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M-Shwari loan cost calculator

7.5% facility fee per 30-day period. Calculate total cost, rollover scenarios, and effective annual rate.

M-Shwari loan amount
KES
Number of 30-day periods (rollovers)
× 30 days

Standard term is 1 period (30 days). Each rollover adds another 7.5% facility fee on the original principal. Rolling over also affects future eligibility.

Result

Loan cost (9%)

KES 900

KES 750 fee + KES 150 excise

Term (1 period)

30 days

Total to repay

KES 10,900

Effective annualised cost: 109.5%. M-Shwari is among the cheapest M-PESA-menu loans, but rolling over compounds the cost quickly.

7.5% facility fee per 30-day term, NCBA Bank operated. Verify on ncbagroup.com.

Effective APR · M-Shwari

~138%/yr

Published as 7.5% per 30-day term, but annualised that's ~138% APR, the headline rate hides the true cost.

If you compound the 7.5% monthly fee, M-Shwari's effective APR is roughly 138%. That's expensive for a working-capital tool, fine for a true emergency, terrible if you're rolling it month after month.

Cheaper alternatives at this term

  • Hustler Fund: 8% per annum (~8% APR), slowest to receive, cheapest by far
  • KCB M-PESA: ~7.35% per 30 days, similar APR to M-Shwari
  • SACCO emergency loan: 12-14% per annum on the share-capital multiplier
  • Salary advance from employer: free if your HR offers it

How M-Shwari pricing works

M-Shwari is NCBA Bank's mobile-first short-term loan product, accessed through the M-PESA menu under Loans and Savings. The pricing is simple: a flat 7.5% facility fee on the loan principal for the standard 30-day term. No daily interest, no compounding inside a term.

The fee is charged upfront when the loan disburses (technically deducted from your M-Shwari balance, so the net cash to you is principal minus fee). Repayment is auto-deducted from your M-PESA balance on day 30.

Rollover behaviour

If you cannot repay by day 30, M-Shwari extends the loan for another 30 days and charges another 7.5% facility fee on the original principal. Two periods means a 15% total fee, three periods 22.5%, and so on. CRB listing typically follows after 90 days late.

Practical advice: never roll over more than once. If you cannot repay after a single rollover, contact NCBA customer support before defaulting. They will sometimes restructure rather than CRB-list a customer who reaches out proactively.

Frequently asked

How much does M-Shwari charge?

M-Shwari charges a flat 7.5% facility fee on the loan amount for the standard 30-day term. So a KES 10,000 loan costs KES 750 in fees, total repayment KES 10,750.

What happens if I cannot repay in 30 days?

M-Shwari rolls the loan over for another 30-day period and charges another 7.5% facility fee on the original principal. The new total compounds the cost. After 90 days late, NCBA reports the default to all three Credit Reference Bureaus.

Is M-Shwari cheaper than KCB M-PESA?

Yes, marginally. M-Shwari charges 7.5% per 30 days, KCB M-PESA charges 9.06% per 30 days. On a KES 10,000 loan that is KES 156 cheaper on M-Shwari. See our M-Shwari vs KCB M-PESA comparison for the full picture.

What is the maximum M-Shwari loan?

M-Shwari typically caps around KES 50,000 for proven users. Limits grow with M-PESA transaction history and successful repayment record. For amounts above KES 50,000, KCB M-PESA usually offers higher ceilings.

How do I apply for M-Shwari?

Dial *334# from your Safaricom line, choose Loan and Savings, then M-Shwari, then Loan. Funds disburse to your M-Shwari wallet within seconds, transferable to your M-PESA balance.

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