M-Shwari combines mobile savings with instant credit so you can save and borrow directly from your phone. This guide explains eligibility, pricing, repayment rules, and how to keep your loan limit growing.
What M-Shwari Offers
M-Shwari gives you a savings account and a loan account in one place. Savings grow over time, and your savings and usage history help determine how much you can borrow.
How Loan Pricing Works
Interest is calculated daily based on your loan amount and chosen duration. Short-term loans use a 7.5% p.a. rate, while long-term loans use a 8.5% p.a. rate. A facility fee of 1.5% applies per loan and is added to your total charges.
Eligibility and Loan Limits
To qualify, you need an active M-PESA line and a history of savings and usage. The minimum loan is KES 100 and the maximum is KES 300,000. Choose a duration between 7 and 365 days, depending on how quickly you plan to repay.
How to Apply, Opt In, and Opt Out
Use the M-PESA app or dial *345# and follow the M-Shwari menu prompts. Opt in to activate the service, borrow from the loan menu, and opt out from the same menu if you no longer want access.
Repayment and Early Settlement
Repayments can be made anytime from your M-PESA balance. Early settlement reduces your interest cost and helps improve your future limit. If you miss repayment, your access and loan limit can be affected.
Tips to Grow Your Limit
Save regularly, repay on time, and keep your account active. Consistent usage signals reliability and can increase your future borrowing limit.
Tip: Borrow only what you need and repay early to improve your limit over time.