Read This Before Applying Loans On M-Shwari


Active registered Safaricom customers who have used their SIM cards for at least 6 months are eligible to apply for mobile loans. One of the loan platforms is M-Shwari.

There are certain things you should know before applying for a loan on M-Shwari.

1. M-shwari applies a facilitation fee of 7.5% each month if you have applied a loan. If you early enough, usually within 10 days a certain amount of money is returned to your account.

2. If you fail to pay your loan within 60 days, you cannot access loans for a certain period of time. To be on the safe side pay your loan within 30 days.

 3. To increase your loan limit on M-Shwari ensure you save and transact money frequently into your account.

4. If you are new to the platform, you get either a minimum of ksh 300 and a maximum of ksh1000. It depends on the customer's Mpesa usage.

6. You can save huge sums of money on your M-Shwari account. You simply open a fixed savings account by placing the target amount, deposit and the period of time you want to save.

You can withdraw your money anytime but it takes 2-3 working days to get your money back.