How To Open M-Shwari Lock Savings Account

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To open an M-Shwari Lock Savings Account, Safaricom provides customers with convenient options through the M-Pesa menu on their phones or via the My Safaricom App. Here’s how you can open an M-Shwari Lock Savings Account using either method:

Using the M-Pesa Menu:

  1. Access M-Pesa Menu:
    • Open the M-Pesa menu on your phone.
  2. Navigate to Loans and Services:
    • Select the “Loans and Services” option.
  3. Choose M-Shwari:
    • From the menu, choose the “M-Shwari” option.
  4. Select Lock Saving Account:
    • Choose the “Lock Saving Account” option.
  5. Open Account:
    • Follow the prompts to open a new account.
  6. Set Target Amount and Period:
    • Specify the target amount you wish to save and the duration (1-12 months).
  7. Make First Deposit:
    • Make the initial deposit to activate the Lock Saving Account from either M-Shwari or M-Pesa.
  8. Receive Confirmation:
    • Once the account is successfully opened, you will receive a notification via SMS.

Using the My Safaricom App:

  1. Download the App:
    • Download the My Safaricom App from the Google Play Store (for Android) or Apple App Store (for iOS).
  2. Open the App:
    • Launch the My Safaricom App on your phone.
  3. Access M-Pesa Menu:
    • Navigate to the M-Pesa menu within the app.
  4. Select Loans and Savings:
    • Choose the “Loans and Savings” option from the M-Pesa menu.
  5. Choose M-Shwari:
    • Select “M-Shwari” from the available options.
  6. Opt for Lock and Saving Account:
    • Choose the “Lock and Saving Account” option.
  7. Open Account:
    • Follow the instructions provided to open a new account.
  8. Specify Time Period and Amount:
    • Enter the duration (1-6 months) and the amount you wish to save.
  9. Make Deposit:
    • Make the initial deposit to activate the Lock Saving Account, either from M-Pesa or M-Shwari.
  10. Receive Confirmation:
    • Once the account is successfully opened, you will receive a notification within the app.
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After opening your M-Shwari Lock Savings Account, you’ll start earning interest on your savings, and you can monitor your account’s progress through the M-Pesa menu or the My Safaricom App. Remember, you can withdraw your savings before the agreed date, and any requested withdrawal will be processed within 48 hours.