M-Shwari vs Branch: the short answer
Updated 27 September 2026. Every figure below links to NCBA, Safaricom or Branch.
M-Shwari vs Branch isn't really a like-for-like choice. M-Shwari is a 30-day loan from NCBA Bank inside your M-PESA menu, at a fixed 9% all-in. Branch is an app loan from a microfinance bank that runs 62 days to a year, priced anywhere from 20% to 211% APR plus a 6% processing fee.
If you need money for a month or less, M-Shwari is the one built for it. If you need more than KSh 50,000, or more than two months, only Branch offers that.
We rewrote this comparison in September 2026. The old version said Branch lends KSh 250 to 70,000 over 4 to 68 weeks at "3% to 15%", and that M-Shwari savings earn 6% to 9% a year. None of that matches what the lenders publish today.
Quick comparison
| Feature | M-Shwari | Branch |
|---|---|---|
| Lender | NCBA Bank Kenya, with Safaricom | Branch Microfinance Bank Ltd (CBK microfinance bank); app published by Branch International Financial Services Ltd |
| Price | 7.5% facility fee per loan plus 20% excise on the fee: 9% in all | APR 20% to 211% (2% to 18% a month) plus a 6% processing fee |
| Amount (KSh) | 100 to 50,000 | 1,000 to 300,000 (listing also says "from Ksh 500") |
| Term | 30 days | 62 days to 1 year |
| If you're late | Unpaid principal rolls over on day 31 with another 7.5% plus excise; negative CRB listing at 120 days after a 30-day notice | Not published ("some customers may incur late bank fees") |
| Savings | M-Shwari savings and Lock Savings accounts | Branch Wallet, rate not published |
| Source, as of | NCBA Key Facts, 8 Mar 2024; Safaricom M-Shwari page, 28 May 2024 | Google Play, 8 Sep 2026 |
How M-Shwari works
M-Shwari sits in the M-PESA menu under Loans and Savings, so there's no app to install. NCBA's Key Facts Document (revised 8 March 2024) sets the terms: a 7.5% facility fee on each loan, a 30-day term, limits from KSh 100 to KSh 50,000, and a limit review every 90 days.
Excise duty of 20% applies to the fee, which is 1.5% of the loan. Safaricom's page puts the total at 9%. The excise comes off the payout, so a KSh 1,000 loan puts KSh 985 in your M-PESA and you repay KSh 1,075 (NCBA excise FAQ).
Late payment follows a published timetable. Principal still unpaid on day 31 rolls over with another 7.5% fee plus excise. Your savings are locked after 30 days overdue and debited on day 61, and a negative CRB listing follows at 120 days, after 30 days' notice.
How Branch works
Branch is an app. Its Google Play listing (updated 8 September 2026) prices loans at an APR of 20% to 211%, or 2% to 18% a month "depending on your risk profile", plus a processing fee of 6% of the principal. Amounts run from KSh 1,000 to KSh 300,000, and terms from 62 days to one year.
The licensed lender is Branch Microfinance Bank Limited, which is in CBK's February 2026 microfinance bank directory. The app's publisher, Branch International Financial Services Limited, isn't in CBK's digital lender directory, and the listing doesn't say which company lends. Check the name on your loan agreement. Our Branch loan review covers this in more detail.
M-Shwari vs Branch cost: KSh 10,000
| Scenario | M-Shwari, 30 days | Branch, 62 days at 20% APR | Branch, 62 days at 196% APR |
|---|---|---|---|
| Interest or fee | KSh 750 fee | About KSh 340 interest | KSh 3,260 interest |
| Excise or processing fee | KSh 150 excise | KSh 600 (6%) | KSh 600 (6%) |
| Total cost | KSh 900 | About KSh 940 | KSh 3,860 |
The M-Shwari column uses NCBA's published terms. The 196% Branch column is Branch's own example plus its 6% fee; the 20% column is our arithmetic at the bottom of Branch's range.
Look at the terms, not only the totals. M-Shwari's KSh 900 buys 30 days; Branch's cheapest case buys 62 days for about the same money. But Branch doesn't publish who gets its lowest rate, so you only find out on the offer screen.
How limits grow on each
Safaricom's M-Shwari page lists three ways to qualify for a loan: be an M-PESA subscriber for at least 6 months, save on M-Shwari, and actively use other Safaricom services such as voice, data and M-PESA. NCBA reviews the limit every 90 days. Saving in M-Shwari is therefore something Safaricom itself names, though neither Safaricom nor NCBA publishes how much a given balance adds to your limit.
Branch says one thing: "Pay your loans on time to increase your loan limit and loan size." It doesn't publish a starting limit or how fast limits grow.
One link between the two worth knowing: Fuliza's terms (1 July 2026) let the lenders use your M-Shwari repayment history when setting your Fuliza limit. A late M-Shwari loan can cost you twice. Details are in our Fuliza vs M-Shwari vs KCB M-PESA comparison.
When to use M-Shwari
- You need up to KSh 50,000 and can repay within 30 days.
- You want the cost fixed before you borrow: 9%.
- You want published late-payment and CRB rules.
When to use Branch
- You need more than KSh 50,000, up to KSh 300,000.
- You need longer than a month; Branch's shortest term is 62 days.
- You've seen the offer screen and the rate is near the bottom of Branch's range.
M-Shwari vs Branch: the bottom line
For most people borrowing for a month, M-Shwari is simpler and its price is certain. Branch makes sense for bigger or longer loans, as long as the offer you get is close to its 20% end. At 196% APR, the same KSh 10,000 costs more than four times as much, though for twice the term.
For all 12 app lenders side by side, see best loan apps in Kenya 2026. If you'd rather compare quickly for today's need, try Money Now.
Sources
All accessed 27 September 2026.
- NCBA, M-Shwari Key Facts Document, revised 8 March 2024: 7.5% fee, 30-day term, KSh 100 to 50,000, 90-day limit review, rollover, CRB listing at 120 days.
- Safaricom, M-Shwari page, last updated 28 May 2024: 9% total, how to qualify for a loan, Lock Savings.
- NCBA, excise duty collection FAQ, undated (file dated February 2025): excise deducted at payout.
- Branch, Google Play listing, updated 8 September 2026: APR, monthly interest, 6% fee, amount, term, example, limit sentence, Branch Wallet.
- Central Bank of Kenya, Directory of Licensed Microfinance Banks, February 2026.
- Safaricom, Fuliza terms and conditions, last updated 1 July 2026: clause 8.