I recently took a MyKes loan and wanted to repay it using M-Pesa, but I wasn’t sure about the exact steps. Since missing the deadline can lead to extra charges, I needed a quick and reliable way to pay.
If you’re in the same situation, here’s a simple guide to help you repay your MyKes loan easily using M-Pesa.
Quick Answer
To repay a MyKes loan via M-Pesa, go to Lipa na M-Pesa, select Paybill, enter 4047993, use your phone number as the account number, and complete the payment.
Step-by-Step: How to Repay MyKes Loan via M-Pesa
Step 1: Open M-Pesa Menu
Go to your phone and open the M-Pesa menu.
Step 2: Select Lipa na M-Pesa
Choose the “Lipa na M-Pesa” option.
Step 3: Select Paybill
Tap on Paybill to proceed.
Step 4: Enter Business Number
Enter 4047993 as the business number.
Step 5: Enter Account Number
Use your phone number as the account number.
Step 6: Enter Amount
Input the amount you want to repay.
Step 7: Enter PIN and Confirm
Enter your M-Pesa PIN and press OK to complete the payment.
Important Things to Check Before Paying
- Confirm the business name is Deltech Capital Kenya
- Double-check your phone number as the account number
- Ensure you enter the correct repayment amount
- Keep the confirmation SMS as proof
What Happens If You Don’t Repay MyKes Loan on Time?
- You will be charged 2% interest per day on the outstanding amount
- The company may contact people in your phonebook for recovery
- Your credit score may be affected
Extra Tips and Best Practices
- Repay your loan before the due date
- Save the paybill number for quick access
- Always confirm payment details before sending
- Avoid taking loans you cannot repay on time
- Track your repayment using SMS confirmations
Common Mistakes to Avoid
- Entering the wrong paybill number
- Using the wrong account number
- Sending less than the required repayment amount
- Ignoring due dates
- Not confirming the recipient name
FAQ
Can I repay MyKes loan using M-Pesa only?
No, you can also repay using the MyKes app.
What account number should I use?
Use your registered phone number.
Is repayment instant?
Yes, once payment is successful, it reflects immediately.
Conclusion
Repaying your MyKes loan via M-Pesa is quick and straightforward if you follow the correct steps. Always confirm details before sending money and make payments on time to avoid penalties.
