How to Join Zimele Money Market Fund

This article will teach you how to join Zimele money market fund.

A consistent and secure income can make it easier to plan for your monthly financial obligations.

If you’re looking for a good money market fund to invest your extra cash in (instead of leaving it in your bank savings account, earning next to nothing), Zimele Money Market Fund has one of the highest annual yields.

It enables you to grow your savings at your own pace in a flexible and convenient setting.

Basically, it is based on the concept of pooling funds, in which money from various investors is pooled and then channeled into various investments.

It’s also worth noting that the Zimele money market fund is licensed and regulated as a collective investment scheme by the CMA.

Keeping this in mind, here’s how to join Zimele Money Market Fund.

 

How to Join Zimele Money Market Fund

The Zimele Unit Trust Fund can be joined online or via the Zimele mobile app.

Before you begin the registration process, make sure you have the following documents with you:

• A passport-size photograph
• a copy of your national ID card or passport

Now, here is the procedure on how to join Zimele money market fund:

Online service portal registration

1. Navigate to the Zimele online form by clicking on this link.
2. Continue by selecting the “Open Account” tab.

You will be directed to the page that has the application form. Proceed by clicking “Application Form.”

3. Select the account type as Unit Trust, then “money market fund”, and then “individual as the account type.

4. Fill out personal details which include your full name, phone number, ID number, email address, country, county, and employment status.

Also, attach your documents i.e.  Passport-size photo and the front scan of your ID /passport.

5. Next, accept the terms and conditions and then click on “Submit” to send your application.

 

You will then be notified that your request has been successfully submitted, and you will receive an email with your Zimele membership information within 24 hours.

Note: You can as well open a pension account using the same details and same procedure.

 

You can also sign up using the Zimele mobile app.

1. Download and install the Zimele app on your Android device using this link.
2. On the menu, select “Forms” and then click on “Open Account.”
3. You will be directed to the online account opening form, where you must accurately fill out the required fields and provide the required attachments.
4. When finished, accept the terms and conditions and click “submit” to complete the registration process.

Now, wait for your membership details to be sent to you via SMS and email.

It’s really that simple to join Zimele.

Otherwise if you prefer to apply manually, you can do so at the Zimele office in Nairobi, which is located at Ecobank Towers, 7th Floor, Muindi Mbingu Street.

Now that you know how to join Zimele money market fund, let us look at how you make transactions with them and how to check your statements.

 

How to deposit money to Zimele money market fund

You can deposit funds into your Zimele savings plan account using Mpesa paybill 501101 or bank channels once you have opened an account.

Here are the bank account numbers to use:

1. KCB Bank

Branch: Custody services

Account Name: Zimele Unit Trust Money Market Fund

Account Number: 1102388815

 

2. Barclays Bank Kenya Limited

Branch: Barclays Plaza

Account Name: Zimele Unit Trust Money Market Fund

Account Number: 030775006757

Swift Code: BARCKENXXXX

 

3. Standard Chartered Bank

Branch: Head Office

Account Name: Zimele Unit Trust Money Market Fund

Account Number: 0105016758900

Swift Code: KCBL KENX

Moving on….

Simply follow the steps below for Mpesa deposits:

1. Go to the Mpesa menu.
2. Choose Lipa na Mpesa.
3. Choose Pay Bill.
4. Enter 501101 as the business number.
5. Then type in your Zimele account or ID number.
6. Enter the amount to be deposited.
7. Enter your Mpesa pin, confirm your transaction, and click the Send button.

You will receive an SMS notification shortly confirming your transaction.

 

Zimele money market fund interest rates

The Zimele money market fund currently earns an annual interest rate of 9.56%, with recent years averaging around 9%. This is really impressive.

The interest is compounded annually and earned daily, making it ideal for both short-term and long-term savings.

 

How to get your Zimele money market fund statement

You can access your Zimele money market fund statement online or through the Zimele app.

Through the Zimele app

1. Launch the Zimele app on your phone.
2. On the menu, select e-statements.
3. Select “Unit Trust Online Statement.”
4. Enter your ID number and password to gain access.
5. Click on the “Check Statements” option.
6. Tap “Statement” under money market account type to view and download your account statement as a PDF.

 

Online service portal

1. Navigate to the online portal for Zimele e-statements.
2. Select “New Portal.”
3. Select “Check Statements.”
4. Tap on “Statement” under the Unit Trust Accounts section for money market.
5. The details of your account statement will be displayed, and you will have the option to download the statement as a PDF.

 

What you need to know about Zimele money market fund withdrawal

Zimele currently provides two withdrawal options from the money market fund, including the Zimele mobile app and online service portal.

Similarly, the Zimele money market fund allows you to withdraw funds via Mpesa and bank transfer, which is extremely convenient. Electronic funds transfer (EFT) or real-time gross settlements are the two methods used by banks to make payments (RTGS). ETFs are for funds worth more than 1 million, whereas RTGS are for funds worth less than 1 million.

Withdrawing funds via Mpesa takes 1-2 days and up to 3 days via bank, and payments are wired directly to your bank account.

The advantage of Zimele is that you can liquidate all or part of your investment and transfer the funds to your bank or Mpesa.

Here’s how to use the online service portal to request a withdrawal:

1. Login in to Zimele online portal.
2. Select the “Withdrawal” tab.
3. Choose the Unit Trust Money Market Fund.
4. Select “Individual.”
5. Fill out your information correctly.
6. Choose your preferred payment method and provide the details i.e. either Mpesa or bank transfer.
7. Enter the withdrawal amount and agree to the terms and conditions.
8. Click the “Submit” button.

 

You can also withdraw funds using the Zimele mobile app, as shown below:

1. Open the Zimele mobile app and select “Withdraw” from the menu.
2. You will be directed to the withdrawal page, where you must enter your information for the withdrawal request. These details include your full names, email address, account number, ID or passport number, phone number, preferred payment method (Mpesa or bank), and the amount you wish to pay.
3. Next, accept the terms and conditions and then click “Submit.”

How to join Zimele money market fund – FAQs

Zimele Money Market Fund contacts

Facebook: Zimele Asset Management

Website:  www.zimele.co.ke

Telephone number: +254 722 207 662 or +254 734 207 662

Email: info@zimele.net

Zimele Money Market Fund Head office: Ecobank Towers 7^th Floor, Muindi Mbingu Street.

 

Wrap up

Above is how to join Zimele money market fund procedure. With it, you can easily join Zimele and begin your investment journey with it.

Finally, the Zimele money market fund is ideal because it provides free online statements, there is no minimum balance requirement, and withdrawals are processed quickly.

Invest now because you cannot go wrong with a Money market fund!

 

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