How Does Your Money Grow on Koa?
At Koa, we want to see you win and achieve your financial goals faster by not only saving towards goals that matter to you but also by growing your money, through high interest offered on your savings.
So how exactly does your money grow on Koa?
We have partnered with Britam Asset Managers to grow your money by investing in the Britam Money Market Fund (MMF). When you deposit money into your saving goals, it gets invested into the Britam Money Market Fund. (The Britam MMF is a type of unit trust that invests in high-yielding, low-risk investments such as fixed deposit accounts, government treasury bills, and bonds). These secure investments allow Britam to earn a return on the investment which is then paid out to you. it’s really that simple! No catch, no complicated fine print.
Let’s do some Math to show you exactly how your money grows:
Say you deposit KES 1000 and keep it in there for 1 month at an interest rate of 10% per annum, your money will grow by 0.83% every month. The best part about saving on Koa is that your interest accrues daily and compounds monthly.
How is your interest paid out?
You earn interest on the Koa app daily, however, it is paid out to you every month by adding to the amount saved. . In case you want to withdraw before the end of the month, don’t worry, you won’t lose any interest and you will simply receive the interest accrued until that day.
We’re excited for you to save and grow your money on Koa! If you’ve got any questions, view our Frequently Asked Questions here or contact us through the Koa app!