursday, March 26, 2015 8:42:19 AM
Rank: Veteran

Joined: 11/2/2006
Posts: 1,206
Location: Nairobi
jerry wrote:
bird_man wrote:
Took a test loan from KCB Mpesa,got the money in 5mins or so....but when I paid it took 2days for the loan balance to be cleared!Very poorly implemented and confusing.

What was the interest rate like?

It was just 100sh for test purposes.Interest was 4% for 1month.
Formally employed people often live their employers' dream & forget about their own.
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jerry
#40 Posted : Thursday, March 26, 2015 11:14:22 AM
Rank: Elder

Joined: 9/29/2006
Posts: 2,570
bird_man wrote:
jerry wrote:
bird_man wrote:
Took a test loan from KCB Mpesa,got the money in 5mins or so....but when I paid it took 2days for the loan balance to be cleared!Very poorly implemented and confusing.

What was the interest rate like?

It was just 100sh for test purposes.Interest was 4% for 1month.

Sounds good if teething problems are addressed.
The opposite of courage is not cowardice, it's conformity.
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