Savings
June 11, 2021

Join Our 12-Week Savings Challenge!

Koa

2022 is fast approaching, which makes this a perfect time to start planning our personal, professional and gear up to crush your financial goals next year!

Starting January 1st, we are running a 3-month savings challenge, to help you cultivate a saving culture, and start the year right. The goal is to reach the achievable amount of Ksh. 12,000 over12 weeks starting January 1st, by saving on Koa.

We will reward three saving warriors with Ksh. 6000, 4000, and 2000 respectively at the end of the challenge! Plus, you earn an interest on your savings! Koa offers an interest rate of up to 10% per annum.*

It is really a win-win situation!

How does it work?

Starting date: Jan 1, 2022 to March 31, 2022

The Target: Ksh. 12,000

  1. Download the Koa app and get verified. Or if you are a Koa customer, log into the app!
  2. Select 2022 Savings Challenge among the Koa goals.
  3. Starting week 1, there is a dedicated amount to save on Koa until the last week of March where you will have saved Ksh 12,000. Koa ensures the saved amount is safe and easy to deposit and all deposits on Koa will earn interest of 10% p.a.*
  4. Save the dedicated amount every week.
  5. Achieve your goal of Ksh. 12,000 + interest by the end of March 2022!
  6. Get entered into a draw and win up to Ksh. 6000!

How much do I save every week?

Weekly breakdown for Koa's 2022 Savings Challenge

FAQs

Can I save more than Ksh. 12,000?

Absolutely! The Ksh. 12,000 is a benchmark for our savers, but feel free to save as much as you would like.

Is the interest daily, monthly, or yearly?

The interest rate is calculated yearly, but it is earned and compounded daily. Please note that interest rates are subject to change at any time based on market conditions.

What happens if I miss a week?

Life happens, we get it. There is no penalty for a late deposit or for missing a week. You can always make up for it in the next week :)

Am I still eligible to win the reward if I don't complete the challenge?

Unfortunately not. You will only be entered in the draw to win if you save the full Ksh. 12,000 (or more!) in the three months.

Am I more likely to win if I save more?

Everyone has an equal chance of winning. What this means is that if you save Ksh. 12,000, you don't have less of a chance to win compared to someone who has saved Ksh. 30,000.

When will the reward be awarded?

The reward will be awarded at the end of the savings challenge, so sometime in early April.

We are excited to start the savings challenge, are you?

Download the Koa app to get started!

*Interest on Koa is calculated per annum and accrues daily. Terms and Conditions apply.