The best part of saving is watching your money grow when you receive interest. This is when one can say, ‘patience pays.’ Banking institutions typically pay out their interest once in a year. This rarely encourages people to really get into saving. L-Pesa is a progressive finance service that focuses on fully meeting the needs of the customer. For that reason, the L-Pesa Saving Account offers weekly interest to your mobile wallet.
Your finances can grow with L-Pesa. To build up your finances with this service, all you need to do is save using your LPK tokens. You can do this with ease inside your L-Pesa wallet. Instead of waiting to save for the entire year and get some recognition, with L-Pesa all you need to do is wait for a week. The weekly interest that is earned is paid directly into your mobile banking wallet. This could be either M-Pesa, Tigo Pesa or MTN wallets.
There are some terms and conditions that apply for customers looking to make the most of this amazing benefit. To earn interest, you need to have a minimum deposit of 1000 LPK in their L-Pesa wallets. The maximum amount that you can earn interest from is 500,000 LPK.
You also should be an active customer of L-Pesa and used the services often to benefit from the weekly interest offering. This is because a minimum credit score of 800 is required. To get this credit score, you must reach 800 acore by building your financial profile with l-pesa and have taken and paid back on time of your microloan repayments.
Saving for one day and expecting to receive the weekly interest will not work with this product. You need to have a saving history of at least 30 days with your L-Pesa savings account.
What makes L-Pesa services stand out for many customers is exceeding expectations repeatedly. With this weekly interest offering, it is possible to receive a much greater return than you would with most financial institutions. You do not need to wait for one full year to get a benefit from your savings. See your money grow from one week to the next, with minimal effort.