Sponsored

Friday, August 21, 2020

Mshwari Loans Shifted to Fuliza Mpesa

    August 21, 2020   No comments

Mshwari, Fuliza Mpesa

NCBA on Monday announced increasing the minimum Mshwari loan limit to ksh 20,000 up from ksh 500 previously.

Read ; NCBA Bank Increases Mshwari Minimum Loan Limit

In this regard, borrowers who had Mshwari loans below ksh 2000 were got their loans shifted from Mshwari platform to Fuliza Mpesa.

The move by NCBA to shift small loans from Mshwari to Fuliza Mpesa was meant to avoid customers who default paying loans with small amounts below ksh 2000.

Because Fuliza has a minimum of ksh 500, and loan repayment can be done within the same say, NCBA and Safaricom thought it can be suitable for small loan borrowers.

Some Kenyans have already reported an increase in their Fuliza loan limit with some claiming it happened because they opted out and opted in again.

This also means, if you had a loan on Mshwari amounting to less than ksh 2000, Safaricom will notify you to pay it through Fuliza.
Advertisements

Mwabaya Katana

About Mwabaya Katana

Mwabaya Katana is a Finance Online Researcher and Writer.He is the founder of 'Loans Kenya' Blog.

Previous
Next Post
No comments:
Write comments