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The loan is payable within 30 days

The loan is payable within 30 days

However, you can repay the loan before the due date and borrow again. If you pay the loan in less than 30 days your loan limit qualification will increase.

The M-Shwari loan DOES NOT attract any interest. The 7.5% charged is a loan facilitation fee payable only once for each loan taken.

The loan amount is dependent on your loan amount limit, previous loan repayment behaviour and usage of other Safaricom services such as Voice, DATA and M-PESA.

If you have saved Kshs 5000 in your M-Shwari and have a loan of Kshs 2000 and do not repay within the loan duration (30 days), what happens to the money in your deposit account?

  • When you borrow the Ksh 2,000, the money in your savings account will be frozen to the loan amount and the loan fee (loan amount Ksh 2,000 loan plus a facilitation fee of Ksh 150).
  • You will only be able to access any balance above the frozen amount. The frozen amount will be accessible once you pay the loan. However you can continue to deposit money. Note: During the period the frozen savings will continue to earn interest which will be paid into your M-Shwari at the end of calendar quarter.

For you to qualify for your initial loan you must deposit money in your savings. The amount you can borrow will depend on your usage of Safaricom Voice and DATA as well as your M-PESA usage.

Your loan repayment period will be extended for an additional 30 days and you will be charged an additional 7.5% facilitation fee on your outstanding loan balance.

The outstanding loan balance will be paid off and the extra amount will be moved to your M-Shwari savings account.

If you pay your loan before the due date, will you still be charged the loan facilitation fee of 7.5% on the loan amount? Continue reading The loan is payable within 30 days

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The rain has actually stopped by now, so I go for a run while the path isn’t too wet

The rain has actually stopped by now, so I go for a run while the path isn’t too wet

4:45pm – I pack up my work for the day and head home. While I’m on my cool down walk back, I see that the pizza place near us is having their cheap Tuesday deal. It’s tempting me!

6:00pm – I tell my boyfriend about the pizza deal, so we order two for dinner ($26) and go for a walk to catch up on the day while we wait for the pizzas to cook. Now that we’ve cut down our commute times, it’s been really valuable to have the opportunity to go for a walk and download about the day together. $26

7:30pm – We eat our pizza for dinner while watching the newest episodes of a show we’ve been watching on Netflix called Arcane. It’s an animated series based in the League of Legends universe and although I haven’t played the game, I’ve been really enjoying the show. I have a habit of rewatching shows I find comforting because I know what happens. It’s good to have something a bit different to break that up

pm – We accidentally watch all three of the episodes and stay up later than we meant to. This means it’s a very lazy skincare routine for me, using the same cleansing duo I used last night, followed by the Go-To Face Hero face oil and the Avene Hydrance Sleeping Mask. These products are my favourites when I’m feeling tired or lazy at night, as they still leave my skin hydrated and happy, but I can get my routine done in about two minutes. Continue reading The rain has actually stopped by now, so I go for a run while the path isn’t too wet