How to get a Loan from M-shwari

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M-Shwari mobile loan offers loan limits ranging from Ksh 100 to Ksh 50,000 with a repayment period of 30 days. Loans are approved almost instantly with an interest rate of 7.5%. To check your limit and get approved, you need to have an M-Pesa account. M-Shwari loans are unsecured.

Disbursement Details: How to Access/Register for the Loan

Mpesa App in Play Store screenshot

Mpesa App in Play Store screenshot

How to Access Mshwari Loan

  1. USSD: Dial *234# and select M-Shwari.
  2. App: Download the M-Pesa app from the Google Play Store or Apple Store.
  3. Follow the registration prompts and agree to the terms and conditions.

Steps to Apply for M-Shwari Loan:

  1. Open the M-Pesa app.
  2. Select “Loans and Savings.”
  3. Choose “M-Shwari” and click “Request Loan.”
  4. Enter the amount and confirm the transaction.

Curious about your M-Shwari loan limit? Follow these simple steps:

  1. *Dial 234#: Access your M-Pesa menu.
  2. Select ‘Loans and Savings’: Navigate to M-Shwari.
  3. Choose ‘Check Loan Limit’: Receive an SMS with your current limit.
  4. Review Your Eligibility: Understand where you stand.

Total Cost Breakdown (Loan Fees)

  • Interest Fee: 7.5% of the loan amount
  • Taxes: Included in the processing fee
  • Insurance: None
  • Withdrawal Fee: As per M-Pesa charges
  • Late Payment Penalty: 7.5% of the outstanding loan amount

Mshwari Mobile Loan App featured image

Repayment Details

M-Shwari loans need to be repaid within 30 days. Early repayment is allowed and can improve your credit limit. Repayment methods include:

  1. M-Pesa Menu: Go to “Loans and Savings,” select “M-Shwari,” and click “Pay Loan.”
  2. USSD: Dial *234#, choose M-Shwari, and follow the prompts.

Eligibility Requirements

To qualify for an M-Shwari loan, you need:

  1. An active M-Pesa account
  2. A valid Kenyan ID
  3. A history of M-Pesa transactions
  4. No outstanding M-Shwari loans

How to increase your M-Shwari Loan Limit

Ready to unlock a higher M-Shwari loan limit? Implement these strategies:

  1. Save More: Regular savings lead to increased eligibility. Aim for consistent deposits.
  2. Transact Frequently: Use M-Pesa actively. Send money, pay bills, and buy airtime.
  3. Timely Repayments: Repay loans promptly. It builds trust and improves your limit.
  4. Keep Your Line Active: An active M-Pesa line is crucial for eligibility.
  5. Financial Discipline: Balance loans and savings wisely. Responsible behavior matters.

Representative Example of Loan Costs

Here is a breakdown of potential loan costs when using the M-Shwari.

Loan AmountLoan Fee (7.5%)Total Repayable
Ksh 1,000Ksh 75Ksh 1,075
Ksh 5,000Ksh 375Ksh 5,375
Ksh 10,000Ksh 750Ksh 10,750

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M-Shwari mobile loan provides a quick, convenient, and affordable way to access funds, making it an excellent option for anyone in need of financial assistance.