Information and Reviews

Update:[15.03.2022]

The first thing that catches your eye about Faraja credit is the “powered by Safaricom logo.’ Is it a Safaricom product? Better yet, hasn’t the latter has overtaken the market with their ‘Fuliza’ Loan products? Generally, they are a retail-based credit lender in Kenya.  What do we know about Faraja Loan Products? Read more here.

Oh! It’s a Nairobi based lender with its headquarters in Houston, Texas!

What We Know About Faraja

Faraja allows users to access point of purchase credit loans at 0% interest. If you are stuck somewhere buying goods and run out of cash, you can use Faraja to ‘kopa’ over a period of 7-30 days just like that!

When you read their terms and conditions, you will see that a liability limited company owns it by the name of  EDOMx.

In light of the above, the minimum amount to transact on Faraja is Ksh50, and the maximum stands at Ksh.100,000. With interest standing at 0%APR.

What Loans Does Faraja Offer And What Is It Best Known For?

Faraja credit offers Retail credit to anyone who is a pre-approved Safaricom subscriber. Their primary mission is to improve lending habits and ensure positive lending. Similar to Zenkas’ 0% first loans, Farajas’ product offers 0% interest loans to subscribers. Subscribers, in turn, get to purchase goods on credit from verified and registered Faraja merchants.

The Exact Cost Of The Loan And A Representative Example

Because this is a retail-based app, it means you are borrowing against a retail company. E.g. Supermarket.

You need to be registered first and be aware of your limit. Let’s say you buy goods worth Ksh.3,000. You get to the till, and you have no cash:

  • Opt-in, 
  • select ‘Buy Goods’/ ‘Enter Till Number,
  • Input merchant number. ( Should be a verified merchant who is also registered on Faraja.)
  • Input pin and borrow Ksh.3,000, which then you should repay the same amount within the time frame chosen.

How Can You Get A Loan From Faraja Loan App?

First, follow this link to apply or dial *799# to opt-in.

Fill in your KYC details and wait to be awarded a limit.

After successfully logging in, customers can access 2 loan facilities simultaneously!

The service also has other features like airtime top-up, mini statements, Buy Goods and Paybill.

The app version is available on Google PlayStore but is still in development. The same can’t be said for Apple Store. Best to use the USSD option.

How Does Faraja Determine Your Eligibility And Credit Score?

Faraja credit peruses through your transaction history from Mpesa to banking transactions. Your credit history is therefore assessed through the former, as well as your repayment history in general.

Disbursement And Repayments At Faraja.

Once you opt in to the service and get approved for a loan, you can then pay merchants against the credit limit awarded.

Here you do not get access to any cash. Instead, it’s like Faraja has paid on your behalf and you, in turn, owe them.  Which you later repay within a chosen time frame of 7-30 days.

Overpayments are rejected as Faraja only allow lesser amounts or repayment of the exact amount.

In case of default, your credit limit is lowered by 10%. The account is suspended if, by 14 days, repayment is not made. 

On the extreme end of default, which is 60 days, your information is shared with a third-party debt collection agency to recover the amount in default.

What Unique Faraja Has To Offer?

The service is tailored to cater to and favour the use of  USSD.

Pros and Cons of the Faraja Loan App.

Pros

  • Very pro USSD as compared to other digital lenders.
  • 0% interest credit facility.

Cons

  • Loan limits are catered to repayment history data on your phone.
  • If you default, you are out.

How Can I Contact With Faraja?

Currently, there isn’t a customer care email address as all matters are addressed in-app or visit a Safaricom shop to get assistance. But, you can try using [email protected].

Alternatively, visit the Website. 

Address: 16th floor. Muthangari Drive.Westlands

Phone: 0111799799/0701220220

Email: Currently, the customer care email address is [email protected] credit.com or,  as all matters that need addressing, in-app or visit a Safaricom shop to get assistance. But, you can try using [email protected]

Working hours: 24/7

OKash vs other mobile lenders

Mobile Loan Apps in Kenya (payday loans via app or ussd)
Loan amount KES
Term days
Loan cost:
0.00KES
RRSO:
0%
Total loan cost:
2000.00KES
Możliwy zakres pożyczki

kwota:

od 500.00

do 20000.00

okres:

do 1 dnia

do 30dni

17937
Osób wybrało tę ofertę
Choose this offer
1
Loan amount
From KES500.00 to KES20000.00
FIRST LOAN FOR FREE (0% COMMISSION, 0% INTEREST, NO REGISTRATION FEE)
Loan term
From 1 days to 30 days
Available via USSD
Yes
*841#
Extensions
Yes
Loan extensions are a feature that gives you more control over your loan by letting you postpone your due date by 7, 14 or 30 days.
More information
Downloading and using Zenka loan application is straightforward and it takes less than three minutes to sign up and apply for a loan. Upon approval, money is sent directly to your phone via Mpesa. Additionally, Zenka Finance provides a fast, reliable and convenient way to access a loan whenever you need it. What makes Zenka loans ideal for any Kenyan is that the loans do not need any collateral, they get approved fast, and an individual can access higher loan amounts at a low fee.
Loan cost:
220.00KES
RRSO:
513%
Total loan cost:
2220.00KES
Możliwy zakres pożyczki

kwota:

od 2000.00

do 30000.00

okres:

do 21 dni

do 30dni

7356
Osób wybrało tę ofertę
Choose this offer
2
Loan amount
From KES2000.00 to KES30000.00
Loans up to KSh 30,000.
Loan term
From 21 days to 30 days
Fees from 5-15%.
Available via USSD
No
Extensions
No
More information
Tala is a lending company that was initially called ‘Mkopo Rahisi.’ It has been operating in Kenya since 2014. The company has an android application where registered users can access instant loans using their smartphones without any need for collateral.
Loan cost:
260.00KES
RRSO:
737%
Total loan cost:
2260.00KES
Możliwy zakres pożyczki

kwota:

od 500.00

do 10000.00

okres:

do 2 dni

do 30dni

5783
Osoby wybrały tę ofertę
Choose this offer
3
Loan amount
From KES500.00 to KES10000.00
Loan term
From 2 days to 30 days
Available via USSD
No
Extensions
No
More information
Okolea Loans are digital loans deployed via an android app called "Okolea" which is readily available on Google Play Store.
Loan cost:
336.00KES
RRSO:
1387%
Total loan cost:
2336.00KES
Możliwy zakres pożyczki

kwota:

od 2000.00

do 10000.00

okres:

do 14 dni

do 14dni

4066
Osób wybrało tę ofertę
Choose this offer
4
Loan amount
From KES2000.00 to KES10000.00
Loan term
From 14 days to 14 days
Available via USSD
No
Extensions
No
More information
Looking for Quick loans cheza cash in Kenya? OPesa offers the fast and affordable loans to you. No paperwork, collateral or office visits needed. You just need to install the APP, fill the questions, and make the application. The money will be credited to your M-Pesa account in a few minutes. Easy to get Cash here.
Loan cost:
600.00KES
RRSO:
9460%
Total loan cost:
2600.00KES
Możliwy zakres pożyczki

kwota:

od 500.00

do 10000.00

okres:

do 21 dni

do 30dni

3431
Osób wybrało tę ofertę
Choose this offer
5
Loan amount
From KES500.00 to KES10000.00
Loan term
From 21 days to 30 days
Available via USSD
No
Extensions
No
More information
The new GetBucks app aggregates your data to show you a seamless overview of your financial landscape.
Loan cost:
700.00KES
RRSO:
18322%
Total loan cost:
2700.00KES
Możliwy zakres pożyczki

kwota:

od 500.00

do 50000.00

okres:

do 1 dnia

do 30dni

3890
Osób wybrało tę ofertę
Choose this offer
6
Loan amount
From KES500.00 to KES50000.00
Loan term
From 1 days to 30 days
Available via USSD
No
Extensions
No
More information
Berry, Kenya’s newest mobile money lending App, credits you with low cost loans with flexible repayment schedules. Get the cash simply and swiftly straight to your mobile wallet.

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