Mshwari Loan [2021]- How To Apply, Repay, Interest rate, Contacts.

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.

M-SHWARI LOAN REGISTRATION PROCESS

  • 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.

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.

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

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

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.

M-SHWARI LOAN CONTACTS

Tel: Dial 234

Email: customercare@safaricom.co.ke

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

Twitter: https://twitter.com/Safaricom_Care



Categories: Loan Apps

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16 replies

  1. Loan lomit is still zero and i meet all qulifications

  2. My current loan limit is sh 0,why?

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