Safaricom, in partnership with NCBA and KCB Group, has cut daily charges for loans below KES1000 on its overdraft facility, Fuliza, by 40 per cent and introduced a three-day grace period.
In a statement issued Wednesday, daily charges on loans of up to KES 1000 will come down from KES10 to KES6.
“We have continued to assess the evolution of consumer behaviour and economic conditions to identify ways in which we can further enhance the utility of our digital financial services,” Fuliza said.
“Towards this end, we are introducing a new discounted tariff of up to 40% on Fuliza.”
However, the 1 per cent access fee on all borrowings has been retained.
Fuliza was launched on January 5, 2019, in partnership with the CBA. Now it has been merged into NCBA and KCB Group.
To subscribe (opt-in) to this service, a customer shall dial *234# and agree to the presented Fuliza Terms and Conditions. One does not necessarily have to be an existing M-Shwari customer in order to opt into this service.
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