Fuliza is a service that allows M-PESA customers to complete their transactions even when they have insufficient funds in their M-PESA account.
It is a convenient and flexible way to access extra cash when you need it.
However, Fuliza has a limit, which is the maximum amount you can borrow at any given time.
The limit varies from customer to customer, depending on their usage and repayment behavior.
In this article, we will show you how to increase Fuliza limit, using the latest information and tips from reliable sources.
What is Fuliza and How Does It Work?
Fuliza is a short-term overdraft facility provided by Safaricom and NCBA Bank.
It enables M-PESA customers to complete their transactions even when they have insufficient funds in their M-PESA account.
Fuliza can be used for buying goods and services, paying bills, and buying airtime.
However, Fuliza cannot be withdrawn directly from the M-PESA account.
It can only be used to send money to another M-PESA account or to pay via Lipa na M-PESA.
To use Fuliza, you need to be a registered and active M-PESA customer with a Safaricom line that has been active for at least six months.
You also need to opt into the service by dialing *234# or using the Safaricom App.
Once you opt-in, you will be assigned a Fuliza limit, which is the maximum amount you can borrow at any given time.
You can check your Fuliza limit by dialing *234# or using the Safaricom App.
Fuliza charges a daily access fee of 1% of the borrowed amount, plus a maintenance fee that varies depending on the amount borrowed.
The maintenance fee ranges from Ksh 2 to Ksh 30 per day.
Fuliza has a repayment period of 30 days, after which the service will be suspended if the outstanding balance is not cleared.
Any funds deposited in the M-PESA account will automatically be used to clear the Fuliza balance.
Fuliza also affects the credit score of the customer, and failure to repay within 90 days may result in being blacklisted by the Credit Reference Bureau (CRB).
How to Increase Fuliza Limit?
The Fuliza limit is determined by a number of factors, such as the usage and repayment history of M-PESA and Fuliza, the credit score of the customer, and the frequency and value of transactions.
The limit is reviewed and updated periodically, depending on the performance and behavior of the customer.
Therefore, to increase Fuliza limit, you need to follow these tips and strategies:
- Repay your Fuliza balance on time and in full. This will improve your credit score and show your ability and willingness to repay your debts. It will also reduce the amount of fees and interest you pay for using Fuliza.
- Use Fuliza regularly and responsibly. This will increase your usage and transaction history, which will show your need and demand for the service. It will also demonstrate your trustworthiness and reliability as a customer.
- Use M-PESA frequently and actively. This will increase your M-PESA transaction history, which will show your financial activity and stability. It will also enhance your relationship and loyalty with Safaricom and M-PESA.
- Avoid defaulting or being blacklisted by the CRB. This will damage your credit score and reputation, which will reduce your chances of getting a higher Fuliza limit. It will also affect your access to other credit facilities and services.
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FAQs
What Factors Determine My Fuliza Limit?
Your Fuliza limit is a reflection of your M-PESA usage and repayment history. The more you transact and repay loans on time, the higher your limit can climb.
Are There Any Quick Tips to Boost My Limit?
While there’s no magic formula, these might give your Fuliza a little nudge:
- Update Your M-PESA Profile: Ensure all your information (name, ID number, etc.) is accurate and up-to-date.
- Link Your M-PESA to a Bank Account: This shows a broader financial picture and can positively impact your limit.
- Use M-PESA Savings and Investment Products: Engaging with other Safaricom financial services can showcase your responsible financial behavior.
How Long Does It Take for My Fuliza Limit to Increase?
There’s no fixed timeframe. Safaricom regularly reviews Fuliza limits based on user activity and creditworthiness. Be patient, keep using M-PESA responsibly, and watch your limit climb gradually.
Can I Appeal If My Fuliza Limit Increase Request is Denied?
Unfortunately, no. Fuliza limit decisions are based on internal algorithms and credit assessments. However, by consistently following the tips above, you can increase your chances of a future limit increase.
Conclusion
Fuliza is a useful and convenient service that allows M-PESA customers to complete their transactions even when they have insufficient funds in their M-PESA account.
However, Fuliza has a limit, which is the maximum amount you can borrow at any given time.
The limit varies from customer to customer, depending on their usage and repayment behavior.
To increase Fuliza limit, you need to repay your Fuliza balance on time and in full, use Fuliza regularly and responsibly, use M-PESA frequently and actively, and avoid defaulting or being blacklisted by CRB.
By following these tips and strategies, you can increase your Fuliza limit and enjoy more benefits and flexibility from the service.
