As Technology is continuing to grow rapidly their are too many inventions.In money and banking also Technology is growing rapidly and hiding money under the matress is outdated.It is totally unsafe to keep your money under the matress or in the house.
Saving your extra cash which have no use is a good decision because you will use the money in future for purposes of educating your children or buying assets like car or house.
Remember their are some other online savings account which are fake and not registered with the government.They can steal your heard earned money if you just save anywhere without doing research about them.After doing a lot of my research online I came up with some of the mobile banking sites and bank sites where you can save your money and earn good intrest rates depending on how much you save.Many of them have maturity of more than a month.
M shwari lock savings account
M shwari is one of the site you can save your money and get good intrest rates.If you open a lock savings account with m shwari you can save any amount you would wish from one shilling.
The intrest rate is 7% per annum if the money is retained in account till maturity.So if you save your money dont withdraw before maturity.It will depend on the duration you choose to save your money.You can save your money for a duration of one month and above.
Locked money is locked on account for a period of one month to twelve months depending on which one you choose.All intrests are calculated per day but they are paid out on the day of maturity.The minimum saving is 500 shillings.
If you save your money dont withdraw back to mpesa before maturity because you will forfeit all intrest accrued.You will get cash back immediately to KCB mpesa account on prompting cash back.Earn intrest rates of 6.3% per annum on your savings.The intrest rates will vary per month and also depending on the period you save your money.
Visit your nearest Absa bank and open a Junior account where you will save money to educate your young ones in years to come or open a target account where you will save money depending on your target you choose when registering.The intrest rate is 7% per annum.
Spire bank is not that popular in Kenya but if you know a branch which is close to you then register with them because it is one of banks with very high intrest rates when you open a savings account with them.Their intrest rate is 10% per annum.You can save anything from 2,000 and above.
This is a global multi asset strategy fund that invests in online foreign exchange markets whose primary objective is for the investor to achieve capital growth.Mansax is suitable for people with huge income because minimum investment is 250,000.Minimum top up is 100,000 and management fee is 10% applied on intrest rates earned above 25%.Their is 1,200 and more new accounts.When you save with Mansax you will earn 24% intrest rate.
I wish you good luck as you make choise of choosing which site will fit you.
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