You need to plan for your expenditure so that you are not forced to take consumption loans
Savings & Goals is the tool for you…
We do it everyday, ask a friend for some cash to sort out something, then borrow from a loan app for another thing, and for that other emergency, we borrow from the Sacco and so and so on.
We, then continue with life as if all these means nothing until we get trapped. Savings & Goals helps us save for our needs over a period of time. We are able to put small amounts of money away and when the need eventually arises we can dip into these savings instead of borrowing.
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The goal could be new kitchen equipment, an expensive date night, a trip to Bali, retirement fund, a new piece of land you have been eyeing or even upgrading your wardrobe.
Savings & Goals is ideal for both individual or group goals. Group goals have transparency, everyone can see what is happening in the group.
This is where Savings & Goals comes in!
Features of Savings & Goals
Rich is not a goal. Five million in three years is a goal.
| Product | Savings & Goals |
|---|---|
| Suitable for | For individuals & groups |
| Savings goal | Save for a specific goal e.g to buy furniture |
| Minimum saving at a time | Kes. 5 |
| Availability of savings | No mininum period, you decide |
| Interest rates | Prevailing market rates, depending on the period of investment. |
| Functions of the product | Manage your capital expenses. |
| Manage your periodical expenses. |
Projecting and Creating Your Savings & Goals
Savings & Goals gives you an option to lock your goal & earn a higher interest. This helps you develop a saving culture. You start with creating a goal; depending on how much you are able to save at a time, Savings & Goals helps you calculate how long it will take to achieve the goal. We will remind you to save towards your goal. See steps here below.
For short term goals that have no timelines, we got you too! You can save as little as Kes. 5
Step 1
Do you want to save as an individual or as a group?
Step 2
What goal do you have in mind? What do you want to save for?
Step 3
How much do you want to save? For how long do you want to save for? Would you like us to remind you?
Step 4
Start your saving journey
Step 5
View your statement
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