M-Shwari Lock
Savings account

M-Shwari is a savings and loan service that enables M-PESA customers to;

• Save as little as Kshs. 1, and access credit from Kshs. 1,000.
• Earn interest of up to 6.3% p.a. on your savings balance.
• Save for a fixed period of time
• Access loans instantly, credited to your M-PESA account from a minimum of Kshs. 1,000 and up to Kshs. 1million account charged at 9% Being Loan Fees of 7.5% and 1.5% Excise Duty. Excise duty is deducted from the loan amount to be sent to M-PESA

KCB M-PESA is a savings and loan service that enables M-PESA customers to;

• Save as little as Kshs. 1, and access credit from Kshs. 1000.
• Earn interest of up to 6.3% p.a. on your saving balance.
• Save for a fixed period of time
• Access loans instantly, credited to your M-PESA account from a minimum Kes 1000 and up to Kes 1million charged a facility fee of 8.64% being Loan fees of 7.35% and 1.29% Excise duty

Fuliza is a continuous overdraft service that allows Safaricom’s M-PESA customers to complete their M-PESA transactions even when they do not have enough funds in their M-PESA account.

This is a saving program that aims at cultivating a saving culture among Kenyans through the easy to use M-Shwari service. 

The aim is to reach the achievable amount of KSHs.68,900 by spreading it throughout the year. This makes it easier for you as the saving amount increases gradually.

This is the first Shari’ah compliant, digital financing product powered by MPESA in partnership with Gulf African Bank Ltd. Currently, it is a financing product only and does not have saving, which will be introduced later.