How To Access Safaricom Faraja Loan

This article focuses on Safaricom Faraja Loan. Faraja is a point of sale credit that allows you to buy goods and services and also pay bills from partner outlets at 0% interest. Only normal Mpesa transaction charges will apply at the point of sale on the product.

There is no interest charged when you pay back what you borrowed. Faraja has a 30 day and a 7 day loan term. For a 30 day loan term, the loan is due on the 30th day. The 7 day loan is due on the 7th day after the loan is given.

According to Safaricom, you will only be required to repay the outstanding facility amount as advanced to you, in whole or in part, using the designated Paybill number or other channels as provided by the company from time to time.

Faraja loan is available to qualifying Mpesa customers with active Safaricom lines. Credit limit is determined by credit viability. It is currently unavailable to new customers.

The service works on selected merchants such as Naivas and allows customers to shop for goods or items from Kshs 20 to 100,000 and pay later. It is supported by Equity Bank.

How to Opt In To Safaricom Faraja Loan

1. Dial *799# and select opt in. The service will allow a maximum of two accounts under one National ID.

2. Enter your Mpesa PIN. Safaricom will then send you your credit limit.

How to Use Safaricom Faraja Loan

1. Dial *799#.

2. Select the option of Buy Goods or Paybill.

3. Enter the amount you wish to spend then proceed to key in your Mpesa PIN.

4. You will receive a notification from Safaricom indicating whether the transaction was successful or not.

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Zack Abuyeka

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