Mshwari Loan [2023]- How To Apply, Repay, Interest rate, Contacts.
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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 9%
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 9% 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 9% 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
Why are we being charged different interest,that’s 7.5% and 9% .
Then tell us nowadays we cannot talk to customer care,just remove that option it’s not helping us at all.
I took a loan of 2000 and the interest charge was 180 Shs which is 9 per cent yet you say it is 7.5 per cent which should be 150 Shs. Please clarify.
Loan lomit is still zero and i meet all qulifications
My current loan limit is sh 0,why?