KCB Bank Uganda teamed up with Airtel Uganda to launch a new savings product, Airtel super saver, to address all concerns regarding individual finances.
With all concerns about finances management of individuals, KCB Bank Uganda teamed up with Airtel Uganda to launch a new savings product, Airtel super saver.
The product gives superb financial services to all Airtel subscribers on their mobile phones without owning a bank account.
It features various services ranging from Instant Mobile Loans and regular Savings to Fixed Deposit Savings Accounts, allowing them to save and fix money using their Airtel Money anywhere.
Microsavings: Why you need them
A micro savings system is an excellent option for people who want to build their assets but have limited income. It popularly achieved popularity in low-income communities and developing nations.
With micro saving, you can save even the smallest amounts of money over time to achieve financial security.
It works like regular savings accounts, but some fees are waived with no minimum balance, and very small deposits are permitted.
Why Airtel Super Saver?
Now with fundamentals about micro-savings, it’s sure you’ll need Airtel Super Saver and benefit from it as much as you can.
It provides mobile micro savings services starting with as little as UGX 500. It promotes financial inclusion by extending banking services to the unbanked community that still relies on rudimentary savings methods.
You don’t need a subscription for it, and deposits and withdrawals are free. You’ll also get a mini statement of the last four transactions, including your bonus.
Eligibility for Airtel Super Saver
What are the requirements for an Airtel Money Super Saver Account? For your eligibility to have an account, you need an active Airtel SIM card registered on Airtel money.
You also need sufficient funds for the customer you’d like to save, starting with UGX 500.
Using Airtel Super Saver
Airtel Super Saver: How It Works
Super Saver provides you with three incredible products—Regular Deposit Account, Fixed Account and Unsecured Mobile Loans.
Regular Deposit Account
For a regular deposit account, you can start your savings journey with as low as UGX 500 at an interest of 5% per year. Setting up your account is free, and you won’t be charged for deposits and withdrawals.
Fixed Deposits Account
Fix deposit account also needs no transaction fees on Super Saver subscriptions, deposits and withdrawals.
However, the initial deposit for customers starts from UGX 250,000 upwards.
The good news is your savings will attract a mouthwatering interest rate that will be paid as soon as the fixed tenure period matures.
Unsecured Mobile Loans
As much as you want to save, you might also need some loans. Super savings allows you to borrow some money on your mobile without any collateral.
Unfortunately, the feature is only available to Airtel Money Agents, allowing them to borrow up to UGX 250,000 for 48 hours at a fee of only UGX 300.
With all eyes on the future, Airtel Super Saver can be the best Kickstarter for your financial investment journey despite other players getting into the market and coming up with a counter product.
Airtel Super Saver will pave the way for you. It is a valid option if you want to improve your financial standing and find traditional banks closed to you.