Mobile Loan Calculator Kenya: True Cost of M-Shwari, KCB M-Pesa and Hustler Fund
Find out what a mobile loan costs before you accept it, and how its fee compares with a bank's yearly rate.
Rates checked 10 Nov 2026 against official sources (listed below).
7.5% loan fee plus 1.5% excise duty (20% of the fee). The excise comes off what you receive, and the 7.5% is added to what you repay. Miss the 30 days and another 7.5% is charged.
You repay in 30 days
KES 5,450
Cost of the loan
KES 450
Same cost over a month
9%
Same cost over a year
110%
Every loan here for KES 5,000
Cheapest first. The yearly figure lets you compare a 14-day or 30-day loan with a bank loan.
| Loan | Term | Cost | A year |
|---|---|---|---|
| Hustler Fund (14 days) | 14 days | KES 15 | 8% |
| KCB M-Pesa (1 month) | 30 days | KES 447 | 109% |
| M-Shwari (30 days) | 30 days | KES 450 | 110% |
Costs assume you repay on the due date. Late fees, rollovers and penalties are extra. The 'a year' figure is the loan's cost scaled to 365 days with no compounding, so you can compare a 14-day or 30-day loan with a bank loan's yearly rate.
About this calculator
Pick M-Shwari, KCB M-Pesa or the Hustler Fund, or type in the fee any other app quotes you.
How it's worked out
Choose a loan and enter the amount. The calculator adds the lender's fee or interest for the loan's term and shows what you repay. It then scales that cost to a month and to a year. A 9% fee for 30 days sounds small, but over a year it adds up to about 110%. A bank personal loan usually charges a fraction of that.
The fees loaded in come from each lender's own pages:
- M-Shwari: "A one-time fee of 7.5% is levied for each loan", due 30 days after you borrow, with another fee if it's still unpaid after that (NCBA). Excise duty of 20% is charged on the fee, which adds 1.5% of the loan (Business Daily).
- KCB M-Pesa: 8.93% for the one-month loan, as Safaricom lists it in its KCB M-Pesa FAQ. KCB's own product page shows a slightly lower 8.80% and a KES 1,000 minimum.
- Hustler Fund: 8% a year, worked out daily, repaid in 14 days, with 5% of each loan going into your savings, and 9.5% a year if you pay late (Hustler Fund).
Fuliza works differently. It charges a 1% access fee and then a daily fee for as long as you owe, so the cost depends on how many days you take. See how Fuliza charges work for the daily bands.
Another app? Choose "Another app" and enter the total fee it quotes and the number of days. If the app is quoting you a figure that works out at more than 100% a year, it's worth checking whether the lender is on the CBK's licensed list first. See which loan apps are licensed in Kenya.
Frequently asked questions
Which mobile loan is cheapest in Kenya?
Of the three loaded here, the Hustler Fund, by a long way. Its 8% is a yearly rate, so a KSh 5,000 loan for 14 days costs about KSh 15. The same amount on M-Shwari costs KSh 450 (9%), and on KCB M-Pesa about KSh 447 (8.93%).
How much does a KSh 10,000 M-Shwari loan cost?
KSh 900 if you repay within 30 days: KSh 750 loan fee plus KSh 150 excise duty. The excise is deducted up front, so you receive KSh 9,850 and repay KSh 10,750.
Is a 9% loan fee the same as 9% interest?
No. A bank quotes interest per year. The 9% on a mobile loan is for 30 days. Borrow like that every month and you'd pay around 110% of the amount over a year.
What happens if I repay late?
M-Shwari adds another 7.5% fee once the loan passes 30 days. The Hustler Fund's rate rises to 9.5% a year. Late repayment also lowers your limit and can get you listed with a credit reference bureau.
Why does the calculator say "a year" when my loan is only 30 days?
So you can compare loans fairly. Scaling the cost to a year shows how expensive a short loan is next to a bank loan, a SACCO loan or the Hustler Fund.
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