In the unfortunate event that you do not make timely payments, we will transfer your details to the Credit Reference Bureau that may make you unable to access facilities from other lenders.
You can either opt to make the full payment by paying the total amount outstanding, or you can make a partial payment. When you make a partial payment it will reduce the principal amount meaning that you will end up paying less interest on your loan at the end of the term.
Monthly loan repayments – Monthly loan repayments will automatically be collected from your Stawi Current Account (just ensure it has enough money to cover the installment)
Manual loan repayment - You can always make a full or partial pre-payment on your Loan. This will be done through the app. Once you have logged in go to MANAGE then click MY STAWI ACCOUNT click PAY LOAN proceed to enter the amount and then complete the payment.
Yes you can. The app has a loan schedule that shows number of payments, repayment dates, principal & interest amount due every month and total outstanding loan amount as at the time of making the enquiry. To view the loan schedule go to MY LOANS then click LOAN SCHEDULE.
No. The loan can only be applied through the mobile app.
If you borrow a loan of KES 10,000, the Interest Rate on the loan will be 9% p.a. The fees breakdown will be as follows:
|Facility Fee (2% of Loan Amount)||KES 200.00|
|Credit Life Insurance (0.7% of Loan Amount)||KES 70.00|
|Excise Duty (10% of Facility fee)||KES 20.00|
|TOTAL FEES||KES 290.00|
The loan tenor is from 1 month to 12 months
You can view the amount you qualify to borrow on the app. Once you log in, click on MY LOANS, from the screen you will be able to see your eligible loan limit. Your loan limit is all data driven and is fully dependent on your Stawi Activity as well as your credit history.
When you request for a loan, we will receive your request and immediately extend an offer to you for consideration and acceptance. This offer will only be valid for 7 days after which it will expire and you will have to initiate another request for a loan via the app.
Log in to the app then go to MY LOAN and click REQUEST LOAN. Proceed to make the application. You will be required to ACCEPT the loan offer to facilitate disbursement of the loan. If you REJECT the loan offer then disbursement will not be done.
It is quite simple; Your Business should have been in operation for at least 6 months with a monthly turnover between KES 30,000 up to KES 250,000 and bear the traits mentioned under who can benefit from Stawi.
As soon as you register onto Stawi, you will receive a limit based on your credit history.
If you do not get a loan limit immediately, do not worry, simply make Stawi your primary account. Deposit all your business earnings and make all your payments through Stawi. After 3 months we will present a loan offer to you.
Yes you can. Go to MANAGE then click MANAGE BENEFICIARY and existing beneficiaries will be listed. Click on the cross i.e. “X” adjacent to the beneficiary and confirm.
The app allows you to create and store beneficiaries when making a payment to M-PESA or to a bank via Pesalink. Each mode of transfer will have a corresponding beneficiary. When creating a beneficiary you will go to MANAGE then click MANAGE BENEFICIARY and then ADD BENEFICIARY. You will then select the type of beneficiary to create i.e. M-PESA or PESALINK.
This is the entity (individual or business) to whom a payment or transfer is to be made to.
The OTP (one time password) is a 4 digit code that is sent via SMS for verification when making transactions, loan applications, resetting PIN and during registration. By default the OTP will be entered automatically without the need of you typing it manually. If you don’t get the OTP click RESEND and a new one will be sent.
Yes you can. Log in to the app then click MANAGE menu. Then click MY USER PROFILE then the USER PROFILE screen will load. Enter the details in the fields that can be edited/changed and proceed to SUBMIT.
On the landing page click FORGOT PIN then enter the details you provided during registration and your preferred new PIN then click NEXT. A OTP (One Time Password containing 4 digits) will be sent on SMS. Click VERIFY and the new login PIN will be reset successfully “You have successfully reset your login PIN”. You will be redirected to log in screen where you will now log in using the new PIN.
Click the gear icon at the top right corner on the screen and log out.
Registration is simple. Download the Stawi app from the Google play store to your Android device. Click OPEN YOUR ACCOUNT to register and proceed to enter your details. You will need to provide your mobile number, identification (Kenyan ID, Valid Kenyan passport, Alien ID), valid business permit/license and valid email address to create an account.
The app allows you to confirm the recipient details before committing. To avoid sending funds to the wrong recipient please verify the transaction details are correct before committing.
This will depend with on the mode of transfer.
Sending money via M-PESA: Min KES 100 Max KES 70,000 per transaction.
Sending money via Pesalink: Min KES 100 Max KES 999,999
Sending money via M-PESA will cost a flat fee of Ksh 42 despite the amount. We will advise on the applicable costs to send money via Pesalink once the service is available.
Yes you will be able to receive money from a bank through Pesalink, RTGS and EFT. To facilitate a transfer to your Stawi account funds should be sent to the below bank:
Bank Name: Commercial Bank of Africa
Swift Code: CBAFKENX
Bank Code: 07
Branch Code: 001
Yes. You can send money to a mobile number registered on M-PESA. You will also be able to send money to a bank via Pesalink once this has been made functional.
Yes you can receive money in your account through M-PESA paybill number 796101. See below steps when sending money from M-PESA to STAWI:
- M-PESA Menu
- LIPA NA M-PESA
- PAY BILL
- ENTER BUSINESS NUMBER i.e. 796101
- ACCOUNT NO. i.e. enter STAWI account number
- ENTER AMOUNT
- ENTER M-PESA PIN then proceed to complete the transaction