Where to save
Mobile savingsBeing checked
Chumz (savings app)
Moneto Ventures Ltd (app); money invested in Nabo Capital unit trusts · Regulated by Capital Markets Authority
Rate not published
- Start with
- KES 5
- Open to
- Individuals and groups
- Getting money out
- Up to 2 working days (T&C); FAQ says within 48 hours excluding weekends/public holidays
- Lock-in
- None for regular goals; optional locked savings (put in Nabo KES Fixed Income Fund; TechCabal reports the 'Vault' locks for at least 9 months)
- Fees
- No monthly or maintenance charge. Withdrawal fees per T&C: KES 20 for withdrawals of KES 0–1,000, up to KES 40 above KES 40,000 (middle tiers not captured). FAQ also says standard M-Pesa paybill fees apply on withdrawal. Chumz also earns an interest differential from the fund manager.
How to deposit
Deposit from M-Pesa inside the Chumz app (to personal or group goals); can be triggered by reminders and saving rules. No paybill published on official pages.
Always confirm the Paybill and account details with the provider before you pay.