M-Shwari is the banking service of M-Pesa which encompasses loans and savings. It is a product Safaricom in conjunction with CBA Bank. The M-Shwari loans are valid for 30 days and charges a facilitation fee of 7.5% of the loan amount. At times there may arise a situation where one may decide to pay the M-Shwari loan for another number. This article will try to elaborate on how to pay an M-Shwari loan for another number.
Repaying the M-Shwari loan in time will increase one’s loan limit as well one can be able to get a 20% discount refund on the facility fee charged. M-Shwari loan also allows one to make partial payments within the 30 days loan period.
Beside an M-Shwari loan, you may also have a pending loan from Tala. Here are the steps you should follow to repay your Tala loan.
Can you repay M-Shwari for another number?
M-Shwari does not provide a direct and elaborate way to repay M-Shwari loan for another number directly from your account to his/hers. However, if you need to repay M-Shwari loan for another number you can help that person by first sending them the money to their M-Pesa account.
How to send the money to the other person
- Go to your M-Pesa menu
- Select send money option
- Enter the phone number you are sending the money to
- Enter the amount you want to send
- Enter your M-Pesa PIN number
- Press OK
The money will be received by the person you wanted to pay the loan for. From there, he/she will be able to repay the loan through their phone. However, if your friend does not know how to repay the loan, you can help him or her to repay the loan by following the steps here below:
- Go to the person’s M-Pesa menu
- Select loans and savings option
- Choose the M-Shwari option
- Select the loan option
- Then choose the pay loan option
- If the money is in M-Pesa, choose the M-Pesa option
- Enter the amount
- You will be required to enter the M-Pesa PIN
- Tell him/her to enter his/her M-Pesa secret PIN
- The amount of the loan will be automatically deducted from M-Pesa account
If the question on how to pay M-Shwari loan for another number has been lingering in your mind, hope this article answers it sufficiently.
