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NCBA Bank Kenya PLC

M-Shwari Loan

App loan

Costs you
120% a year
on KES 5,000 for 30 days

A short loan from NCBA Bank, sent to your M-PESA. You can borrow from KES 100 up to KES 50,000 and pay it back within a month.

Hear when this changes

If you borrow KES 5,000 for 30 days

You receive
KES 4,550
It costs you
KES 450
You repay
KES 5,000
As a yearly rate

120% a year

Worked out from the charges above. Lenders quote these in days and weeks, where a fee looks small; this is the same price said in the units a bank or a SACCO would use, so you can compare them.

  • · Based on borrowing KES 5,000 for 30 days.
  • · KES 450 is taken before the money reaches you, so the rate is worked out on what you actually receive.
  • · The yearly rate is the cost scaled to a year, not compounded. Rolling the loan over repeatedly costs more than this.
  • · This assumes you repay on time. Late fees are extra and are listed above.
  • · Worked out from the company's own published figures.

The details that matter for this kind of plan

What you can borrow
KES 100 to KES 50,000
Total charge
9% of the loan, once
Who lends it
NCBA Bank, through M-PESA

What does it cost you?

Government duty on the feethe loan1.5%
Fee for arranging the loanthe loan7.5%

What if you stop paying?

The loan is not written off. NCBA can add a late fee and report you to a credit bureau. That makes it harder to borrow again.

What if you need the money early?

You can pay it back sooner. The 9% is charged when the money is sent, so paying early gives none of it back.

Who this suits

It could work for you if

You need a small sum for a few weeks and you can pay it back on time.

Think twice if

You need money for months. The charge is set for one month, so taking it again and again costs a lot.

What they tell you

  • Are all their charges published?
    Yes, every charge they mention has a figure against it.

Talk to them

Compared with the others

There are 3 other plans of this kind on the board. See all 4 side by side — what each one leaves you with, and which of them will not say.

Where we got this