What’s In The Kuda Savings Update?
This is an understatement: The next version of Kuda is a big deal.
Compulsive savers will agree. Even those who have been struggling not to overspend won’t argue. 👀
Let’s unpack what’s coming and infect you with our excitement.
1. A refreshed app dashboard.
We’re not just talking about adding splashes of colour to the dashboard (remember this Twitter survey?).
Without changing the things you’re familiar with, we made several subtle tweaks that have improved the Kuda Experience considerably. We’ll let you be the judge of that.
2. Two new ways to save with interest.
You’ve had Spend+Save for a while now and while it’s pretty great, some people want to save even when they’re not spending.
For that kind of people, we designed Flexible and Fixed Savings plans. 🎉
Need to save for something, anything at all? The Flexible plan lets you put money away automatically (daily, weekly or monthly) with up to 10% annual interest.
The Fixed plan is for those times when you have a chunk of money you’d rather not spend but you don’t trust self-control. The app will lock it down for you and we’ll pay you up to 15% annual interest on your savings.
If you need some of your Fixed Savings, you can take out up to 20% and keep the interest you’ve earned.
You can probably tell that these savings features are the highlight of the update, and we’re quite proud of what we’ve built for you.
3. Rules now apply when you add money to your account with cards.
Not so long ago, we explained our rules for adding money to your account with a local or foreign card.
Basically, we let you know that we will stop covering the cost of card-to-account transfers after you’ve added up to 100,000 naira to your account by card.
Those card rules will apply from the upcoming update.
Adding money to your Kuda account from another bank’s app or through internet banking remains free. We will never charge you anything for that.
And because it’s not always a cashless world, you will be also be able to deposit cash into your Kuda account at over 10,000 physical branches across Nigeria through our partner banks. We will never leave you stranded.
The Kuda Savings update arrives in a matter of days.
We hope it makes your financial life better. 💜