Mobile Loan Calculator: M-Shwari, KCB M-PESA and MCo-opCash

Updated 20 October 2026

M-Shwari, KCB M-PESA and MCo-opCash are three of the most used mobile loans in Kenya, and they charge in different ways. This calculator puts the same amount side by side, using only the charges Safaricom, KCB and Co-operative Bank publish, so you can see the cash you actually receive, the total cost and what you must repay.

How to Use the Mobile Loan Calculator

Type the amount you want to borrow. The table shows all three loans at once. If you are a Co-op Bank salary customer, choose a one, two or three month term for MCo-opCash, since its fee rises with the term. M-Shwari and KCB M-PESA are one-month loans, so their figures stay the same whatever term you pick.

How to Calculate the Cost of Each Loan

M-Shwari: Safaricom charges a 7.5% facilitation fee and 1.5% excise duty, 9% in all. The excise duty is taken off the amount sent to your M-Pesa, and you repay the loan plus the 7.5% fee within 30 days. On KSh 10,000 you receive KSh 9,850 and repay KSh 10,750.

KCB M-PESA: KCB publishes a rate of 8.80% for a one-month loan, with a minimum of KSh 1,000. On KSh 10,000 you repay KSh 10,880. KCB’s page does not say whether excise duty is added on top, so the tool shows the rate exactly as published.

MCo-opCash salary loan: Co-operative Bank charges a one-off fee of 8% for one month, 10% for two months or 12% for three months, plus insurance of 0.034% a month and excise duty of 20% of the fee. All of it is deducted before the money reaches your account, and you repay the full loan amount. On KSh 10,000 for one month the fee is KSh 800, insurance KSh 3.40 and excise KSh 160, so you receive KSh 9,036.60 and repay KSh 10,000. This matches the worked example on Co-op Bank’s own page.

The column “Cost as % of cash” divides the total cost by the cash you actually get. That is the fairest way to compare, because it accounts for fees taken upfront.

Which Mobile Loan Is Cheapest?

For one month, the three cost roughly the same, between about 9% and 11% of the cash received. MCo-opCash spreads the cost over up to three months, which can lower the effective monthly cost, but it is only open to customers whose salary goes into a Co-op Bank account. Whatever you choose, late repayment brings extra charges and can lead to a negative listing with a credit reference bureau.

Frequently Asked Questions

Can I repay M-Shwari early to pay less?

No. The 7.5% fee is fixed for the 30-day period, so repaying early does not reduce it, though it can help your limit grow.

What happens if I miss the due date?

Each lender applies its own late terms. M-Shwari, for example, rolls over unpaid loans with a further fee. Read the terms in your app.

Does this include Fuliza?

Fuliza charges daily, so use our loan app cost checker, which covers Fuliza and 30 other apps.

How do I qualify for MCo-opCash salary loans?

Co-op Bank says you need at least one salary credit into a Co-op Bank account, other than a Hekima savings account.

Sources

• Safaricom, M-Shwari product page (safaricom.co.ke): 7.5% facilitation fee and 1.5% excise duty, 30-day term.
• KCB Bank Kenya, KCB M-PESA loan page (ke.kcbgroup.com): 8.80% rate, one-month term, minimum KSh 1,000.
• Co-operative Bank of Kenya, “What are the charges?” FAQ (co-opbank.co.ke): 8%, 10% and 12% fees, 0.034% monthly insurance, 20% excise on the fee.

Related Tools and Guides

• All free Business Radar tools
• M-Shwari charges explained and Fuliza vs M-Shwari
• How to apply for KCB M-PESA
• Compare loans from licensed lenders

If you borrow to cover a gap in income, a steadier fix may be a new job. JobinKenya lists current vacancies across Kenya.