mshwari loan app

MShwari is a mobile loan service formed through a partnership between Commercial Bank of Africa ( CBA ) and Safaricom’s mobile money service M-PESA.

It is accessible from the SIM toolkit, as well as from the MySafaricom app.

M-SHWARI LOAN REQUIREMENTS

In order to qualify for a loan you will have to be an active M-PESA user for at least 6 months, save regularly on M-Shwari account and continuously use other Safaricom services such as Voice, DATA and M-PESA.

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M-SHWARI LOAN REGISTRATION PROCESS

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  • Access the M-PESA menu.
  • Select Loans and Savings.
  • Select M-PESA.
  • Select Activate

M-SHWARI LOAN AMOUNT LIMITS

One can access M-shwari loan limits from as low as KSh100 and up to KSh50,000.

M-SHWARI LOAN INTEREST RATE

The M-Shwari loan attracts a fee rate of 7.5%

M-SHWARI LOAN REPAYMENT DURATION

The Mshwari loan is payable within 30 days. However, you can repay the Mshwari loan before the due date and borrow again.

If you pay Mshwari loan in less than 30 days your Mshwari loan limit qualification will increase.

REPAY M-SHWARI LOAN

Method 1 ( via SIM toolkit )

  • Access the M-PESA menu.
  • Select Loans and Savings.
  • Select MShwari.
  • Select Loan.
  • Select Pay Loan.
  • You can pay from M-PESA or from your MShwari Account.

Method 2 ( via MySafaricom app )

  • Open the MySafaricom app and access the M-PESA tab.
  • Select Loans and Savings.
  • Select MShwari.
  • Select Loan.
  • Select Pay Loan
  • You can pay from M-PESA or from your MShwari Account.
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M-SHWARI LOAN APP PERMISSIONS

For MySafaricom app users only.

This app has access to:

  • Device & app history- retrieve running apps
  • Identity- find accounts on the device and read your own contact card
  • Contacts- find accounts on the device and read your contacts
  • Location- approximate location (network-based) and precise location (GPS and network-based)
  • Phone- read call log and read phone status and identity
  • Photos/Media/Files- read the contents of your USB storage and modify or delete the contents of your USB storage
  • Storage- read the contents of your USB storage and modify or delete the contents of your USB storage
  • Camera- take pictures and videos
  • Wi-Fi connection information- view Wi-Fi connections
  • Device ID & call information- read phone status and identity
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Other

  • update component usage statistics
  • read historical network usage
  • receive data from Internet
  • view network connections
  • full network access
  • control Near Field Communication
  • read terms you added to the dictionary
  • run at startup
  • control vibration
  • prevent device from sleeping
  • add words to user-defined dictionary
  • install shortcuts
  • uninstall shortcuts
  • read Google service configuration

HOW TO GROW M-SHWARI LOAN LIMIT

  • Increase activity on your Mshwari Account by moving money in and out of your account.
  • Increase savings on your MShwari Account.
  • Increase usage of M-PESA services.

M-SHWARI LOAN LATE REPAYMENTS

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M-shwari loan repayment period will be extended for an additional 30 days and you will be charged an additional 7.5% facilitation fee on your outstanding loan balance.

However, you will not be able to access any subsequent M-shwari loans for a period of 30 days.

M-SHWARI LOAN OVER PAYMENTS

The outstanding M-shwari loan balance will be paid off and the extra amount will be moved to your M-Shwari savings account.

M-SHWARI LOAN REPAYMENT DATE EXTENSION

Yes. However, it attracts a 7.5% penalty fee.

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M-SHWARI LOAN CONTACTS

Tel: Dial 234

Email: customercare@safaricom.co.ke

Facebook: http://www.facebook.com/SafaricomLtd

Twitter: https://twitter.com/Safaricom_Care