Afrigather 
To assist its M-PESA clients make purchases once they don’t have the funds for of their account, Safaricom presents a steady overdraft service referred to as FULIZA. The FULIZA’s M-PESA overdraft service is offered to clients who’re registered M-PESA customers with a legitimate Safaricom M-PESA line. And with a purpose to make use of the overdraft service, clients should opt-in. Right here, we’ll cowl tips on how to faucet into the FULIZA mortgage M-Pesa function.
Eligibility for FULIZA
Please word the next eligibility factors for the overdraft service:
- Whereas anybody who has activated M-PESA with a nationwide ID, Kenyan passport, or Navy ID can use FULIZA, not everybody who prompts FULIZA will probably be permitted for a mortgage instantly.
- Accounts on M-PESA created with a non-Kenya passport won’t be able to activate the overdraft service.
- After signing up, you’ll be given a restrict that determines how a lot of an overdraft you’ll be able to entry.
Accessing FULIZA
Comply with these steps to get began with the mortgage service:
- Dial *334#/*234#
- Choose Loans and Financial savings then navigate to FULIZA
- Decide-in to entry the quantity restrict you could have been given.
Different notes concerning the mortgage service
Listed here are different factors to remember relating to FULIZA:
- So long as it doesn’t go over their allotted quantity, clients could make as many FULIZA mortgage requests as they like.
- A consumer can ship funds to each verified and unverified recipients from the mortgage.
- Prospects utilizing the mortgage function can use it to pay to Lipa Na M-PESA, buy goods and paybill, buy airtime for themselves and different through USSD or M-PESA APP
- There’s an preliminary 1% entry value, after which a every day upkeep charge of 1% starting at 00.00 hours the subsequent day.
- The entry value paid by a Buyer moreover consists of an excise levy of 20%. Prospects who use the M-Pesa mortgage service and repay earlier than the subsequent day at 00.00hrs will solely be required to pay the entry charge and upkeep on the excellent quantity.
What’s the FULIZA restrict?
A FULIZA restrict will probably be assigned to a buyer who has been utilizing the community for at the least six months relying on the utilization of their line on the time of activation. Those that have been utilizing the service for lower than six months can have no entry to utilizing the overdraft companies.
In the meantime, whenever you ultimately have entry to the mortgage function, your first borrowing restrict could also be fairly low. So to extend your overdraft restrict, it’s essential to keep energetic use of Safaricom and M-PESA companies, in addition to well timed compensation of your FULIZA M-PESA facility by way of M-PESA top-ups.
Remember that your FULIZA restrict can go up or down relying on how a lot you borrow and the way shortly you pay it again.
