Many people worry about what happens to their M‑Shwari loan if they change their phone number or inherit a recycled line. The truth is simple: your loan responsibility is tied to your national ID, not your phone number.
How Loan Recovery Works
- Loans are managed at ID level
Every loan is linked to the ID used during registration. Your phone number is only a contact point. - Phone numbers follow the ID
If you default and later register a new line under the same ID, recovery can still happen through that line or any accounts tied to your ID. - Recycled numbers are safe
If you get a number that once belonged to someone else, you won’t inherit their debt. Defaults remain with the original borrower’s ID. - CRB listings are ID‑based
Missed payments or defaults are reported against your ID, not your phone number. - Bank’s right of lien
NCBA can recover outstanding loans from any account linked to your ID. - Check your registered lines
Dial *106# to see which numbers are connected to your ID.
What Is M‑Shwari?
M‑Shwari is a mobile banking service by NCBA Bank and Safaricom. The name comes from the Swahili word shwari, meaning “to make better.” It’s designed to make saving and borrowing simple, all through your phone. No paperwork, no branch visits.
If you are an M‑PESA user, you can open an M‑Shwari account directly from your handset and start saving or borrowing instantly.
Saving with M‑Shwari
- Deposit Account
Save without minimum balances or transfer charges. Deposits earn interest at 7.35% per year. - Lock Savings Account
Save for a specific goal and lock funds for 1–12 months. Interest rates range from 3% to 6% per year, depending on the amount saved.
Borrowing with M‑Shwari
- Loans attract a one‑time fee of 7.5%.
- To qualify, you need to:
- Be an M‑PESA subscriber for at least 6 months.
- Save regularly on M‑Shwari.
- Actively use Safaricom services (voice, data, M‑PESA).
Your loan limit depends on your saving and usage behavior. You can check it directly under the M‑Shwari menu.
The key point is clear: your loan responsibility follows your ID, not your phone number. This protects new users of recycled numbers and ensures accountability stays with the actual borrower.
So if you are planning to save or borrow with M‑Shwari, remember:
- Keep track of your ID‑linked accounts.
- Use *106# to confirm your registered lines.
- Build a positive credit history by saving and repaying on time.
