M-Shwari vs Fuliza vs KCB M-Pesa: Which Safaricom Loan Is Best? (2026)
A comparison of M-Shwari, Fuliza, and KCB M-Pesa loan products available through M-Pesa in Kenya. Covers interest rates, loan limits, repayment terms, and which product suits different borrowing needs.
By PesaMarket Research Team · Last updated February 2026
M-Shwari charges a flat 9% facility fee for 30-day loans up to KES 100,000. Fuliza charges daily fees (KES 2-20/day) as an instant overdraft up to KES 70,000. KCB M-Pesa charges 8.64% for 30-day loans up to KES 150,000 with a 6% negotiation fee.
Quick Comparison: M-Shwari vs Fuliza vs KCB M-Pesa
All three products are accessed through M-Pesa but they work differently. M-Shwari is a traditional loan you apply for and repay in 30 days. Fuliza is an instant overdraft that activates automatically when your M-Pesa balance is too low for a transaction. KCB M-Pesa is a loan product similar to M-Shwari but with higher limits and a negotiation feature.
The right choice depends on how much you need, how quickly you will repay, and whether you want the money upfront or as a safety net.
| Feature | M-Shwari | Fuliza | KCB M-Pesa |
|---|---|---|---|
| Provider | NCBA Bank | NCBA Bank | KCB Bank |
| Type | Term loan | Overdraft | Term loan |
| Interest/Fee | 9% flat (30 days) | KES 2-30/day | 8.64% flat (30 days) |
| Maximum Limit | KES 100,000 | KES 70,000 | KES 150,000 |
| Loan Term | 30 days | Up to 30 days | 30 days (extendable) |
| Disbursement | To M-Pesa (under 1 min) | Instant (during transaction) | To M-Pesa (under 1 min) |
| Negotiation Fee | None | None | 6% for extensions |
| Savings Feature | Yes (6-9% p.a.) | No | Yes (variable) |
| CRB Check | Yes | Soft check | Yes |
| CRB Reporting | Yes | Yes | Yes |
| Access Method | *334# or M-Pesa app | Automatic | *844# or M-Pesa app |
When M-Shwari Is the Best Choice
M-Shwari is best when you need a specific amount for a planned expense and can repay within 30 days. The 9% flat facility fee means you know exactly what you owe from the start. On a KES 10,000 loan, you repay KES 10,900.
M-Shwari also doubles as a savings account earning 6-9% annual interest, which can help you build an emergency fund and increase your loan limit simultaneously.
The main drawback is the 30-day hard deadline. If you cannot repay in full within 30 days, you are listed as defaulting. There is no extension or negotiation option like KCB M-Pesa offers.
M-Shwari is accessed via *334# (select M-Shwari from the menu) or through the Safaricom app under the M-Shwari section. Loan limits depend on your M-Pesa activity and M-Shwari savings history.
When Fuliza Is the Best Choice
Fuliza is best for short-term cash flow gaps that you can cover within hours or a few days. Because it charges daily fees instead of a percentage, Fuliza is the cheapest option when you repay the same day or next day.
For example, if you use KES 5,000 of Fuliza and repay it the same day, you pay only the 1% access fee (KES 50) plus one day's maintenance fee (KES 15), totaling KES 65. The same amount on M-Shwari would cost KES 450 (9%) even if you repay the next day.
However, Fuliza becomes expensive if left outstanding. A KES 5,000 Fuliza balance held for 30 days costs KES 50 access fee plus KES 450 in daily fees (KES 15 x 30), totaling KES 500. That is more expensive than M-Shwari's KES 450 for the same amount and period.
The breakeven point is roughly 25-27 days. If you can repay before then, Fuliza is cheaper. After that, M-Shwari wins.
When KCB M-Pesa Is the Best Choice
KCB M-Pesa is best when you need the highest possible loan amount or may need more than 30 days to repay. It offers the highest maximum limit (KES 150,000) of any M-Pesa-integrated loan product.
The base rate of 8.64% for 30 days is slightly cheaper than M-Shwari's 9%. On a KES 10,000 loan, you repay KES 10,864 instead of KES 10,900.
KCB M-Pesa's unique feature is the negotiation option. If you cannot repay within 30 days, you can request an extension by paying a 6% negotiation fee. This gives you additional time without a CRB default listing. However, the 6% fee on top of the original 8.64% makes the total cost 14.64% if you negotiate, which is significantly more expensive.
Access KCB M-Pesa via *844# or the KCB app. Your limit is based on your M-Pesa activity and KCB M-Pesa savings balance.
Cost Comparison by Amount and Repayment Period
The cheapest option depends entirely on how quickly you repay. Here is a direct cost comparison for a KES 10,000 loan at different repayment speeds.
| Repay Within | M-Shwari Cost | Fuliza Cost | KCB M-Pesa Cost |
|---|---|---|---|
| Same day | KES 900 | KES 120 | KES 864 |
| 3 days | KES 900 | KES 160 | KES 864 |
| 7 days | KES 900 | KES 240 | KES 864 |
| 14 days | KES 900 | KES 380 | KES 864 |
| 21 days | KES 900 | KES 520 | KES 864 |
| 30 days | KES 900 | KES 700 | KES 864 |
| 30+ days (negotiate) | Default/CRB | Default/CRB | KES 1,464 (with 6% fee) |
Frequently Asked Questions
- Which is cheaper, M-Shwari or Fuliza?
- Fuliza is cheaper if you repay within about 25 days. For a KES 10,000 loan repaid in 7 days, Fuliza costs roughly KES 240 while M-Shwari charges the full KES 900. But if you hold the loan for the full 30 days, M-Shwari can be slightly cheaper.
- Can I have M-Shwari, Fuliza, and KCB M-Pesa at the same time?
- Yes. All three are independent products from different banks (M-Shwari and Fuliza from NCBA, KCB M-Pesa from KCB). You can have active balances on all three simultaneously. However, managing multiple debts increases your risk of default.
- Which M-Pesa loan has the highest limit?
- KCB M-Pesa offers the highest limit at KES 150,000. M-Shwari caps at KES 100,000 and Fuliza at KES 70,000. However, reaching maximum limits on any of these requires extensive M-Pesa activity and perfect repayment history.
- What happens if I do not repay M-Shwari in 30 days?
- After 30 days, NCBA reports the default to CRB, which negatively affects your credit score. Your M-Shwari and Fuliza limits may be reduced or suspended. NCBA will attempt to recover the amount from your M-Pesa and M-Shwari savings balances.
- Does saving on M-Shwari increase my KCB M-Pesa limit?
- No. M-Shwari savings only affect your M-Shwari and Fuliza limits (both underwritten by NCBA). KCB M-Pesa limits are based on your M-Pesa transaction history and KCB M-Pesa savings. The two banks operate independently.
Compare Financial Products
Find the best rates and lowest fees from licensed Kenyan lenders.
Compare Loans