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Phuka Digital Savings is an Airtel Money and Old Mutual Unit Trust product that enables customers to save from as low as MK10,000 in the Old Mutual Interest-Bearing Assets Fund through Airtel Money. The maximum amount per transaction is K1,000,000. This is a convenient way of saving and having access to competitive returns. The money is invested from Airtel Money wallet and will generate interest for the time it is in the Phuka Digital Savings account. The accrued interest is paid to customers every month. Disinvestments also go through a customer’s Airtel Money wallet.
Why choose Phuka Digital Savings?
With Phuka Digital Savings, you get:
- Competitive investment returns
- convenience - no need for completing forms
- Affordability - the minimum investment amount of MK10 000 allows anyone to invest.
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How to invest using Phuka Digital Savings
You'll first need to register and open an Airtel Money account with Airtel Money. Then:
- Dial *211#
- Select 5 for Financial Services
- Select Investments
- Select Phuka
- Follow the step-by-step prompts to register as a client.
- You'll receive an SMS notification with your Phuka Investor Number within 24 hours
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Frequently Asked Questions
We've answered a few of the commonly asked questions below.
The minimum investment amount is MK10 000.
The annual administration costs for Phuka Digital Savings are 6.0%. These fees are charged at fund level and are not deducted from a customer’s Phuka Digital Savings account. As a customer, you can invest and withdraw your money in part or in full with no penalties or fees. The only applicable charges are when withdrawing funds from your Airtel Money wallet.
Follow the prompts on the Phuka Digital Savings menu after dialing *211# and Selecting 5 and then 2. You will receive an SMS notification confirming your transaction. Once you do that it will send you an SMS informing that your disinvestment is being processed. Transactions are processed within 15 minutes.
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