This is what Safaricom wants you to do by saving money every week in your MShwari account for 52 weeks. M-Shwari 52 Week Challenge It’s simple to follow through. So, starting week 1, deposit your savings on M-Shwari starting with Sh50, then Sh100 the next week, Sh150 the week after that and so on and so forth, until the week 52 where you will save Sh2,600, and your savings will add up to Sh68,900. Yes, you can save money in your bank, SACCO or any other channel but M-PESA gives a faster, more reliable and efficient way of saving your money right on your phone.
The M-Shwari 52 Week Challenge Saving promotion which started on the first week of January 2021, gives you as Safaricom M-Pesa subscriber an opportunity to save Sh50 bob every week incrementally, for a whole year . By the end of the year, you shall have saved Sh68, 900. Great deal right?
Therefore, these are the five reasons as to why you should definitely take up the M-Shwari 52 Week Challenge.
- By participating in the Mshwari 52-week challenge, you are likely to save Sh68, 900 in 52 weeks that is in a whole year. This will earn you a 6 per cent per annum interest. So apart from getting the amount you save weekly, the interest is something to look forward to.
- There are hundreds of Kenyans taking part in the challenge; you can follow this via #52Weekchallenge on social media. This community of savers gives support and advice and It’s comforting to know that you are not alone, especially when you have to save more and more each week. The saved amount will increase your loan limit from MShwari due to your saving pattern.
- Experts say that it takes an average of 66 days to form a habit, that’s approximately 7.5 weeks. With the challenge being 52 weeks, you have more than ample time to make saving a habit, and culture that you can carry all throughout your life.
- By saving in MShwari using this plan, you know that your money is safe and secure as opposed to saving hard cash in your house where it is easily available.
- You get to improve your credit score with Safaricom, meaning your Mshwari loan limit increases and you can borrow more for instances when you have financial emergencies.
With all the merits listed, we encourage you to sign up for this challenge by simply taking the steps below.
- Go to M-PESA on MySafaricom App or from your sim tool kit
- Select Loans and Savings.
- Select M-Shwari.
- Select Lock Savings Account.
- Select Open Lock Account.
- Set your target at minimum Sh68,900 or more.
- Set period at 12 months. Enhancement has been done from 6-12months.
- Set your account to save from M-PESA or M-Shwari.
Now you are good to go. Simply check the #52WeekChallenge savings calendar, to check on the amount set for each week and go to M-Shwari Lock Savings Account menu, and make your deposit.To check your balance, Go to ‘M-PESA’ menu and select ‘Loans and Savings’. Then select ‘M-Shwari’, choose ‘Check Balance’, Enter M-PESA PIN and Confirm the message displayed on your phone.Be sure you can be young without money, but you can’t be old without it, if only you sign up for this saving plan from Safaricom. What are you waiting for? This is the best saving option. Isn’t it?
This is a saving program that aims at cultivating a saving culture among Kenyans through the easy to use M-Shwari service. The aim is to reach the achievable amount of KSHs.68,900 by spreading it throughout the year. This makes it easier for you as the saving amount increases gradually.
How it works
Starting week 1 of 2021, deposit your savings on M-Shwari starting with KSHs.50, then KSHs.100 the next week, KSHs.150 the week after that and so on and so forth, until the last week of December where you will save KSHs.2,600, and your savings will add up to KSHs.68,900.
M-Shwari ensures the saved amount is safe and easy to deposit. The weekly savings also lead to your loan limit increasing and all deposits on M-Shwari will earn interest of 6% p.a.
How to set up M-Shwari Lock Savings Account for the #52Week Savings Head Start
- Go to M-PESA on MySafaricom App or from your sim tool kit
- Select Loans and Savings.
- Select M-Shwari.
- Select Lock Savings Account.
- Select Open Lock Account.
- Set your target at min Ksh. 68,900 or more.
- Set period at 12 months (The enhancement has been done from 6-12months).
- Set your account to save from M PESA or M-Shwari.
Every week, all you have to do is go to the M-Shwari Lock Savings Account menu, and deposit the amount that is set for the week, as per the #52Week Savings saving calendar.
To check your saved amount
- Go to ‘M-PESA’ menu and select ‘Loans and Savings’.
- Select ‘M-Shwari’.
- Select ‘Check Balance’.
- Enter M-PESA PIN
- Confirm the message displayed
Click here to download the savings program. You may print it out so as to ensure you are on track.
