Frequently asked questions

Getting started

What is Koa?

Koa is your partner for a better financial future! We make saving simple, seamless, flexible, and hassle-free. We want to help you achieve your financial goals right from your phone. With Koa, you never have to worry about manual processes or fine print

How do I start saving on Koa?

Download the application, we will ask you a few questions on the app to verify your identity, and then you can create your first goal and start saving! It's really as easy as that! You can also watch this video to see how to set up your first goal

What is the minimum deposit I can make on Koa?

You can deposit as little as Ksh 100. Top-up at any time!

Why do I need to fill my ID and KRA details?

We work with Kenya’s regulatory bodies such as the Central Bank of Kenya and alongside financial partners who have a strict KYC (Know-Your-Customer) requirements. The KRA pin serves to check that the identity documents provided matches with what has been recorded on official databases. Rest assured, your data is 200% protected and we ensure that it is only used for verification purposes.

Savings & Interest

Do I earn interest when I save on Koa?

Koa is here to help you save and grow your money so that you can reach your financial goals faster. Interest is earned and compounded daily. Your savings earn interest of up to 10% interest p.a with Britam via the Koa app. This interest accrues daily on your balance. The interest amount is paid monthly (available from the beginning of every month).The interest amount will reflect in your Koa app.
*Kindly note that interest rates are subject to change at any time based on market conditions

How is my interest paid out?

The earned interest on your savings will reflect daily and will be added to your Koa account daily. You can withdraw this amount at any time

When do my savings begin to earn interest?

Your savings starts to accrue interest 24 hours after your first deposit on Koa,and on a daily basis thereafter. The interest on your savings is credited to your Koa account daily.

Can I monitor my savings and interest?

Absolutely! We have designed the Koa app to make it easy for you to track your savings goal and interest. Once you log in to your Koa app, you will view:
1. Your total savings: The total amount you have saved on your Koa app
Your earned interest: How much your money has grown since you made your first deposit
2. Pending actions: These are upcoming actions based on your savings goal, such as 'transfer KSH 1,000 to your Emergency Stash'
3. Your savings goals: This is a snapshot of how each goal is performing, how much has been saved per goal, and the maturity date for your goal.
4. Your transaction statement: This is a statement providing details of all your transactions
We also send you notifications on your emails and registered phone number anytime a transaction occurs to ensure no activity on your Koa account goes unnoticed or unapproved by you.

How is Koa able to offer higher returns than traditional banks?

All saved funds are warehoused with and managed by BRITAM a leading asset management company in Kenya, registered and regulated by the Central Bank of Kenya and Capital Markets Authority, ensuring that your savings are extremely safe and guaranteed. A portion of the proceeds is then passed onto you as interests in your savings. Britam Asset Managers is regulated by the Capital Markets Authority. The indicated rate of return is not guaranteed and past performance does not guarantee future investment performance. The indicative rate of return is not fixed and may, as such, vary from time to time depending on the investment period and prevailing economic, political or social circumstances.

Fees and Charges

How much does it cost to save on Koa?

Saving on Koa is absolutely free!
The only cost you will incur is standard MPesa transaction fees when topping up your Koa goals with MPesa. We do not charge any fees on your savings, we only focus on helping you grow your money and achieving your financial goals.

Safety and security

How safe is my money on Koa?
  • Your money is completely safe with Koa.
  • We work closely with the regulator, Capital Markets Authority (CMA), and are delighted to announce that we have been accepted to the CMA Sandbox. See the CMA's Press Release.
  • More specifically, our local partners are regulated by the Central Bank of Kenya and Capital Markets Authority.
  • We keep security at the top of our minds and follow appropriate regulatory guidelines.
How safe is my data on Koa?

All information you provide through our application is securely stored and will only be accessed upon your request.


Can I withdraw my money at anytime?

Absolutely. You will always have access to your money. If you choose to save for a specific goal, you can withdraw this money at any time and no interest will be forfeited. Interest on the Britam Money Market Fund is earned daily.

How do I withdraw my savings?

Withdrawing your money is easy. Follow these steps:
1.  Log into the Koa app
2. Click on Transfer button in the home page
3. Choose the goal to withdraw from
4. Proceed to select MPesa option
5. Enter amount to withdraw and click transfer funds

Please note, it takes Britam up to 5 working days to process a withdrawal request but if it takes any longer, please reach out to our support team.

How many times can I withdraw in a day?

You can currently make up to 2 withdrawals per day. If you make more than 2 withdrawals, Britam will cancel all withdrawal requests. For instance, if you initiate 4 withdrawals in a day, all 4 requests will be cancelled, not just the 2 over the limit.

What happens after I achieve my savings goal?

Congratulations! You can choose to withdraw your money and spend it towards your goals! OR Better yet, you can choose to keep growing your money by keeping it saved on the Koa app and it will continue to accrue interest!

Are there any withdrawal charges?

There are no hidden costs. No penalties are incurred for withdrawal. You will only incur standard MPesa withdrawal charges when withdrawing money from Koa. In case your withdrawal exceeds the daily MPesa limit, that is, Ksh 300,000, we will request your bank account details for us to send the withdrawal amount.

Please note, it takes Britam up to 5 working days to process a withdrawal request but if it takes any longer, please reach out to our support team.

Why is my withdrawal transaction still pending?

Your withdrawal is "Pending" because it is being processed by our partner Britam. The process of withdrawal should take up to 5 working days. Once we have received confirmation from Britam that the payment has been processed, your transaction will automatically be marked as "Successful".  If the transaction takes longer, please reach out to our support team.

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