M-Shwari Personal Unsecured Loan Details

Rates available from as of 1st April 2021
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M-Shwari

M-Shwari
Amount
KES
100
-
50000
Duration
1
months
-
1
months
Total Cost
9
%
-
9
%
per loan
Typically approved within
1
days
visit website

Loan Fees:

  • Interest Minimum: None
  • Interest Maximum: None
  • Processing fee: 9%
  • Insurance Fee: None
  • Withdrawal Fee: None
  • Late Fees: 9% Rollover
  • Other Fees: None

Disbursement Details:

  • Institution Type: Commercial Bank
  • Application Method: Digital
  • Disbursement Method: M-Pesa

Repayment Details:

  • Repayment Frequency: Bullet
  • Early Repayment: Allowed
  • Repayment Method: M-Pesa

Eligibility Requirement:

  • Smartphone: Not required
  • CRB: Must be in good standing
  • Income: No Minimum
  • Employment: Not required
  • Network: M-Pesa customer
  • History: Active M-Pesa for 6 months

Documents:

Money254 Review

Pros:

  • Fast approval time (Less than 24 hours)
  • Loan limit grows over time
  • Discount on processing fee if repaid within a week (20%)    

Cons:

  • Must have active M-Pesa account for 6 months
  • Loan limit starts small, depending on transaction history

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How to Apply for M-Shwari Loan, Repayment, Fees, Contacts

M-Shwari is a mobile loan service created via a partnership between NCBA Bank and Safaricom’s M-PESA. NCBA maintains a dedicated management information system, regulatory compliance, reports to the Credit Reference Bureau (CRB), and provides capital to fund the loan portfolio. 

It is also NCBA that carries the risk and absorbs losses from non-performing loans.

The loans are accessible from the Safaricom SIM toolkit, MySafaricom app, and the recently launched M-PESA app.

Who Is Eligible For M-Shwari Loans?

M-Shwari Loan Limits and Interest Rates

How to Register Using M-Shwari

How to Apply for Your First M-Shwari Loan via Sim Toolkit

How to Apply for Your First M-Shwari Loan via MySafaricom App

How to Make M-Shwari Loan Repayments

M-Shwari Fees and Penalties

M-Shwari MySafaricom Loan App Privacy and Permissions

Learn more about Personal Loans available in Kenya on Money254

Money 254 is a new platform focused on helping you make more out of the money you have. We've created a simple, fast and secure way to find and compare financial products that best match your needs. All of the information shown is from products available at established financial institutions that our team of experts has tirelessly collected. Instantly search loan products from established providers in Kenya and compare on the terms that matter most to you.

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