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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
Categories: Loan Apps - Kenya
Why can’t I get Fuliza or Mshwari from my number even though I use Mpesa services and make calls and send texts with it?
To be sincere ihad been dealing with safaricom mpesa transactions and even saving my money in mshwari account but you never give me a loan limit,kindly how do I do inorder my loan limit can grow
You’ve never increased my loan limit since last year 😏😏To be honest when i compare my transactions and my loan limit i feel pissed off👐🤥i even ask my self very many questions 🤔like how m_shwari works, what do you consider when increasing loan limits to your customers??? And please dont tell me to read the above statements coz am already qualified.
why do i have a zero limit
Hi Teddy, according to Safaricom, Mshwari limits are dependent on the frequency in which you use the Safaricom services including call,sms,data as well as Mpesa transactions.
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