How To Easily Let Your Money Work As You Sit At Home

I have been a diehard advocate and supporter of digital banking. I have always told people that at one point in Kenya, a bank will arrive that will not have a physical office and will be the first-ever digital bank to be approved by the Central Bank of Kenya.

A few years later, the news hit the headlines. The Central Bank of Kenya (CBA) had approved Branch Microfinance to act as the first digital bank in Kenya. Coming at a time when cyber threat is a real issue not just in Kenya, Branch had, indeed, dared to dream.

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This means that Kenyans can now save, take loans, and invest with Branch without leaving the comfort of their home or office. This is something that many people only dream of, the fact that you can be at home and let your money multiply as you focus on other things.

For many moons, I have been following the operations of Branch, and one of their products caught my eye; the Fixed Savings product. With this product, Branch lets you earn up to 16.5 percent annually on your savings. This is one of the highest rates at the moment. Right?

Let us say you have Ksh 500,000 sitting somewhere, and you want this money to make more money for you without you lifting a finger. For many, they will take this money to a savings bank account. Many banks do not go beyond 9 percent.

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But say you decide to have this money with Branch. In 12 months, your Ksh 500,000 will make you Ksh 82,500. If you had placed the same with your bank, assuming the interest is at 9 percent, the same amount would give you Ksh 45,000.

If you left this money with the Branch for 5 years without touching the interest, this is how your money will grow. The first year, you will have Ksh 582,500, the second year you will have Ksh 678,612.5. In the third year, you will have Ksh 790,583.56. In the fourth year, your account will have 921,029.85. In the fifth year, you will officially make your million for your account will have Ksh 1,072,999.77.

All these 5 years, you will be focusing on other things as you let your 500,000 work towards making you your first million. You can try this out today. Here is their link https://bit.ly/branchApp 

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