Safaricom, Kenya’s leading telecommunications provider, offers an interest-free loan called Faraja Loan. It’s designed to provide financial assistance quickly and conveniently. Here’s a step-by-step guide on how to access the Faraja Loan:
Step 1: Check Eligibility
Before applying for the Faraja Loan, ensure you meet Safaricom’s eligibility criteria. Generally, you need to be a Safaricom subscriber for at least six months, actively use M-Pesa services, and have a good repayment history.
*Step 2: Dial 244#
To access the Faraja Loan, dial *244# on your Safaricom mobile phone. This will open a menu with various loan options.
Step 3: Select “Faraja Loan”
From the menu, select the “Faraja Loan” option. This will initiate your loan application.
Step 4: Choose Loan Amount
You’ll be prompted to select the loan amount you need. Safaricom offers varying loan amounts based on your eligibility and usage history.
Step 5: Review Loan Terms
After choosing your loan amount, the system will display the loan terms, including the repayment period and any associated fees. Take a moment to review this information.
Step 6: Confirm and Accept
If you’re comfortable with the loan terms, confirm your loan application. You may be asked to accept the terms and conditions of the loan.
Step 7: Receive Loan
Once your loan is approved, the funds will be deposited directly into your M-Pesa account. You can access this money immediately and use it for your financial needs.
Step 8: Repay the Loan
Faraja Loans are typically short-term, interest-free loans. You’ll need to repay the loan within the specified period, which is usually a few weeks. Ensure you have enough funds in your M-Pesa account to cover the repayment on time.
Contact Safaricom for Assistance:
If you have any questions or encounter issues while applying for the Faraja Loan, you can contact Safaricom’s customer support for assistance. They are available through various channels, including:
- Customer Care Hotline: Dial 100 from your Safaricom line to speak with a customer care representative.
- Safaricom Shops: You can visit any Safaricom shop for in-person assistance.
- Safaricom Website: Safaricom’s official website may have FAQs and contact information for specific queries.
The Faraja Loan from Safaricom provides a convenient way to access interest-free financial assistance when you need it the most.
