Safaricom Responds to Customer Who Lamented Zero M-Shwari Limit Despite Being Loyal for 15 Years
- A Safaricom customer took to social media to lament over her zero M-Shwari limit and questioned the telco
- The telecommunications company explained how loan limits were determined depending on several factors
- Safaricom told TUKO.co.ke that customers must exercise responsible financial behaviour and use its services frequently
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A Safaricom customer has taken to Facebook to express frustration over her zero M-Shwari limit despite being a loyal customer for 15 years.
Source: Getty Images
In a comment on Safaricom's page on Wednesday, August 13, Anitah Cee noted that she had been making frequent transactions on M-Pesa.
However, she wondered why she could not borrow from the M-Shwari service.
"My line is over 15 years now and active in M-Pesa...but I can't even get M-Shwari loans, why?" she posed.
What was Safaricom's response?
Safaricom explained to TUKO.co.ke that M-Shwari loan limits were determined by several factors.
The telecommunications company reiterated that for consumers to raise their credit limits, they must have a solid borrowing and payback history.
It urged customers to use their lines for broadband and phone services, make regular deposits into their M-Shwari accounts, pay back loans on schedule, and use M-Pesa frequently.
Additionally, Safaricom emphasised that consumers can increase their loan limits by engaging in responsible financial behaviour.
Source: Getty Images
It further stated that NCBA Bank, its lending partner, determined the credit limits for borrowers.
"In order to increase your limit, you need to continue using M-Pesa and Safaricom services, save in your M-Shwari account, as well as maintain a good credit score by repaying all your loans on time. You will be notified once the loan limit is awarded," the company expounded.
What is M-Shwari?
Users can open and manage an M-Shwari bank account without physically visiting the bank thanks to M-Pesa's M-Shwari mobile banking service.
It enables free money transfers between users' M-Pesa and M-Shwari savings accounts.
Customers can receive interest on their savings amount and save as little as KSh 1 by using the service.
Through the service, users can obtain a microcredit product (loan) of at least KSh 100 at any moment, and the money will be deposited into their M-Pesa account right away.
How can customers increase Fuliza limits?
In other news, Safaricom clarified that to raise Fuliza loan limits, the company advised customers to repay their loans on time.
It encouraged customers to save frequently and abstain from withdrawals to show steady growth and dependability.
The telco also asked customers to pay off their Okoa Jahazi arrears and maintain their Safaricom lines topped off.
Which other loan products did Safaricom launch?
Elsewhere, Safaricom unveiled three new loan products for millions of its customers.
Taasi Till offers short-term loans ranging from KSh 1,500 to KSh 250,000.
Fuliza Biashara allows Lipa na M-Pesa merchants to take out several overdrafts, with a minimum of KSh 1,000 and a maximum of KSh 400,000.
Proofreading by Jackson Otukho, copy editor at TUKO.co.ke.
Source: TUKO.co.ke
