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Need to save? Weka-weka na KCB M-PESA. Grow your money easily on your phone, start saving to enjoy interest rates of over 6% p.a.* It’s fast and easy, plus, the more you save, the more you can borrow.  To open a savings account with KCB M-PESA, you need to activate your KCB M-PESA.

Savings accounts available on KCB M-PESA are Target savings and Fixed savings accounts.

 

Target Savings Account

A Fixed Savings Account allows you to lock a specific amount of money for a period of 1 up to 12 months. To open this account, you need to deposit a minimum of Kes. 500. Upon early or premature redemption, you will forfeit all interest acquired. Your savings earn a 6.3% p.a. for the period locked.

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  • How it works
    • Access M-PESA menu
    • Select Loans and Savings
    • Select KCB M-PESA
    • Select Fixed Savings Account
    • Select Fixed Deposit
    • Select Open Account
    • Select the source of funds:
    • M-PESA or KCB M-PESA
    • Enter amount (amount needs to be more than KES 500)
    • Enter period (1 up to 12 months)
    • Enter M-PESA PIN and confirm the transaction
    • You will receive an M-PESA confirmation.
  • Benefits
    • You earn attractive Interest at a rate of 6.3% p.a. on your savings that accumulates on a daily basis.
    • You can deposit money into the fixed savings account from M-PESA or KCB M-PESA.
    • You can withdraw your savings before expiry of the set period. This is however allowed subject to withdrawal of the entire amount locked. Upon early or premature redemption, you will forfeit all interest accrued.
    • Upon withdrawal of money from a fixed savings account, the money is immediately deposited to your KCB M-PESA account.
    •  It is free to send and withdraw money to M-PESA from KCB M-PESA. 

Fixed Savings Account

A Fixed Savings Account allows you to lock a specific amount of money for a period of 1 up to 12 months. To open this account, you need to deposit a minimum of Kes. 500. Upon early or premature redemption, you will forfeit all interest acquired. Your savings earn a 6.3% p.a. for the period locked.

Watch Video
  • How it works
    • Access M-PESA menu
    • Select Loans and Savings
    • Select KCB M-PESA
    • Select Fixed Savings Account
    • Select Fixed Deposit
    • Select Open Account
    • Select the source of funds: M-PESA or KCB M-PESA
    • Enter amount (amount needs to be more than KES 500)
    • Enter period (1 up to 12 months)
    • Enter M-PESA PIN and confirm the transaction
    • You will receive an M-PESA confirmation.
  • Benefits
    • You earn attractive Interest at a rate of 6.3% p.a. on your savings that accumulates on a daily basis.
    • You can deposit money into the fixed savings account from M-PESA or KCB M-PESA.
    • You can withdraw your savings before expiry of the set period. This is however allowed subject to withdrawal of the entire amount locked. Upon early or premature redemption, you will forfeit all interest accrued.
    • Upon withdrawal of money from a fixed savings account, the money is immediately deposited to your KCB M-PESA account.
    •  It is free to send and withdraw money to M-PESA from KCB M-PESA.