Access to quick mobile loans in Kenya keeps expanding, with new services offering fast credit via USSD and SMS. One of the latest options making rounds is Fazuli Loans, which claims to provide instant loans through M-Pesa without needing a smartphone app.
Here’s a simple, practical guide on how it works—and what to watch out for.
How to Apply for Fazuli Loans
Fazuli Loans uses a USSD-based application process, meaning you don’t need internet access.
Step-by-Step Application Process
- Dial the USSD code:
Dial *817# on your mobile phone. - Follow the prompts:
Select the registration option and enter the required details (such as your name and ID number). - Create an account:
Set up your profile as instructed. - Apply for a loan:
Choose the loan option and select your preferred amount. - Wait for approval:
If approved, funds are typically sent to your M-Pesa account.
Is Fazuli Loans Legit?
At the moment, there is no widely verified information confirming the legitimacy of Fazuli Loans.
That doesn’t automatically mean it’s a scam—but it does mean you should be cautious.
Important:
Before applying for any new loan service:
- Check if it is registered with the Central Bank of Kenya (CBK)
- Look for verified reviews from trusted sources
- Avoid sharing sensitive personal information unless you’re sure the service is genuine
Tips to Avoid Loan Scams in Kenya
Mobile lending scams are increasingly common, especially with new USSD and app-based lenders. Here’s how to protect yourself:
1. Verify the Lender
Always confirm whether the lender is licensed or recognized by regulatory bodies like CBK.
2. Avoid Upfront Fees
Legitimate lenders typically deduct fees from the loan, not request payment before disbursement.
3. Protect Your Personal Information
Never share:
- Your M-Pesa PIN
- One-time passwords (OTPs)
- Full banking details
4. Be Wary of Unrealistic Offers
If a loan offer sounds too good (very high limits, zero checks, instant approval), it could be a trap.
5. Check Reviews and Complaints
Search online or ask others about their experiences before signing up.
6. Use Trusted Platforms
Stick to well-known and widely used mobile lending services when possible.
Final Thoughts
Fazuli Loans presents a convenient way to access credit via USSD, especially for users without smartphones. However, since its legitimacy is not yet clearly established, it’s important to proceed carefully and do your own verification before applying.
Disclaimer
This article is for informational purposes only and does not constitute financial advice or endorsement of any lending service. Users are responsible for conducting their own due diligence before applying for any loan. Always verify the authenticity and regulatory status of a lender to avoid fraud or financial loss.