M-Shwari is a savings and loan service that enables M-PESA customers to;
- Save as little as Kshs. 1, and access credit from Kshs. 1,000.
- Earn interest of up to 6.3% p.a. on your savings balance.
- Save for a fixed period of time
- Access loans instantly, credited to your M-PESA account from a minimum of Kshs. 1,000 and up to Kshs. 1million account charged at 9% Being Loan Fees of 7.5% and 1.5% Excise Duty. Excise duty is deducted from the loan amount to be sent to M-PESA
How to qualify for a loan
- Be an M-PESA subscriber for at least 6 months
- Save on M-Shwari
- Actively use other Safaricom services such as voice, data and M-PESA.
What should I expect when I borrow?
- Access loan limits from as low as Ksh.100 and up to Ksh.50,000.
- Enjoy a one month repayment period.
- Loan repayment can be made via M-PESA, or from the M-Shwari account.
How does it work?
- Access the M-PESA menu.
- Select Loans and Savings.
- Select M-Shwari.
- Select Loan.
- Request Loan.
- Enter amount.
- Enter your M-PESA PIN
- Loan amount will be sent to your M-PESA Account. The loan amount to be paid will be in inclusive of the facility fee.
