Safaricom cuts Fuliza interest rates

Safaricom has announced major changes to its Fuliza overdraft facility, here’s what you need to know:

Fuliza has cut daily charges for loans below Sh1000 by 40 percent and introduced a three-day grace period but the company has retained the 1% access fee on all borrowings.

Fuliza Loans below Sh500 attract Sh3 daily charges down from Sh5.

Daily charges on loans of up to Sh1000 will come down from Sh10 to Sh6.

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

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