Safaricom’s Faraja Loan is a point-of-sale credit facility that allows customers to purchase goods and services or pay bills from partner outlets without incurring interest. The only charges are standard M-Pesa transaction fees at the point of sale.
Key Features of Faraja Loan
- Interest-Free: No interest is charged; you only repay the amount borrowed.
- Loan Terms:
- 30-Day Loan: Repayable within 30 days.
- 7-Day Loan: Repayable within 7 days.
- Eligibility:
- Available to qualifying M-Pesa customers with active Safaricom lines.
- Credit limit is based on creditworthiness.
- Not available to new customers.
- Loan Range: Borrow amounts between Ksh 20 and Ksh 100,000.
- Supported Merchants: Use the service at selected outlets, including Naivas Supermarkets, among others.
- Repayment: Repay the loan through a designated Paybill number or other channels provided by Safaricom.
How to Opt-In to Faraja Loan
- Dial
*799#
on your phone. - Select “Opt-In” from the menu.
- Enter your M-Pesa PIN to confirm.
- Safaricom will send you a notification with your credit limit.
- Note: A maximum of two accounts can be registered under one National ID.
How to Use Faraja Loan
- Dial
*799#
. - Choose between “Buy Goods” or “Paybill”.
- Enter the amount you want to spend.
- Input your M-Pesa PIN to complete the transaction.
- You’ll receive a confirmation message from Safaricom indicating whether the transaction was successful.
Additional Information
- Partner Bank: The service is supported by Equity Bank.
- Usage: Faraja allows shopping and payments without upfront cash, enabling flexibility and convenience.
With Faraja Loan, you can enjoy the ease of shopping and paying for services with no additional interest charges—just standard M-Pesa transaction fees.