In today’s fast-paced world, financial stability and growth are essential for achieving your personal and professional goals. Whether it’s owning a new car, funding a dream wedding, or pursuing a Master’s degree, financial planning is critical. One solution designed for this purpose is the Mradi Wallet, a product by Britam, a leading financial services company in Kenya. This article will explore the features, benefits, and how you can make the most out of Mradi Wallet to achieve your goals.
What is Mradi Wallet?
The Mradi Wallet is a unique savings and investment tool that allows Kenyans to invest as little as Ksh 200 and earn competitive returns of between 8-12% per annum. The wallet is part of the Imarika Wallets family and is geared toward helping users achieve short-term and long-term financial objectives through disciplined savings and investment practices.
Mradi Wallet is accessible to all Kenyans aged 18 to 75 years, with just a valid national ID and a KRA PIN number required to sign up.
Key Features of Mradi Wallet
- Affordable Contributions: Start your investment journey with as little as Ksh 200. For those who want to fast-track their savings, a lump sum contribution option is available from Ksh 50,000.
- Superior Returns: Enjoy 8-12% annual returns, much higher than most traditional savings accounts in Kenya.
- Short-term Investment: You can access your funds after just 9 months without any penalties. Early withdrawals, however, attract a 15% early exit charge.
- Free Life Insurance: For every wallet you create, you enjoy Free Life Insurance cover of Ksh 50,000, offering added peace of mind.
- No Withholding Tax: Unlike many other financial products, Mradi Wallet savings are not subject to withholding tax, which means you retain more of your interest earnings.
- Multiple Wallets: You can create and name as many wallets as you need, whether for your education, car, or holiday goals.
- Management Fees: The wallet charges a minimal management fee of 0.33% per month, ensuring you maximize your returns.
How to Sign Up for Mradi Wallet
Signing up for Mradi Wallet is as easy as dialing a USSD code. Follow these steps:
- Dial *778# on your phone.
- Complete the simple registration process using your ID number and KRA PIN.
- Once registered, create your first wallet by selecting the Mradi Wallet option.
- Choose a wallet name that reflects your financial goal (e.g., “New Car”).
- Deposit your first instalment via M-Pesa.
- You’ll receive a confirmation SMS, and your savings journey begins.
How to Top Up Your Mradi Wallet
Adding funds to your wallet is a straightforward process:
- Dial *778# and log in using your pin.
- Select Imarika Wallets and choose the Existing Wallet option.
- Choose Top-up and enter the amount.
- Confirm the transaction with your M-Pesa pin.
Your top-up will reflect in your wallet balance within 48 hours.
How to Withdraw from Mradi Wallet
You can access your funds after 9 months without any withdrawal fees. Here’s how to make a withdrawal:
- Dial *778# and log in.
- Select Imarika Wallets and choose the wallet you wish to withdraw from.
- Confirm the withdrawal, and you’ll receive your funds via M-Pesa within 4-7 working days.
Note: If you withdraw before the 9-month period, a 15% early exit charge will be applied.
Benefits of Using Mradi Wallet
- Flexibility: Whether you are saving for short-term goals like buying a phone or long-term ones like paying for a wedding, Mradi Wallet provides the flexibility to adjust your savings according to your needs.
- No Hidden Charges: You get to enjoy free life insurance, and since there’s no withholding tax, more of your money works for you.
- Easy Access: Signing up and managing your wallets is easy with just a mobile phone. You don’t need to visit a bank or fill out lengthy paperwork.
- Tax Relief: If you invest for 10 years or more, you can apply for tax relief, further boosting your financial returns.
Is Mradi Wallet Right for You?
Mradi Wallet is perfect for anyone looking for an affordable and flexible way to save and invest for personal projects. Whether you’re a recent graduate saving for further education or a couple planning a wedding, Mradi Wallet provides a secure and rewarding way to grow your savings.
In a world where financial discipline is key to achieving your dreams, Mradi Wallet offers a reliable solution. With affordable contributions, competitive returns, and added benefits like free life insurance, this tool is tailored to help Kenyans reach their financial goals. Start your journey today by dialing *778#, and make your dreams a reality with Mradi Wallet.
For more information, visit Britam’s official website or contact them directly through their customer service line. Start planning for a brighter future now, with the power of Mradi Wallet.
