Learn how to register and invest with Mali by Safaricom by paying via Mpesa Paybill or SSD Code. Get also to know of interest rates on investment income and terms.
What is Mali?
Mali is a Safaricom investment tool that allows M-PESA customers to invest in Unit Trusts and earn 10% interest yearly. You can invest from as low as Ksh. 100 using your mobile phone. Investors will also be able to withdraw money to mpesa anytime.
Mali Investment Interest Rate
Mali Investment interest rate is 10% per annum. You will however be taxed by the government 15% withholding tax on investment income.
How to Register and Invest with Mali
To register with Mali investment follow the procedure below:
- Dial *230# using safaricom
- Select 1 to Accept the terms and conditions
- Click Send
- You will receive an sms notification from Mali
NOTE: We will update Mali Lipa Na Mpesa Paybil number and more information about terms and conditions and procedure once Mali goes live.
Requirements of using Mali Invest
To invest with Mali you must meet the following requirement:
- Your Safaricom phone number must have been active and registered with mpesa for atleast 3 months
- You must not have replaced your sim in the past 3 days
Is Mali Investment product by Safaricom worth it?
Before you invest your money with Mali, you should ask yourself these questions; For how long am I willing to invest? for what purpose? and how much?
If you are investing to buy a car, wedding or buy a house then saving is the best options. Investments are ideal for long-term goals like retirement benefit, children’s schools fees in ten year to come e.t.c Short term investments in Unit trusts are not worth it at all.
Important! Investing in Unit Trusts with Mali is different from investing in Stocks. Unit Trusts have low risks and low returns. The minimum cost of investment is also low.
Other than Mali by Safaricom, other companies in Kenya that offer Unit Trust investment opportunities include Britam Unit trust, Equity Bank, Old Mutual, CIC and Cytonn investment