Safaricom has unveiled M-Shari Smart Loan, a loaning facility that allows M-Shwari customers to purchase their preferred Smartphone or Tablet and pay in six monthly installments.
You will through the M-Shari Smart Loan facility, be able to purchase any of your preferred Smartphone/Tablet from Safaricom Shops countrywide.
![[image] Safarciom M-SHWARI Smart Loan](https://mobitrends.co.ke/wp-content/uploads/2014/12/image-Safarciom-M-SHWARI-Smart-Loan.png)
Accessing M-Shari Smart Loan
DIAL *234*6#, then select the Smart Loan option. You will be required to accept the Smart Loan Terms and condition before proceeding. Soon thereafter, you will receive a confirmation text, giving you the green light to proceed with your M-shwari Smart Loan Application.
Applying for the Loan
The confirmatory text will provide your Smart Loan limit and this will guide you on which device to choose.
There is a wide range of devices to choose from starting from the LG L1 E410 (ksh 876 per month) to the Samsung Galaxy Note 4 (Ksh 8,333 per month).
Safaricom will require you to place a minimum of 30% of the purchase price of the Smartphone as the down payment for the Smart Loan. This will be required for your loan application to be accepted.
You will, thereafter, head to your nearest Safaricom shop to confirm the availability of the device.
Related: Safaricom opens a ‘Platinum’ Store at the Sarit Centre
If the device is available and everything checks out fine you will proceed to take the M-Shwari Smart Loan.
M-Shwari Smart Loan Requirements
Your M-Shwari Smart Loan is subject to a borrower fee of 15.6%, but is free from any loan processing fees and interest charges during the term of the loan.
The minimum Smart loan amount is Kshs. 1,000 while the maximum is Kshs. 50,000. M-Swari Smart Loan customers are only eligible for one Smart Loan at a time.
The M-Shwari Smart Loan balance will then be repayable in six fixed monthly installments. You can check the balance of your Smart Loan by dialing *234*6# > Smart Loan > Check Balance
M-Shwari Smart Loan Payment
Payment of the loan is done via dialing dialing *234*6# > Smart Loan > Pay Loan
You will still be required to make the Smart Loan payment, even when the Smartphone/Tablet purchased gets damaged or stolen.
You can choose to make a lump sum repayment of the M-Shwari Smart Loan before the due date.
Next: Facts about Safaricom’s Advanced 4G LTE Network
Kevin is a tech enthusiast and the lead writer at MobiTrends.co.ke. He has been writing about smartphones and tech related topics since October 2012. About Us | Contact Us
