M-shwari lock savings account provides a simple and convenient way for Kenyans to save money. All you need is a Safaricom line with an active M-Pesa account and you’re good to go.
To learn more about M-Shwari Lock Savings Account, you can read the articles below:
How Can I Open an M-Shwari Account in Kenya?
As mentioned earlier, you’ll need a Safaricom sim-card with an active M-Pesa account. To open an M-Shwari lock savings account, follow the following steps:
- Go to the M-Pesa menu on your phone
- Choose M-Pesa
- Select Loans and Savings
- Select M-Shwari
- Select Lock Savings Account-Select
- Open Account
- Open Account From M-Pesa or From M-Shwari
- Enter your target Amount
- Enter the period you’d like to save (should be between 1 and 12 months)
- Enter your pin
You’ll receive an alert containing a summary of the details you’ve enter. Choose OK to complete the process.
What are the benefits of opening an M-Shwari Lock Savings Account?
- There are no minimum savings. This means that you can save as little as 1 shilling.
- You don’t incur any costs when saving money from your M-Pesa or M-Shwari accounts.
- The interest rate is constant during the investment period.
- The lock period is flexible depending on customer needs.
How to open an M-Shwari Lock Savings Account Step-by-Step Picture Instructions
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