Standard Chartered Bank Kenya (Stanchart) has partnered with Sanlam Investments East Africa Ltd (Sanlam) and Mangosteen BCC Pte Ltd (Bambu) to launch SC Shilingi funds. This is a low-ticket money markets fund proposition for Standard Chartered Bank clientele.
The 100% digital investment product available on the SC Mobile app allows clients to investment amounts of as low as KShs 1000, earn competitive interests and withdraw funds anytime.
Features of the MMF includes: –
- With as low as 1000 Kenyan Shillings, customers will have access to an investment solution.
- The product is 100% digital and available 24/7 on SC Mobile app
- Very flexible – you can invest one-time anytime, weekly and/or monthly
- Very attractive daily interest and compounding monthly
- Very liquid – customers have unlimited free withdrawals at anytime
The product will enable one move money from your current account daily, weekly or monthly to the Money Market Fund managed by Sanlam. The platform will combine a customer current account with the local currency Money Market Fund investment to provide client with attractive returns, higher than they would ordinarily get from a current account and/or savings account while maintaining a relatively high level of liquidity.
Edith Chumba, Head Consumer, Private and Business Banking at Standard Chartered had this to say, “Our value proposition is to offer our clients diverse wealth management solutions, tailor made to meet their needs at every point of their life journeys. The SC Shilingi Funds will enable all our existing and new clients achieve their financial goals by starting their investment journey, diversifying their portfolios and saving towards future needs while earning attractive returns”.