NCBA Bank that was created as a result of a merger between CBA bank and NIC banks is one of the pioneers in mobile banking technology. They bank is one of the largest and most profitable in Kenya.
They have a mobile banking app called NCBA Loop which is basically a digital wallet. You can hold money in your NCBA Loop account different from your ordinary NCBA bank account.
The NCBA Loop account has a different paybill number for making deposits to the account. NCBA bank Loop paybill number is 714777.
Note that NCBA Bank ordinary account paybill number is different.
How Do You Get NCBA Loop App?
The app is available in the Google apps store and for one to use it, you must have an active NCBA ban account.
On the Google play store in your phone, search for the NCBA Loop app and install it.
Open the app and follow the registration procedures set out.
What Services are Available Through The NCBA Loop App?
There are several services that can be accessed through the NCBA Loop app such as;
- Payment of bills
- Borrow loans
- Buy airtime
- Balance enquiring
- Mini statement enquiry
- Transfer funds to other accounts
- Transfer funds to your mobile money
- Debit & Credit card balance
- Requesting bank statements
- Get ATMs locations
- Get forex rates
- How To Deposit money To NCBA loop
- To deposit to your NCBA loop wallet via MPESA use Paybill number:714777
How To Deposit Money To NCBA bank Loop Account From M-pesa
You will use the the loop account number and the NCBA bank Loop pay bill number 714777 and follow these instructions;
- Open MPESA menu
- Go to Lipa na MPESA
- Select Paybill
- Enter NCBA Loop Paybill number 714777 as the business number
- Enter your loop account number as the account number
- Enter the amount you want to deposit
- Enter your M-pesa pin and send.
- A confirmation message will be sent to you from M-pesa and from NCBA Loop.
How Much Loan Can You Get From NCBA Loop?
From NCBA Bank Loop app, you can get loans of up to Kes.3 million with a repayment period of up to 3 years through Loop without paperwork.
All you have to do to qualify for higher loans is make Loop your primary account for all your monthly transactions including your income. Your transactions history activity on Loop will contribute towards a higher limit.
Loop Overdraft facilities allows you to overdraw your Loop account up to Kes.100, 000.
NCBA Loop loans have the following charges;
- An interest rate that will comprise of CBRR interest rate, your risk premium rate and period risk premium
- Facility fee- A 2% one off fee calculated as a percentage of principal loan amount requested will be charged and collected before disbursement.
- Excise Duty A 10% one off fee calculated as a percentage of the facility fee amount requested will be charged and collected before disbursement.
- Insurance Premium 0.7% one off fee calculated as a percentage of principal loan amount requested will be charged and collected before disbursement.
NCBA Loop overdraft facility have the following charges;
- Facility fee- A 2% one off fee calculated as a percentage of the Overdraft limit will be charged and collected upon activation.
- Excise Duty A 10% one off fee calculated as a percentage of the facility fee amount requested will be charged and collected upon activation.
How To Repay NCBA bank Loop Loan
As we had indicated earlier, you can borrow a loan from the NCBA loop app. When it comes to repayment, you need not worry as you can easily repay the loan through the Loop paybill number 714777 by following these steps
- Open MPESA menu
- Go to Lipa na MPESA
- Select Paybill
- Enter NCBA Loop Paybill number 714777 as the business number
- Enter your loop account number as the account number
- Enter the amount you want to repay
- Enter your M-pesa pin and send.
- A confirmation message will be sent to you from M-pesa and from NCBA Loop.
The loan will automatically be deducted from your loop account. M-pesa paybill charges will apply.
See also:
- First Community Bank Paybill Number 919700
- Spire Bank Paybill Number 498100
- Ecobank Paybill Number 700201
- Dubai Islamic Bank Kenya Paybill Number 342342
- Credit Bank Paybill Number 972700
- Consolidated Bank Paybill Number 508400
- Citibank Kenya Paybill Number 100229
- SBM Bank Paybill Number 552800
- Using Bank Of Africa Paybill Number 972900
- Using ABC Bank Paybill Number 111777
- Deposit Money To Equity Bank Using Paybill Number 247247
- Deposit Money To DTB Bank Using Paybill Number 516600
- Deposit Money Using Family Bank Paybill Number 222111
- Deposit Money Using KCB Paybill Number 522522
- Deposit Money Using NCBA Bank Paybill Number 880100
- How To Use ABSA Bank Paybill Number 303030
- How To Use Co-operative Bank MCo-opCash App
- Co-operative Bank Paybill Number 400200
Conclusion
With the advent of NCBA Bank Loop app, it is now easy to access services that would require you to spend many hours in the banking hall. You can get a loan of up to Kes.3,000,000 without filling any paper works and without any security. Take advantage of the facility and visit the nearest NCBA bank branch to learn more.
Register NCBA Loop Account by clicking here today!
