Fuliza, which was introduced in 2019 in a partnership between Safaricom, NCBA, and KCB now has new discounted tariffs.
The overdraft facility now has lower tariffs and Safaricom with its partners added that they reduced the rates after assessing current consumer behaviour and economic conditions.
The overdraft solution linked to a customer’s mobile money wallet now sports a new discounted tariff of up to 40%.
Safaricom Lowers Fuliza Interest Rates
|Band (KES)||Old Tariff (Per Day)||New Tariff (Per Day)|
|0-100||KES 0||KES 0|
|101-500||KES 5||KES 3 (40% discount)|
|501-1000||KES 12||KES 6 (40% discount)|
|1001-1500||KES 20||KES 18 (10%discount)|
|1501-2500||KES 25||KES 20 (20% discount)|
|2501-70000||KES 30||KES 30(16.7% discount)|
The new discounted tariffs go live from next month(Ist October 2022) and will be available for all Fuliza customers with a positive limit and no outstanding balance.
It’s worth noting that the new tariffs will apply after you’ve cleared your balance.
As a reminder, these were the previous rates:
|Band (KES)||Tariff (per day)||Promotional Tariff for 30 days from launch|
|0-100||KES 2.4||One-time fee of KES 0|