Fuliza Charges Lowered By Up To 50%

Fuliza Charges Lowered By Up To 50%
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Fuliza Charges Lowered By Up To 50%

Safaricom’s Fuliza has cut daily charges for loans below Sh1000 by 50 percent and introduced a three-day grace period.

Daily charges on loans of up to Sh1000 will come down from Sh10 to Sh5 but the company has retained the 1 percent access fee on all borrowings.

The telco and its partner banks KCB and NCBA are set to announce the price cuts which will see reducing loans below Sh500 attract Sh3 daily charges down from Sh5.

Fuliza Charges Lowered By Up To 50%

The upper band of between Sh2500 to Sh70,000 have been handed a 16.7 percent price cut from Sh30 daily to Sh25.

Fuliza overdraft facility was launched on January 5, 2019, in partnership with Commercial Bank of Africa (now merged into NCBA) and KCB Group.

The small credit facility has emerged as a leading mobile loan, disbursing Sh1.5 billion daily.

Felicity Gitonga
Felicity Gitonga is the founder of Africa Business News. abn, freelance writer, journalist, and author with a passion for telling stories.

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