faqs-Safaricom

What is Fanikiwa?

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Fanikiwa is a loan service that allows customers access affordable loans via mobile phone.

Who do I contact if I have any questions?

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Telephone: Contact Safaricom customer care on 100 for pre-pay customers and 200 for post-pay customers.

How long will it take for me to receive my funding?

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We can provide funding for your loan shortly after application within your approved credit limit.

If I already have an existing loan with Fanikiwa, does this impact my ability to get another Fanikiwa Loan?

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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?

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You will charged 5% of the total value of the amount requested for the 30 days.

What is the period of the Loan?

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30 days

How do you determine my credit limit?

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Credit limit is determined based on one M-PESA activity.

What is the maximum loan amount I can borrow?

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You can qualify for up to Kshs 10,000

What happens if I do not pay back on time?

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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 CRB?

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For the 30 day loan, they will be reported after the 90^th day.

How do I know check my loan limit?

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You can check loan limit by dialing *234*4*8#, then select check loan limit option

How do qualify for Fanikiwa?

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You need to be an M-PESA subscriber that has been specially selected for the purpose of this pilot.

How many loans am I eligible?

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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.

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