Halal Pesa Launch, App, Terms and Conditions, Halal Pesa Loan, Interest Rates

Halal Pesa Launch, App, Terms and Conditions, Halal Pesa Loan, Interest Rates

Halal Pesa is a digital financing product based on the M-Pesa platform that is Shari’ah compliant.

It is solely a financing product, with no provision for saving, which will be added later. Safaricom PLC and Gulf African Bank Ltd have teamed up to bring you this product.

 

Requirements to Register for Halal Pesa

Halal Pesa is available to any M-Pesa customer.

How to Activate/Register for Halal Pesa

• Dial *334#
• Select Register
• Check T&C, read then Accept T&C
• Enter the right M-Pesa PIN

 

Halal Pesa App

Halal Pesa is also available through the M-Pesa App.

 

How to Check your Halal Pesa Limit

• Dial *334#
• Go to Facility
• Select Check limit
• Enter right M-Pesa PIN

 

How to Repay your Halal Pesa Facility

• Dial *334#
• Go to Facility
• Select Pay Facility
• Select facility to be paid
• Select option to pay in full or partial.
• For full payment, enter the M-Pesa PIN and confirm to pay
• For partial payment, enter the amount, M-Pesa PIN and confirm to pay

 

Read Also List of M-Kopa Phones and Prices in Kenya

 

Late Payments Penalties/Halal Pesa Terms and Conditions

 

There are no penalties if you pay late. If you do not pay by the 31st day, your facility will be restructured according to your instructions, and the new facility will be repaid to the Bank with a 5% profit.

For example, if the customer was given a 1000sh facility with a 5% profit rate, the total due on day 30 will be Ksh.1,000 + Ksh.50 = Ksh.1,050.

If the customer fails to pay by the 31st day, the facility is restructured at a 5% profit rate on the principal amount (Ksh.1,000), with the customer expected to pay Ksh.1,000+Ksh.50+Ksh.50 = Ksh.1,100 by the 60th day.

 No additional charges will be applied to the facility after day 60.

 

How to Check your Halal Pesa Balance/Halal Pesa Loan

• Dial *334#
• Go to Check Balance
• Enter right M-Pesa PIN

 

How to Check your due date for settling Halal Pesa

• Dial *334#
• Go to Check balance
• Enter right M-Pesa PIN

Expected result: Your Halal Pesa outstanding facility balance is Ksh.100 due on 09-05-2022.

 

Services available on Halal Pesa Menu

• Opt In
• Request Facility
• Query Limit
• Query Balance
• Repay Facility
• Opt Out

 

Minimum and Maximum Limit Halal Pesa Limit

• Minimum = Ksh.1,000
• Maximum = Ksh.15,000 (first time customers) & Ksh.20,000 (repeat customers) subject to customer’s qualifying limit

 

How to Improve your Halal Pesa Limit

• Pay back your loan on time.
• Increase the number of times you use your M-Pesa mobile wallet

 

How to Opt Out from Halal Pesa

 

• Dial *334#
• Go to Opt Out
• Confirm you want to opt out
• Enter M-Pesa PIN

Halal Pesa Customer Care Contacts

 

Mobile Number: 0711 075 000