How Lock Savings Can Earn You Up to 15% Interest”

How Lock Savings can earn you up to 15% Interest.

Housing

February 12, 2024

“Why do I even bother saving when it feels like my money is just sitting there, doing nothing?” Often times this is the thought on Evelyn’s Mind.

One evening, while scrolling through her phone, Evelyn came across a feature on the Watu app that caught her attention: Lock Savings. It promised something that sounded almost too good to be true—up to 15% interest if she was willing to lock her savings for a certain period. The idea intrigued her. Could this be the answer to her savings woes?

Evelyn decided to dive deeper. She learned that by committing to lock her savings for a fixed period—be it three months, six months, or even a year—she could earn significantly higher interest than with a regular savings account.

Why Lock Savings?

With the Watu Lock Savings feature, you get to earn up to 15% interest when you save. This discipline not only helps curb impulsive spending but also rewards you with a higher interest rate compared to standard savings accounts.

Interest rates as high as 15% can be life-changing, especially in an economy where inflation can eat away at your savings. By locking your money at such a high rate, you’re effectively shielding yourself from inflation and growing your wealth at a much faster pace.

How It Works:

Select the Lock Savings Feature: Open the Watu App and navigate to the lock savings option.
Choose Your Amount and Duration: Click Create New, choose a title, and decide how much you want to lock away and for how long. The app will typically show you the interest rate based on your selection.
Confirm and Lock: Once you’re happy with the terms, confirm your choice. Your money will be locked away until the maturity date.
Earn Interest: As time passes, your locked savings will accumulate interest. Depending on the app, you might be able to track your earnings in real time. Download the Watu App to get started.