How To Open M-Shwari Lock Savings Account

M-Shwari is a loan and savings service offered by safaricom which enables m-pesa customers to save as little as ksh1 and also access credit from Ksh 1000.

M-Shwari customers earn interest of up to 6.3% p.a depending on one’s savings. M-shwari has changed the lives of millions of Kenyans for many years. M-shwari account is a financial service that m-pesa customers can access directly through the m-pesa menu on their phones, customers can enjoy free transfer of funds between m-shwari and m-pesa.

M-Pesa customers can operate M-Shwari banking service through their phones, accessing M-Pesa without filling any paperwork, have the ability to transact in and out from M-Shwari account to M-Pesa account with no charges. It also enables customers to access micro credit as less as ksh100 and receive loan instantly to M-Pesa.

Customers who qualify for M-Shwari loan must be an M-Pesa subscriber for at least for 6 months save on M-Shwari and have an active safaricom service like data, voice, M-pesa


Lock saving account is a savings account that allows M-Shwari customers to save a certain amount on specified time .

Customers who have a lock saving account, the funds saved will be kept in the account until the date the customers agreed to withdraw the savings. This date is determined by the customer on the account, which ranges between 1-12 months where the customer can make micro deposit.

Entrepreneurs and business people find it ideal to use M-Shwari lock saving account due to higher interest rates and their funds are secure and safe. M-Shwari customers enjoy no charges on any transaction on M-Shwari lock saving account and constant interest rates in the investment period, interest  is earned daily but paid monthly  into the lock saving account’

Mshwari customers can follow simple steps, to open lock saving account;

  • Go to M-Pesa menu
  • Click on loans and services
  • Choose M-Shwari
  • Click lock saving account
  • Go to open account
  • Select either  from M-Shwari or M-Pesa
  • Continue to set target amount and period
  • Make the first deposit  either from M-Shwari or M-Pesa to activate the lock saving account’
  • You will receive a notification via sms.


Safaricom has offered its customers an application which can be used to access the safaricom menu. Customers are provided with easy and efficient ways to access safaricom products and services under one roof. My safaricom app offers customers with new features and a wide experience. Features that the app offers;

  1. Shortcut to favorite
  2. Scan scratch card to top up
  3. Share M-Pesa transaction
  4. Access your daily digital newspaper with superior customer experience

Customers can get this app on their phones by downloading the app from either play store or apple store. How customers can open m-shwari lock saving account by using my safaricom app;

  • Open the app on your phone
  • Go  to M-Pesa menu
  • Select loan and savings
  • Choose M-Shwari
  • Select lock and saving account
  • Open account
  • Select to save from M-Pesa or M-Shwari
  • Enter time period between 1-6 months
  • Enter amount you wish to save
  • Customers will get a notification on the app.

M-Shwari customers will receive a notification sms from M-Shwari information upon maturity regarding the funds saved and interest earned thus they should transfer their funds from M-Shwari to mpesa then continue with the withdrawal process.

Additionally, customers can withdraw their savings from the m-shwari lock saving account even before the agreed date. Customers will receive the requested amount after 48 hours, also the customer can decide to withdraw the entire savings in the account.

M-Shwari customers have found it convenient and efficient to work with M-Shwari with their phones using mobile banking, where customers can transfer funds from the comfort of their time and location.

Categories: General

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