Lender Standard Chartered Bank Kenya has released SC Shilingi Funds.
According to the bank, this is a a low-ticket money markets fund proposition.
The project has been completed by Stanchart alongside Sanlam Investments East Africa Ltd (Sanlam).
SC Shilingi funds is now baked into the SC Mobile app.
Interested customers can invest as low as KES 1000, and then earn competitive interests.
Customers are also allowed to withdraw their money at any time.
The product is 100% digital and available 24/7 on the said app.
That is not all: the product will enable one move money from your current account daily, weekly or monthly to the Money Market Fund managed by Sanlam.
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In addition, SC Shilingi Funds will combine a customer current account with the local currency Money Market Fund investment to provide client with attractive returns, higher than they would ordinarily get from a current account and/or savings account while maintaining a relatively high level of liquidity.
Our value proposition is to offer our clients diverse wealth management solutions, tailor made to meet their needs at every point of their life journeys. The SC Shilingi Funds will enable all our existing and new clients achieve their financial goals by starting their investment journey, diversifying their portfolios and saving towards future needs while earning attractive returns – Edith Chumba, Head Consumer, Private and Business Banking at Standard Chartered
We do this by responding to the needs of our customers across a variety of financial services and in a timely manner. This collaboration solidifies our shared commitment to promote a saving and investing culture through solutions such as the Sanlam Money Market Fund which offers capital preservation, high levels of investment returns and immediate access to money when requested – Mr. Mark Mulatya, Chief Operating Officer at Sanlam Investments East Africa Limited