KCB bank is the leading Commercial Bank in Kenya offering a wide variety of banking services and other services like insurance cover and lending of different kinds of loans. Apart from the above services,the bank also offers scholarships to students at secondary level and higher education level.
Today this article brings you good news on one of the mobile loans offered by KCB bank.A loan is a sum of money that one or more individuals or companies borrow from banks or other financial institutions so as to financially manage planned or unplanned events. In doing so, the borrower incurs a debt, which he has to pay back with interest within a given period of time.
Furthemore, a mobile loan is any loan applied on your mobile phone and do not require any application form or guarontors. Mobile Loans helps a lot especially in times of emergencies as its application is instant and can be acquired at anytime anywhere.
KCB bank is here to give you this mobile loan as MobiGrow loan. This is a loan which is specially meant to enhance financial inclusion and to improve the livelihoods of the small scale farmers, women and youth.
Moreover, this loan has come at the right time to put a smile on the faces of desperate Kenyans who lose their jobs due to Covid-19. Application of this loan is easy and does not need much documentations.
In addition, the bank offers you a loan between Kshs 1000 to Kshs 300,000 charging you a small interest rate of 4.08% monthly.
Below are the required documentations to acquire this loan
a)You must have an active MobiGrow account.
b) You must be a member of a farmer cooperative society, aggregating group and make deliveries to the participating cooperative society.
c) You must have been supplying milk to the diary for at least 6 months or any agricultural produce to an aggregator for at least 3 prior loan application.
d) You must have a good credit score and should not be listed on Credit Reference Bureau.
On submission of the above requisites, the bank will verify your application then they give you the loan when approved.
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