How To Get Fuliza, Repayment, Terms, And Condition

Fuliza loans or Fuliza M-Pesa an overdraft facility for all M-Pesa users. The facility allows you to complete your M-Pesa transactions even when you have insufficient funds in your account. In essence, Fuliza M-Pesa is like a bank overdraft.

It is a product of NCBA Bank, that is offered through Safaricom’s M-Pesa. Note that although people call it Fuliza loans, it is not a loan. According to Safaricom, Fuliza is a continuous overdraft service.

You can Fuliza as many times as you need, provided you are within the allocated Fuliza M-PESA limit. Every Mpesa line you have registered is treated as a different Fuliza account with its own separate limit. The limit is reviewed every 3 months.

If you want to buy items and you have insufficient funds in your M-Pesa account, Safaricom will fund the difference. Now, as soon as you deposit some money into your account, the company will deduct their amount plus a small facility fee or interest. The amount of money you can have through Fuliza will depend on your set Fuliza overdraft limit.

How to Fuliza Mpesa Loan

Before you start with Fuliza, you have to meet specific requirements; you need:

1. To be an M-PESA registered user
2. Have an active Safaricom line for at least six months

If you meet those requirements, here is how to activate your Fuliza Limit:

Related Content: How To Withdraw Fuliza From An M-Pesa Agent

Step 1: Opt-In to Fuliza

1. Dial *234# on your mobile phone.
2. Select option 0, which is Fuliza M-Pesa.
3. Next, select 1 (yes) To get started
4. Enter 98 more and 1 to accept Fuliza M-Pesa’s terms and conditions.

Fuliza M-Pesa repayment

Once you opt into the Fuliza M-Pesa service, you will be responsible for the payment of all applicable fees. Safaricom will deduct the fees immediately after you top up your M-Pesa account. The fees are subject to change at any time at Safaricom’s sole discretion.

Safaricom will charge you the standard M-Pesa transaction fees when you use Fuliza. Plus, the company will charge you maintenance and an access fee of 1% on your outstanding Fuliza balance. The table below represents the interest and service fees charged for using the service.

How to increase Fuliza limit

With Fuliza, you can use the overdraft facility as many times as possible. However, you must be within your allocated limit to enjoy the service. Safaricom may from time to time prescribe a maximum and minimum facility you may request on Fuliza. It is known as the overdraw limit

Safaricom will always review the limit and reserve the right to vary it without giving you any reasons. If you want to grow your Fuliza M-Pesa limit, you must continue using M-Pesa and Safaricom services frequently. You must also repay your Fuliza loan on time by topping up your account.

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