February 1, 2024

Mobile Loans offered by Safaricom

1. Fuliza
Fuliza is an on-going overdraft service available for Safaricom’s M-PESA customers for them to be able to complete their M-PESA transactions even when they do not have enough funds in their M-PESA account. For you to be able to enjoy Fuliza M-PESA services you need to be registered on M-PESA with an active Safaricom M-PESA line. You will need to choose to opt into the Fuliza service to enjoy the service.
 You need to be an M-PESA customer registered using your national ID/Kenyan passport/Military ID and you can easily activate Fuliza but not everyone is eligible for a loan limit upon activation.
 If your M-PESA account has been registered using Foreign passport you then cannot successfully opt-in to Fuliza.
 Upon opting in, you will be given a limit that defines the maximum amount of overdraft you can access.
How to OPT in to FULIZA
 Dial *334#
 Select Loans and Savings and then Select FULIZA
 OPT in
What is great about FULIZA
 You can easily request for Fuliza as many times as you want as long as it is within your allocated limit.
 You will be able to Send Money to both registered and unregistered customers even without having enough money in your account.
 You can pay even using Lipa Na M-PESA both Buy goods and Paybill number.
 You can also Buy airtime for yourself and other via the USSD or the M-PESA APP
Fuliza limit
 Fuliza limit is given upon activation by you, who has been active on the network for at least 6 Months based on your line’s activity.
 To grow your Fuliza limit, you need to continue using Safaricom and M-PESA services and ensure you repay your Fuliza loan facility on time by frequently toping up your M-PESA account.
 Beware that if you have been on Safaricom network for less than 6 months you will have a ZERO LIMIT.
Note: Fuliza limit can change (upwards or downwards) depending on your usage and timely repayment of the facility.
Fuliza Charges
 You will be charged a one off 1% access fee and then a daily maintenance fee is applied the next day at midnight or 00.00 hrs.
 You will also be charged 20% excise duty on the accessible fee. That means as a person who uses Fuliza and repays before the next day at 00.00hrs you will only pay the access fee and a maintenance on the outstanding amount.

2. Mshwari
M-Shwari is a savings and loan service that enables you as an M-PESA customer to;
 Save as little as Kshs. 1, and access credit from Kshs. 1,000.
 Earn interest of up to 6.3% p.a. on your savings balance.
 Save for a fixed period of time
 Access loans instantly, credited to your M-PESA account from a minimum of Kshs. 1,000 and up to Kshs. 1million and the account is charged at 9% Being Loan Fees of 7.5% and 1.5% Excise Duty. Excise duty is deducted from the loan amount that is sent to M-PESA
How you qualify for a loan
 Be an active M-PESA subscriber for at least 6 months
 Save on M-Shwari as much as you can
 Actively make sure you use other Safaricom services such as voice, data and M-PESA.
What should I expect when I borrow?
 Access of loan limits from as low as Ksh.100 and up to Ksh. 50,000.
 Enjoy a month as the repayment period.
 Loan repayment can be made either via M-PESA, or from the M-Shwari account.
How does it work?
 Go to the M-PESA menu.
 Select Loans and Savings.
 Select M-Shwari.
 Select Loan.
 Request Loan.
 Enter amount.
 Enter your M-PESA PIN number
 Your loan amount will be sent to your M-PESA Account. The loan amount you will pay will be inclusive of the facility fee.

3. KCB Mpesa Loans
KCB M-PESA is a loans and savings product that is exclusively offered by KCB Bank Kenya Ltd to Safaricom M-PESA customers.
Questions regarding the loans available from KCB bank to the Safaricom Users
1. What are the requirements to have a KCB M-PESA account?
 Just be a registered and active Safaricom M-PESA customer.
2. How do I deposit or withdraw money into or out of the KCB M-PESA Account?
 Money in and out of the KCB M-PESA Account is done through M-PESA.
How to deposit money from M-PESA
 Go to the KCB M-PESA menu.
 Select Deposit from M-PESA.
 Enter the amount.
 Enter your M-PESA PIN number.
 Confirm you want to deposit.
 Your M-PESA will be deducted, and your KCB M-PESA Account credited with the amount
How to withdraw money to M-PESA
 Go to the KCB M-PESA menu.
 Select Withdraw to M-PESA.
 Enter the amount.
 Enter M-PESA PIN number.
 Confirm you want to withdraw.
 Your KCB M-PESA Account will be deducted, and your M-PESA Account credited with the amount
3. How do I check my KCB M-PESA account balance?
 Go to the KCB M-PESA menu
 Select My Account
 You can either check your account balance or request for a Mini Statement.
4. How do I check my KCB M-PESA loan limit?
 Go to the M-PESA menu
 Select Loans and Savings
 Select KCB M-PESA
 Select Loan
 Select Check Loan Limit.
5. What is the fee charged on a KCB M-PESA loan?
 The cost for the one-month loan is 8.93%.
6. How do I borrow a KCB M-PESA loan?
 Go to M-PESA menu
 Select Loans and Savings
 Select KCB M-PESA
 Select Request Loan
 Enter Amount & follow instructions to complete
7. How do I pay my KCB M-PESA loan?
Using the Safaricom Toolkit
 Go to M-PESA menu
 Select Loans and Savings
 Select KCB M-PESA
 Select Pay Loan
 Select to pay from M-PESA or from your KCB M-PESA Account
 Enter amount & follow instructions to complete.
Using the M-PESA Paybill 522559
 Go to M-PESA menu
 Select Lipa na M-PESA
 Select Paybill & Enter Business & enter 522559 as the Business Number
 Select Account no. & enter “your ID number e.g. 12345678’’
 Enter amount & follow the instructions to complete
8. I cannot access a KCB M-PESA loan. What are some of the reasons for this?
 You have been listed with the Credit Reference Bureau.
 You already have an existing KCB M-PESA loan.
 You have a low credit rating.
 Late repayment of a previous loan thus you have been blacklisted.
9. How do I grow my loan limit?
 Increase activity on your KCB M-PESA account by moving money in and out of your account.
 Increase savings on your KCB M-PESA account.
 Increase usage of M-PESA services.
 Early and promptly repaying your KCB M-PESA loans

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