Safaricom has announced a discount of up to 40 per cent on daily services charged on overdraft loan services -Fuliza.
In an announcement dated Wednesday, September 28, Safaricom announced that customers who drawdown between Ksh100-500 will be charged a three per cent daily maintenance fee, down from the current five.
Subscribers who take up an overdraft of between Ksh501 – 1,000 will now be charged six per cent on a daily basis.
They will also enjoy a special waiver.
Further, customers that drawdown Ksh1000 and below shall enjoy a waiver on the daily maintenance fees for the first three days. The discounted tariff will take effect from Saturday, October 1, 2022,” read the statement in part.
In addition, the daily charges for those taking loans of between Ksh1,001 – Ksh1,500, Ksh1,501 – Ksh2,000 and Ksh2,501 – Ksh70,000 have been revised downwards by 10, 20, and 16.7 per cent respectively.
The new tariff will benefit customers who have opted in for Fuliza and have a positive limit with no outstanding balance. Those with unsettled debts are not locked out from the tariffs.
“You will pay the current daily maintenance fees on your outstanding balance.
The new discounted price will take place after you clear your balance,” stated the telco company.
Subscribers who are yet to opt-in or have a zero limit were encouraged to continue using the mobile service.
Fuliza is an overdraft solution initiated in a joint partnership between Safaricom, NCBA and KCB Bank in 2019. It is tied to mobile money wallets which enables them to access mobile loans instantly.
