Introducing M-Kesho, an initiative by Equity bank and Safaricom Ltd

What is the M-KESHO?

This is a bank account introduced by both Equity and Safaricom where customers can earn interest from as little as Kshs 1.  Customers can withdraw cash from their Equity Bank Account to their M-PESA accounts and customers can also deposit through their M-PESA accounts to their M-KESHO Bank account

Other features of the account include Micro credit facilities (emergency credit availed through M-PESA), Micro insurance facilities as well as a personal accident cover that translates into a full cover after 1 year.  For one to open this account, the person must be an M-PESA subscriber.

Main features of M-Kesho:

1. Micro-savings:

  1. Interest at the following rates paid half yearly:
  2. + 0 – 2,000 – 0.5%
    + 2,001 – 5,000 – 1%
    + 5,001 – 10,000 – 2%
    + 10,001 and above – 3%

  3. No minimum balance
  4. No ledger fees
  5. Neither notice nor penalties on withdrawal.
  6. Max value/trx – Kshs 35,000. Currently following up with CBK on revision of maximum trx limits.
  7. Mini statement (max 5 transactions)
  8. Balance enquiry available

2. Micro-Credit

o Ksh 100 – Ksh 5000
o Application fee (LACE) 10% but at a min charge of Ksh 20.
o Advance period – max 30 days
o Default interest penalty 3% of value.
o Recovery from next deposit
o Credit transferred from M-KESHO into M-PESA e value

3. Micro-insurance Product – Personal Accident related

  1. Annual premium:
    1. Kshs 530 if annual
    2. Ksh 830 if monthly
    3. Ksh 1030 if paid weekly
  2. Accidental Death cover: Kshs 150,000
  3. Permanent Disability: Kshs 150,000
  4. Medical expenses: Kshs 30,000
  5. Funeral expenses: Kshs 20,000
  6. Payable only from C4 account
  7. After 1 year it is upgradable to full life insurance

What you need to access this account:

  • You need a mobile phone
  • You need to be a registered M-PESA user
  • You will need to fill an application form at selected  outlets

Requirements for opening the account:

  • Fill an application form
  • Produce your original ID and a copy of your ID (Passports and other forms of identification will not be allowed to open the M-KESHO account)
  • 2 passport size photos

Depositing money into M-KESHO:

  • Equity account holders can transfer money into their M-KESHO from their normal accounts.
  • You can also transfer money to your M-KESHO through M-PESA
  • You will not be able to transfer money to your M-KESHO through the tellers/Cashiers

Contacts for M-PESA and EQUITY:

  • Call Equity +254-711-025000
  • Send an E-mail to mpesa@

7 thoughts on “Introducing M-Kesho, an initiative by Equity bank and Safaricom Ltd

  1. i registered with mkesho on 9th.Aug. Until now my acc …. have never been activated. After calls and emails i ‘m always told to wait for 3 days. Now 3 days are 4 months. Anyone help me please.

  2. I applied for an account with M Kesho in Eldoret some moths back but to date never heard of anything from it. I wonder what could have happened

  3. MKesho is a brilliant idea; money paid through mpesa can now be transferred haslefree to ones account without having to queue for withdrawal and deposits. Keep it up our partner.

  4. Thank you Equity Bank for moving with time.
    you would still make it easier for us by providing the application form online.

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