How to Fuliza : Fuliza Loan
Sometimes things get tough and you may be having an emergency that needs to be dealt with instantly. The situation may require cash and sometimes you may not have the required amount. In this article, I will guide you on How to Fuliza.
Safaricom offers quick loans. They understand many people may in a situation where a quick loan is needed. This service offered by Safaricom is commonly known as Fuliza Loan.
Fuliza Loan
Fuliza loan is an option offered by Safaricom which can allow you to make a few Mpesa transactions even if your Mpesa balance is less or maybe you got no Mpesa balance in your account. The limit offered is determined by how active an individual is.
In other words, Fuliza loan is what we can term as an overdraft. The loan is indirectly offered by NCBA bank through the Safaricom M-Pesa platform.
What it takes to access Fuliza loan
first of all, you should have a Safaricom line. This line should be more than 6 months old. This means you can’t access Fuliza Loan immediately after purchasing a Safaricom Line. You should also be an M-Pesa member meaning you must be registered as an M-Pesa user.
To access this Safaricom service, you are required to dial *234#. If you have downloaded an M-Pesa app, it will be more simple since the option is available in the app.
Loan repayment
After being offered a loan, you will be required to pay. This is done automatically by Safaricom. If someone sends money via your M-Pesa account, the loan will be deducted automatically.
Like any other business, Safaricom aim is to make a profit. After receiving your loan, you are supposed to repay it with some charges of 1%. Remember the normal M-Pesa transaction cost also applies.
Important points to Note about Fuliza Loan
The more you use this service, the higher the limit of your Fuliza. The problem with a lot of Kenya is that they usually like borrowing money but it becomes difficult for them to pay it back. Remember Safaricom got all your details. Buying another Safaricom line to avoid paying a loan won’t help.
Remember you can’t withdraw Fuliza Loan. All you can do is either use it on Lipa an M-Pesa outlet or send it to a registered or unregistered M-Pesa user.
Am sure now you understand more about How to Fuliza and the steps to follow when applying for a Fuliza Loan. Remember to repay your loan on time to increase your loan Limit