M-Shwari is simple to price once you know the parts. Moving money in and out is cheap, loans carry a flat fee, and Lock Savings has almost no charges.
Loan charges
| Item | Charge |
|---|---|
| Facilitation fee | 7.5% of the loan |
| Excise duty | 1.5% of the loan, deducted when the loan is sent |
| Interest | None |
| Late repayment | Loan rolls over 30 days with another 7.5% on the unpaid balance |
On a KSh 1,000 loan you receive KSh 985 in M-Pesa and repay KSh 1,075 within 30 days.
M-Shwari loan calculatorBased on Safaricom's published M-Shwari pricing: 7.5% facilitation fee plus 1.5% excise duty deducted from the amount sent to M-Pesa. Repay within 30 days.
Lock Savings charges
| Item | Charge |
|---|---|
| Moving money from M-Shwari to Lock Savings | KSh 0 |
| Lock Savings balance inquiry | KSh 1 |
| Lock Savings mini statement | KSh 1 |
| Monthly fees | None |
Lock Savings interest
| Amount locked (KSh) | Interest rate |
|---|---|
| 1 to 20,000 | 3% a year |
| 20,001 to 50,000 | 5% a year |
| Above 50,000 | 6% a year |
Keeping costs low
- Repay within 30 days. A rollover adds another 7.5%, which almost doubles the cost of the loan.
- Borrow only what you need. The fee is a percentage, so a smaller loan costs less.
- Compare with Fuliza for short gaps. For a few days, a small Fuliza can be cheaper. See our Fuliza charges guide.
More in our full M-Shwari guide.
