Which Is The Best For Savings? Mshwari Or KCB Mpesa?

There are certain scenarios in life whereby we are faced with dilemmas or challenges requiring us to make choices between items of almost similar attributes.

This can prove to be a daunting task to some, but to those with the advantage of possessing in-depth knowledge of the said items, making the right decision could be as simple as weighing the pros and cons of each.

Similarly, there have been many inquiries regarding which is the best mobile savings platform between Mshwari and KCB Mpesa.

Below, we look at some of the comparisons between the two.

LOAN FEATURE	M-Shwari	KCB M-Pesa
Min. loan limit	Ksh2,000	Ksh50
Max. loan limit	Ksh50,000	Ksh1M
Interest rate	7.5%	7.5%
Repayment duration	30 days	30 days
SAVINGS FEATURE
Interest rate	Deposit Account	Fixed Savings Account
	Ksh1- Ksh20K (3%P.A)	All amounts attract 6.3% P.A
	Ksh20K – Ksh50K (4%P.A)	All amounts attract 6.3% P.A
	Ksh50K and above (5%P.A)	All amounts attract 6.3% P.A
Amount	Should be more than Ksh1	Should be more than Ksh500
Period	N/A	1 – 12 months
Early withdrawal	Available	Available. However, you will lose all the interest earned.
Interest rate	Lock savings Account	Target Savings Account
	Ksh1 – Ksh20K (3% P.A)	All amounts attract 6.3% P.A
	Ksh20K – Ksh50K (5% P.A)	All amounts attract 6.3% P.A
	Ksh50K and above (7% P.A)	All amounts attract 6.3% P.A
Amount	Should be more than Ksh1	Initial deposit amount of not less than Ksh50 while target amount should be more than Ksh1K
Period	1 – 6 months	1 – 12 months
Early withdrawal	Available either as partial/full withdrawal. Funds will be availed after 48 hours	Available only as full withdrawal. Total interest is earned upto date of withdrawal. Funds are available immediately to KCB M-Pesa account