Over the years, popular mobile savings and loan service, M-Shwari, has become an essential financial tool for many Kenyans.
However, one common concern among users is the inability to access higher loan limits.
In this article, WoK seeks to explore various strategies you can employ to boost your M-Shwari loan limit and unlock greater borrowing potential.
Credit history
M-Shwari assesses your creditworthiness by analyzing your financial behavior and history.
Should you have infrequently utilized M-PESA services or possess an inadequate credit history, it is possible that you may be assigned a zero loan limit.
The evaluation process is based on your transaction history and repayment patterns to determine risk.
Account standing
Should you encounter problems with your M-PESA account, including outstanding disputes or a suspended status, this may impact your loan limit.
It is essential to maintain your account in good standing and ensure that all required documents and information are current.
Policy changes
The lending policies and criteria of M-Shwari are subject to change.
Occasionally, modifications or updates to these policies may lead to temporary alterations in loan limits for certain users.
Eligibility criteria
M-Shwari uses a particular criteria to establish loan limits, which encompass factors such as age, income level, and various financial indicators.
Should you fail to satisfy these criteria, your loan limit may be set at zero.
Loan repayment history
In the event that you have a history of defaulting on loans or postponing repayments, M-Shwari may impose a zero limit to reduce the risk of additional defaults.
It is essential to make consistent and timely repayments in order to gradually increase your loan limit.
Account activity
A lack of activity in your M-PESA account or infrequent usage may result in a zero loan limit.
Engaging in regular transactions and ensuring a consistent flow of income and expenditures reflect financial stability, which can enhance your eligibility for a loan.
