Safaricom's M-Shwari introduces lock savings account

Monday 16 June 2014 | 14:26 CET | News
Kenyan operator Safaricom and the Commercial Bank of Africa (CBA) have introduced a fixed deposit feature on the M-Shwari platform. The Lock Savings Account will allow customers to save a minimum of KES 500 for a maximum of six months at interest rates of up to 6 percent per annum. To access the Lock Savings Account feature, customers will need to dial *234*6# and follow the prompt. The M-Shwari service was launched at the end of 2012 as a micro savings and lending facility. M-Shwari has seen CBA's loan accounts grow by more than 800 percent from 89,000 in 2012 to 897,000 in December last

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Categories: Mobile & Wireless
Companies: Safaricom / Vodacom
Countries: Kenya
::: add a comment


my maturity date is in January 2016..I have some money in my lock savings account Ave tried withdrawing imekataa...but it shows the balance after trying to withdraw..but when I check balance directly,it shows less the amount I tried withdrawing but it isn't in my mshwari...what might be wrong?
jessie kanyi @ 4/12/2015 - 04:16

How can I get my reward
james mwanza @ 12/8/2015 - 17:35

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