This blog post cover the question- why is my KCB Mpesa loan limit 0? If you have applied for a KCB Mpesa loan and your limit is showing as zero, you may be wondering why this is the case.
This can be a frustrating experience, especially if you were counting on the loan to help you through a financial emergency.
There could be several reasons why your KCB Mpesa loan limit is showing as 0. In this blog post, we will explore some of the common causes and what you can do to address them.
Why is my KCB Mpesa loan limit 0? Here is why;
1. Insufficient Mpesa transaction history
KCB Mpesa uses your Mpesa transaction history to determine your loan limit. If you have not used Mpesa frequently or your transaction history is not substantial enough, this could be why your loan limit is showing as zero.
To increase your loan limit, you need to increase your Mpesa transaction history by using Mpesa more frequently for transactions such as paying bills, buying airtime, and sending money.
2. Late repayment of previous loans
If you have taken a KCB Mpesa loan before and failed to repay it on time, this could be the reason why your loan limit is showing as 0.
KCB Mpesa has strict guidelines when it comes to loan repayment, and failure to repay a loan on time can result in a decrease or suspension of your loan limit.
To address this issue, you need to clear any outstanding loans and make sure to repay future loans on time.
3. Low credit score
KCB Mpesa also checks your credit score before approving a loan. If your credit score is low, this could be why your loan limit is showing as zero.
Your credit score is affected by several factors, including your payment history, credit utilization, and credit inquiries.
So, to improve your credit score, you need to make timely payments on your debts, keep your credit utilization low, and avoid applying for too much credit at once.
4. Incomplete Mpesa registration
If your Mpesa registration is incomplete or inaccurate, this could be why your loan limit is showing as zero. Make sure that your Mpesa registration is complete and accurate by providing all the required information, including your name, ID number, and phone number.
Wrapping up the question Why is my KCB Mpesa loan limit 0
In conclusion, if your KCB Mpesa loan limit is showing as zero, it could be due to several reasons, including insufficient Mpesa transaction history, late repayment of previous loans, low credit score, or incomplete Mpesa registration.
To address this issue, you need to increase your Mpesa transaction history, clear any outstanding loans, improve your credit score, and ensure that your Mpesa registration is complete and accurate. By doing so, you can increase your chances of getting approved for a KCB Mpesa loan with a higher limit.