How To Open M-Shwari Lock Savings Account

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.

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.