Fuliza is Safaricom’s mobile overdraft service that allows M-Pesa customers to access credit when they run out of cash. Just like a bank’s overdraft facility, Fuliza enables you to complete transactions that would otherwise fail due to insufficient funds in your M-Pesa account. This makes it a quick and convenient way to access funds in times of need. However, there is only one obstacle that might hinder you from getting the amount of money you desire—the Fuliza limit.
In this article, we’ll discuss how you can increase your Fuliza limit and access more money when you need it.
Understanding your current Fuliza limit
Your Fuliza limit is the maximum amount you can borrow from the service. You are not eligible to register and use Fuliza services unless your Safaricom line is at least six months old and must be registered with M-Pesa. To check it, dial *234# on your Safaricom line and select the Fuliza option. The maximum limit for first-time users is generally lower than for regular users. Most people start off with around Ksh 300 to 500, which gradually increases over time.
The maximum amount that one can borrow is Ksh 70,000. While you might not be able to get that amount now, you can gradually increase it and borrow a reasonable amount of money. Fuliza limit varies from one user to another, depending on factors such as their credit score, repayment history, and how they use other Safaricom services.
How to Increase your Fuliza limit and access more money
1. Repay your Fuliza loans on time
Repaying your money on time is one of the most effective ways to increase your Fuliza limit. The more you do so, the more your limit increases. Late repayments will have the opposite effect and can even lead to being listed on the Credit Reference Bureau (CRB), which can severely affect your ability to borrow money from Fuliza or other lenders.
2. Avoid being listed on Credit Reference Bureau (CRB)
Being listed on the Credit Reference Bureau (CRB) can have a negative effect on your Fuliza limit. In fact, you might not be eligible to borrow money from Fuliza at all. To avoid being listed on CRB, you should always fully repay loans you borrow from other financial institutions.
3. Use Fuliza services more often
Once you have registered for Fuliza and are eligible to access their funds, you can occasionally use the service even when you don’t really need the money. For example, you can always buy goods or pay bills using the M-Pesa paybill option and let Fuliza top up the deficit for you. You can repay the loans on time for every borrowing, and your Fuliza limit will increase quickly.
4. Use M-Pesa and other Safaricom services frequently
Using M-Pesa and other Safaricom services like M-Shwari and KCB-Mpesa frequently can also increase your Fuliza limit. The overdraft facility uses your transaction history to assess your creditworthiness and determine your limit.
Conclusion
Fuliza is a convenient way to avoid missing out on essential transactions due to lack of funds. Increasing your Fuliza limit will not happen overnight, you will have to practice a little patience while adhering to the above tips. Remember also to build a positive credit history for future borrowings.
