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Safaricom Announces New Fuliza Discount

by Zablon Ondari
2 mins read

Safaricom in partnership with NCBA and KCB banks have announced new Fuliza tariffs with a discount of up to 40 per cent.

The discounted rates will be effective from 1st October.

Borrowers will be given a grace period of 3 days after the overdraft, before which the maintenance charges will start accruing.

Borrowers of between Ksh100 and Ksh1000 will get a 40 per cent discount. Ksh1000 will attract maintenance charges of Ksh6 from the current Ksh10, with Ksh500 attracting Ksh3 charges daily from the current Ksh5.

Customers withdrawing more than Ksh1000 will receive lower rates, with those with between Ksh2500 and Ksh 70 000 will receive a 16.7 per cent discount.

However, borrowers must settle their outstanding loan balances before enjoying the new tariff rates.

The new revised rates are aimed at achieving financial inclusivity among Kenyans.

Fuliza Mpesa was launched in 2019 by M-Pesa, KCB and NCBA to help customers access extra amounts on top of their M-Pesa balance.

Since its launch, Fuliza has established itself as one of the most dominant mobile loan providers registering an average of Ksh1.5 million disbursements daily.

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