Mshwari: In-depth Review of the most popular loan app

Mshwari is owned by Safaricom and NCBA (formerly CBA, after merging with NIC bank). The latest market data shows there are over 31 million registered customers.

Talk about online mobile loan service providers, and a name that comes to mind is M-Shwari. A brainchild of the largest mobile service operator and one of the largest banks in the region, Mshwari stands out as one of the leading mobile loans and savings facilities.Here are the few things you need to know.

  • A registered user can save a minimum of Kshs 1
  • Mshwari is owned by Safaricom and NCBA
  • The loan amount ranges from Kshs 2000 to Kshs 50,000
  • You may give NCBA a call via +254 20 2884444

In this read, we will talk more about owners of the facility, mobile loan service, Mshwari lock savings account Mshwari, consequences of defaulting on a loan, Mshwari interest rates, penalties, repayment, and much more.

After that, not only will you gain more insights, but you also will be able to gauge if it’s a good fit for you.

Who Owns Mshwari?

he new NCBA has harnessed the power of both NIC and CBA to create a bank that brings together the best of both worlds.

Mshwari is owned by Safaricom and NCBA (formerly CBA, after merging with NIC bank). The latest market data shows there are over 31 million registered customers.

This makes it the largest in terms of customer base. Mshwari customer deposits are also large and stood at Sh571.1 billion as of the end of 2021. This clearly shows Kenyans appetite for both loans as well as savings.

What does it offer?

M-Shwari comes from the Swahili name ‘Shwari,” which means OK. According to the service provider, their main goal was to help consumers have easy access to credit. It also targeted the unbanked people who have difficulty accessing traditional credit/ banking services.

The mobile money service provider offers mobile loans. At the same time, it also allows a user to save money. Both services work via the Mpesa platform.

It’s a fully digital service that operates online via mobile platforms. You don’t need to visit a physical office to enjoy the services.

How much can you save in M-Shwari?

A registered user can save a minimum of Kshs 1. The Mshwari lock savings account doesn’t have a maximum daily amount.

Nevertheless, it should be in line with the daily Mpesa volume, set at Kshs 140,000. The account has no limits regarding the volume or number of daily transactions. This flexibility is what makes many people prefer it over other options.

How to check Mshwari limit

The loan amount ranges from Kshs 2000 to Kshs 50,000. The monthly interest rate is 7.5%, and a user can roll it over. You can check your Mshwari Limit using your phone’s Sim Toolkit. Follow these steps:

  •           Go to phone SIM toolkit
  •           Select Safaricom Menu
  •           Click the M-PESA option
  •           Select Loans and Savings
  •           Click on Mshwari
  •           Pick Check balance option
  •          Input M-PESA PIN

Checking loan or balance via USSD Code

  •           Dial the *334#
  •           Choose ‘Loans & Savings ‘(option 4)
  •           Select Mshwari ‘(option 2)
  •           Click’ Check balance’
  •         Key in Mpesa PIN

You’ll receive an SMS message showing Mshwari balance.

How to pay Mshwari loan via Paybill

Mshwari allows loan borrowers to pay back using Mpesa. This is the same avenue used to request a loan.

However, unlike the common methods, Mshwari doesn’t have a Paybill number. Despite the absence of a Mshwari Paybill number repaying a loan is straightforward and is as follows:

  •     Using your phone, go to the M-Shwari’ menu
  •    Select the ‘LOAN’ option
  •    Choose ‘Pay Loan’
  •    Enter Amount and then PIN
  •    Confirm the details are correct
  •    Press OK

A successful or unsuccessful SMS message will be sent back. The Mshwari loan calculator comes in handy if you want to know the due amount.


It’s essential to read the Mshwari loan terms and conditions thoroughly. This helps a prospective borrower to understand the service entirely.

Also, it prevents future disagreements, conflicts, or unnecessary expenses or penalties. It’s only after going through the entire document that you should click on the “agree” option.

M-Shwari is a savings and loan service that enables M-PESA customers to spur their businesses.

How to pay Mshwari loan for another number

It’s possible to pay the Mshwari loan from another line. During registration, the account is linked to a specific Mpesa sim card/ phone line. This allows loan requisition and savings to be synchronized.

Nevertheless, you can still repay a loan to another Mshwari loan account. However, you’ll firsts need to fully clear the existing loan on the current Mpesa line.

How to pay Mshwari loan using fuliza

Borrowers are able to pay a Mshwari loan using a Fuliza loan. The steps are as follows:

  •         Have two registered Safaricom sim cards/ lines
  •         Activate Fuliza on both Safaricom lines
  •         Ensure one of the lines doesn’t have a pending loan
  •         Fuliza from the line without any loan
  •        The Mshwari loan will still be pending on one line. At the same time, you’ll have acquired another loan (Fuliza).


NCBA issued new terms that state that it may block/hold funds in M-Shwari as security for an outstanding Fuliza loan.

Mshwari debt collectors

Findings from the Central Bank of Kenya (CBK), Kenya National Bureau of Statistics (KNBS), and FSD Kenya indicate that more than 50%of borrowers have defaulted on their loans.

This situation was a result of the covid-19 pandemic that led to job closures and increased losses. Mshwari wasn’t spared and recorded an increase in loan default.

Unlike most other mobile loan firms, Mshwari doesn’t rely on in-house debt collectors.

Instead, it outsources the task to an outside contractor. Currently, Mshwari Debt Collectors Include Boresha credit services ltd, Gilchery Limited, and Nimble Group Kenya.

Why is my Mshwari loan limit 0?

A loan goes into default if it’s unpaid after 60 days (2 months). This leads to the Mshwari loan limit being reduced.

If the default exceeds 3months (90 days), the loan limit reduces to nil/zero. This means that you won’t be able to get another loan. Also, you’ll be listed in the CRB as a defaulter.

The situation will be rectified if you first clear the outstanding loan plus any other Mshwari loan penalties.

You’ll also need to get Mshwari CRB clearance. Even after the clearance, it does take time to build good credit. The loan limit may still be nil afterward for some period.

Mshwari customer care number

Customers have several ways of contacting the service provider. You can opt to visit Safaricom service centers or NCBA bank branches.

NCBA head office is located at the junction of Mara and Ragati Roads in Upper-hill, Hill. Safaricom headquarters is at the Safaricom House Waiyaki Way, Westlands, and Nairobi.

You may give NCBA a call via +254 20 2884444(Landline), 0800 720 444(Toll Number), +254 711 056444/+254 732 15644(Mobile). Alternatively, you can visit their website at, Twitter, or via email at More information on Mshwari contacts numbers is available via its guidelines and complaints.