KCB Bank Uganda, through its revamped online banking platform, has provided a mobile loan of up to UGX 5 million that can be accessed by parents as they prepare for school fees payment.
The KCB Mobi loan is a collateral free financial solution offered on the Bank’s mobile-based banking through the Unstructured Supplementary Service data (USSD) by dialing *244# and the KCBU Mobi App.
Announcing the innovative mobile loan and the newly revamped mobile banking platform, Charles Kevin Ssemambo the Acting Head of retail banking noted that, “KCB Bank is cognizant of the financial hardships that parents and guardians face in paying school fees every term. We have revised the KCB Mobile loan, which is affordable and convenient, and offers parents a timely solution in facilitating the education journey of their children who double as our future leaders and professionals.
To access the KCB Mobi loan, parents or guardians need to have an active KCB bank account with a minimum of 6 months of activity and have a financial card for amounts more than UGX 500,000.
“The KCB Mobi loan is paperless and quick to access with ability to transact anywhere at any time through the KCBU Mobi app or using the USSD code of *244# in the comfort of one’s home.” Ssemambo added.
KCB Bank mobile banking enables customers to seamlessly pay school fess directly to the school’s account through *244# or the KCBU Mobi App. Other benefits of the Bank’s mobile banking include, utility payments for water and electricity, airtime purchase across all networks, inbound and outbound international money transfers as well as ability to send money from the KCB Account to MTN/Airtel mobile wallet. Customers can also request for KCB loans, check loan limits, and view financial statements, among others.
“As enablers of the education sector in this country, it is up to us to ensure that we aid parents take their children on the first day of school to avoid having to deal with compensation for the time lost and many other administrative issues. Investing in human capital development ultimately spikes economic growth,” Charles Kevin Ssemambo concluded.