Kenya Commercial Bank (KCB) has announced that they will be disowning their mobi loan facility to focus more on offering loans to through Vooma.
In a statement to their customers the bank announced that from next month the new Vooma loan will take effect and will be coming with a monthly interest of 5.9 percent monthly.
KCB has been issuing the mobi loans of between Kes 1,001 and Kes 300,000 instantly.
“Dear Customer, for a fast, flexible & reliable mobile borrowing experience, we shall discontinue KCB Mobiloan and introduce the NEW & IMPROVED VOOMA Loan effective 23/12/2020. The loan will be for a period of 1 month at a total cost of 5.91%. You will continue to access and pay for VOOMA Loan on *522# or the KCB app.” Read the statement
This just comes a month after KCB Group announced that it had set aside Ksh30 billion credit facility for individuals and businesses grappling with the effects of coronavirus pandemic, which were to be available through its mobile lending platform KCB M-Pesa.
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