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If you are to attend a business class, one of the ways to come up with a good business idea is to discover a gap in the market and try fill it. Equity did that with their unique service that has an overdraft, and they are now giving Safaricom’s Fuliza a run for their money. The Equity Bank Fuliza overdraft comes at a time when an average Kenyan had just exhausted all his/her borrowing avenues. Just like Hustler fund, I don’t expect Kenyans to take a chance on this.

Now an overdraft occurs when an account lacks enough money to cover a withdrawal but the bank still allows the transaction to go through.

Equity bank has released a real time overdraft facility that will see borrowers get up to ksh. 100,000. This new product is part of the banks move to financial inclusivity and boost the conventional market due to perceived high levels of risk.

On the Equity website the bank assures that customers can borrow as many times as possible through the banks mobile application or equitel line or Dialing *247#. It supports transactions by paybill, till and send money.

You can also check: How to apply for Hustler fund biashara loan

This new Fuliza by Equity stands out because it allows people to still transact cash even when they are in debt until 30 days since you borrowed the Fuliza are over. To a large extent this is very favorable and preferred by many since unlike its rival by Safaricom it allows transactions still when in debt.

Having an inactive account just for being in debt can really be an inconvenience mostly considering that the average Kenyan survives on hand to mouth where they set out to hustle in the morning and whatever amount they get will all be used to buy food.so taking for instance a husband who sells second hand clothes on the street and they end up not saving enough money to buy new stock, that means that they’ll need to loan some cash to keep their businesses afloat and the same business is what they use to feed their families. So zero transactions to such a person means a hungry family, a failed business venture and sickness. Now this simply put means low quality of life in general.

Equity Bank Fuliza terms

  • Equity Bank Fuliza allows a one-month payment period unlike Safaricom Fuliza that will deduct your first transaction.
  • Equity Bank Fuliza can be used when sending money, paying bills or when buying airtime using equity bank mobile app.
  • Equity Bank Fuliza facility offer loans ranging between Kes 100 up to Kes 100,000 depending on one’s credit history and CRB ratings.
  • Equity Bank Fuliza facility does not deduct upfront the amount a customer has used until the repayment period elapses. 

The growing competition in the Kenyan digital lending market is expected to impact the Kenyan economy positively. It will likely lead to lower interest rates and more affordable credit for borrowers. This will boost economic growth and create more jobs.
The digital lending market is also expected to be important in driving financial inclusion in Kenya. By providing access to credit to those who traditional banks underserve, digital lenders can help to reduce poverty and inequality.


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