Did you know you can take loans on your Safaricom MPESA line or through the MPESA app or USSD code *334# Now you know! Through the Safaricom Mpesa many Kenyans can access credit for any emergencies.
What is MPESA?
MPESA is a Safaricom mobile wallet that allows Safaricom subscribers to receive, store and transfer funds through their mobile phones.
Loans Available on Safaricom MPESA App and line
Loans available on the Safaricom MPESA or App include:
1) Mshwari loans
2) KCB MPESA loans
3) Fuliza MPESA
4) Faraja Loans
5)Halal Pesa
6) Hustler fund
How To Apply For Mshwari loans
Mshwari is a mobile banking wallet created by Safaricom MPESA and Ncba bank that allows MPESA customers to save money as well as borrow loans on their mobile phones.
To Activate Mshwari:
Open MPESA menu
Select Loans and Savings
Select Mshwari
Click on Activate and accept Terms and Conditions and an updated menu of Mshwari will appear upon activation.
Apply loan
Open MPESA menu
Select Mshwari
Select Loans
Select Request Loan
Enter amount of loan you want
Enter MPESA pin and press OK
You will receive confirmation message about the application and your money will be deposited in your Mshwari wallet ,you can now move it to your MPESA wallet.
How To Apply KCB MPESA Loans
Kcb mpesa is a mobile banking app available on Safaricom MPESA created by KCB bank and Safaricom.
How to apply for a KCB M-PESA loan
Go to M-PESA menu
Select loans & savings
Select KCB M-PESA
Select loans
Request loan
Enter amount
Enter M-PESA PIN & submit.
The loan will be deposited to your KCB M-PESA account. To access the loan, move the money to your M-PESA. It is free to send and withdraw money to M-PESA from KCB M-PESA.
How To Fuliza MPESA
Dial *234# to register for fuliza services using your registered safaricom line.
Press option 0 to register for fuliza services using your safaricom line.
Next choose YES by pressing 1 .
Ensure that you accept by pressing option 1.
After registering for fuliza services open M-PESA menu.
Select either send money, paybill or buy goods.
Enter amount of money you would wish to use.
Press okay to complete transaction.
Enter your PIN.
Press Okay.
The fuliza option will pop up.
Select Yes.
Press okay to complete fuliza transactions.
How To Buy Goods With Faraja Credit
Faraja loan is a 30 and 7-days Zero-interest loan available to Safaricom Mpesa customers at a point of sale where the customer can purchase goods and services and pay later via mpesa.
To register for Faraja loan ,Dial *799# and select opt in. Faraja loan can only be used for Lipa na MPESA Buy Goods and PAYBILL transactions at Selected outlets.
How To Apply For Halal Pesa Facility
Halal Pesa is a new Safaricom Mpesa financial facility available to Mpesa Customers. The service is provided by MPESA in Partnership with Gulf African Bank Ltd. Halal Pesa offer interest free loans which adheres with Shariah law in Muslims.
To register for Halal Pesa, dial *347# and select Register.
How To Apply for Hustler Fund loans
Hustler funds loans can be applied via USSD code *254# or through Hfund min app in MPESA app.
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