Kenyans have taken to social media to share reports of higher M-Shwari loan limits after refreshing their accounts, with some users claiming they now qualify to borrow more.
On Thursday, October 22, several users shared their experiences online, with one X user, Adele (@Adele_lide), saying her refreshed limit showed that she qualified for a Ksh12,000 loan.
“Almost everyone is being given a loan today,” she wrote.
Other users shared messages showing loan approvals, while some encouraged customers to refresh their limits through the M-PESA menu.
Lenkuna Letela Ledama Jnr posted instructions on Facebook advising customers to dial *334#, select Loans and Savings, choose M-Shwari and then select the option to refresh their limits.
“Your M-Shwari loan has been approved on 22/10/26 12:20 PM, and Ksh5,910.00 less excise duty has been deposited to your M-PESA account,” he posted part of the message.
Another user, Benedict Musyoka Kiluma, also shared similar instructions, telling customers to wait for a confirmation message after completing the process.
How M-Shwari Loan Limits Work
M-Shwari is a savings and loan service that allows M-PESA customers to save money and access credit through their mobile phones.
According to Safaricom, customers can save from Ksh1 and earn interest of up to 6.3% per annum on their savings. Eligible customers can access loans ranging from Ksh100 to Ksh50,000, repayable within one month.
How to Qualify for a Loan
To qualify for an M-Shwari loan, customers must:
- Have been M-PESA subscribers for at least six months.
- Save money through M-Shwari.
- Actively use other Safaricom services, including voice calls, data and M-PESA transactions.
Also Read: How M-Shwari Recovers Loans Borrowed on Recycled Phone Numbers
How to Increase Your M-Shwari Loan Limit
- Save Regularly
Consistently depositing money into an M-Shwari savings account can help demonstrate a customer’s saving habits and may improve their eligibility for a higher loan limit.
- Use M-PESA Frequently
Regularly using M-PESA to send money, pay bills and purchase airtime can contribute to a customer’s activity profile.
- Repay Loans on Time
Repaying M-Shwari loans by the due date can help build a positive repayment history. Customers should also manage their other credit obligations responsibly.
Also Read: Fuliza-Style Lending Explodes as Digital Loans Hit Ksh110 Billion
- Keep Your Safaricom Line Active
Regular use of a registered Safaricom line and M-PESA services can help maintain eligibility for mobile credit products.
How to Refresh Your Loan Limit
Customers can check their M-Shwari loan limits through the M-PESA menu:
- Dial *334#.
- Select Loans and Savings.
- Choose M-Shwari.
- Select the option to refresh the loan limit
- Follow the prompts and wait for confirmation.
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