Customers can make micro deposit into this. To access the Lock Savings Account feature, customers will need to dial *234*6# and follow the prompt. “Reports by the Central Bank have lauded M-Shwari as the most impactful contributor to the formal financial services sector in the history of the nation. Go to M-PESA, Loans and Savings, M-Shwari, Lock Savings Account, Open Account, select to save from either M-PESA or From M-Shwari, Enter Target Amount, enter period between 1-6 months, Enter amount to save. This cash is moved into the savings account using your handset via the M-PESA Menu. However, a customer will receive the requested money after 48hours. Dial *234#. The interest rate is constant during the investment period, and is calculated daily and paid out at maturity. The M-Shwari Lock Savings account is ideal for customers looking for higher interest rates and those wishing to keep money away safely for one to six months. Safaricom’s MPESA based Lipa na MPESA service has surpassed yet another milestone in its existence as the competition play catch-up. M-SHWARI INTRODUCES LOCK SAVINGS ACCOUNT, A FIXED DEPOSIT FACILITY Commercial Bank of Africa (CBA) and Safaricom Limited have introduced a fixed deposit feature on the globally acclaimed M-Shwari platform dubbed “Lock Savings Account”. Save my name, email, and website in this browser for the next time I comment. To join M-Shwari, Go to your M-PESA menu, select “My account” and “Update menu” then go to your M-PESA menu, select Loans and Savings, MShwari, click on activate account and accept terms and conditions. There are no charges levied on the M-Shwari Lock Savings account. Next time you save, go to the Lock Savings option under M-Shwari, select to Save from either M-Shwari or M-PESA, Enter Amount and then your M-PESA PIN to complete your transaction. 8)  Can a customer withdraw their funds before maturity date? https://www.wikitionary254.com/mshwari-lock-savings-account A Lock Saving Account acts as a deterrent from spending the money you have saved. 7)  How will I know that my money in M-Shwari Lock Savings has matured? Am worried for2daysnow my lock saving is not working any problem is my money secure. This is a savings account that allows M-Shwari customers to save for a defined purpose and for a specified amount of time. This is a savings account that allows M-Shwari customers to save for a defined purpose and for a specified amount of time. 5)  How does one access the Lock Savings Account Menu? 39,999, Realme C15 comes to Kenya with a 6000mAh battery, Quad-camera setup for Ksh. Though M-Shwari allows you to withdraw money from your Lock Account before the lock period is over at no cost, you need to make an application and then wait for 48 hours before your money is credited to the M-Shwari account. The interest rate is constant during the investment period, and is calculated and paid out monthly or at maturity. A replica service launched in Tanzania by CBA and Vodacom dubbed M-Pawa, has  registered 250,000 customers in the three weeks it has been in the market; underlying the disruptive power of the M-PESA proposition in the region. This is a savings account that allows M-Shwari customers to save for a defined purpose and for a specified amount of time.