Spend+Save

How does Spend+Save work?

Tap the Spend+Save button on your Kuda dashboard, set a percentage to save every time you spend from your Kuda account and we’ll save it for you automatically.

How much interest can I get with Spend+Save?

We don’t pay interest on Spend+Save.

Flexible Savings

How do Flexible Savings work?

Tap the Savings button on the dashboard, tap Save Now then choose Flexible and follow the prompts on your screen to set up your goal. We’ll move money to your savings from your Kuda account or bank card daily, weekly or monthly until you meet your target.

How much interest can I get with Flexible Savings?

We’ll show you a specific interest rate before you launch your Flexible Savings plan.

How long do I have to wait before I can withdraw from my Flexible Savings?

You don’t have to wait to withdraw but if you withdraw more than 20% of the amount you set as your savings goal, you will only get the principal - the amount you started the plan with. All the interest you've accrued will be lost.

Is there a penalty for withdrawing all my Flexible Savings before the maturity date?

Yes, you’ll lose all the interest you've accrued and your savings plan will be deleted automatically.

Will I pay tax on my Flexible Savings?

Yes. In line with government regulations, we will subtract 10% of your accrued interest as withholding tax before payout on your plan's maturity date.

Fixed Savings

How does Fixed Savings work?

Tap the Savings button on the dashboard, tap Save Now then choose Fixed and follow the prompts on your screen to save.

How much interest can I get with Fixed Savings?

We’ll show you a specific interest rate before you launch your Fixed Savings plan.

How long do I have to wait before I can withdraw my Fixed Savings?

You have to wait until the maturity date to withdraw your savings otherwise you'll lose all your interest.

Is there a penalty for withdrawing my Fixed Savings before I've saved my target amount?

Yes, you’ll lose all your interest and your savings plan will be deleted automatically.

Note: If you'd like to earn interest on your Fixed Savings, you can't withdraw from it before its maturity date.

Will I pay tax on my Flexible Savings?

Yes. In line with government regulations, we will subtract 10% of your accrued interest as withholding tax before payout on your plan's maturity date.

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