What is M-PESA Fanikiwa?+
M-PESA Fanikiwa is a loan service that allows M-PESA customers to access affordable loans via their mobile phone.
Who do I contact if I have any questions?+
Telephone: Contact Safaricom customer care on 100 for pre-pay customers and 200 for post-pay customers.
How long will it take me to receive my loan?+
We will provide funding for your loan shortly after application within your approved credit limit.
If I already have an existing loan with M-PESA Fanikiwa, does this impact my ability to get another M-PESA Fanikiwa?+
Yes, you will be required to fully repay for an existing loan before requesting for another.
What fee will I be charged for the loan?+
You will charged 5% of the total value of the amount requested for the 30 days.
What is the period of the Loan?+
How do you determine my credit limit?+
Credit limit is determined based on one’s M-PESA activity
What is the maximum loan amount that I can borrow?+
You can qualify for up to Kshs 10,000
What happens if I do not pay back on time?+
There is a rollover fee of 5% on the outstanding balance every 30 days.
- There is a maximum of two rollovers before you are reported to CRB (Credit reference Bureau)
When will I be reported to Credit Reference Bureau (CRB)?+
You will be reported to CRB after the 90th day of default.
How do I know check my loan limit?+
You can check loan limit by dialing *234*4*8#, then select check loan limit option
How do I repay my loan?+
You can repay your loan by dialing *656#, then select repay loan
How do qualify for M-PESA Fanikiwa?+
You need to be an M-PESA subscriber that has been specially selected for the purpose of this pilot
Safaricom will whitelist 35,000 customers only
How many loans am I eligible?+
A customer is able to take one loan at a time.
Once a customer pays a loan they can take up another loan for the period of the pilot
How long is the pilot period?+
The pilot duration will be 3 months from launch date