1/n Safaricom has announced major changes to its Fuliza overdraft facility, here's what you need to know:

Fuliza has cut daily charges for loans below Sh1000 by 40 percent and introduced a three-day grace period but the company has retained the 1% access fee on all borrowings. 2/n Fuliza Loans below Sh500 attract Sh3 daily charges down from Sh5.

Daily charges on loans of up to Sh1000 will come down from Sh10 to Sh6 3/n Fuliza loan upper band of between Sh2500 to Sh70,000 have been handed a 16.7 percent price cut from Sh30 daily to Sh25.

Source: Business Daily.