How to get M-Shwari loan

  Safaricom

M-Shwari is a product by Safaricom that allows subscribers to access loans conveniently. In case you don’t know how to secure it, here is a guideline.

How to register for M-Shwari

The process is simple

  • Go to your M-Pesa menu.
  • Click on update menu
  • Go back to your M-Pesa menu
  • Select loans and savings
  • Select M-Shwari
  • Click Activate

You are set

M-Shwari loan terms and conditions

  • A one-time fee of 7.5% is usually charged on the M-Shwari loan.
  • Your sim card must be at least 6 months old.
  • You must be actively using other Safaricom products
  • The loan limit is Ksh 50,000 but you can access amounts as low as Ksh 100
  • The repayment period is usually 30 days (one month)
  • The repayment of your loan is via M-Pesa or Mshwari.

How to get an M-Shwari loan

  • Go to your M-Pesa menu
  • Select loans and savings
  • Choose M-Shwari
  • Select loan

Choose check loan limit (This step is important especially if you want to get you’re a loan equivalent to your limit).

You can also opt to skip this step if you had a specific amount in your mind lower than your limit or don’t want to take a higher loan.

In case you ask for your loan limit, you should get a confirmation text from M-Shwari documenting it. You can then repeat the earlier steps up to “Select loan”.

  • Request loan
  • Enter the amount you wish to be loaned in the empty dialogue box
  • Enter your M-Pesa PIN
  • Click okay to send the request
  • You will receive a message from M-Pesa confirming your M-Pesa being credited with M-Shwari loan detailing the transaction and the expected repayment date.

The process of getting an M-Shwari loan is simple and straightforward. Ensure you repay the loan within the stipulated time to avoid negative CRB listing and increase your loan limits.