There will be no evasion from paying fuliza loans!
Today safaricom company has outlined an updated on its rules concerning fuliza.this is due to high numbers of defrauter. According to new terms, KCB and NCBA may hold users funds in KCB and mshwari accounts as security for outstanding fuliza debts. They will either prevent or restrict users from withdrawing in whole or parts of one's accounts for as long as one has an outstanding fuliza debt.
The updated terms further indicate that the right to hold on users funds using same offset fuliza loans will also apply on savings and mobile savings accounts. Its expected to cut the rate of loan defaulters on fuliza who abandon lines with debts.
Reports shows that it is the most lucrative mobile lending product from the safaricom firm. The product's profit has made 1.083% interest rate from last year, with 61% growth to 4.5 billions from the last financial year.
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