Thank you for downloading and using Ziing.
It means a lot to us.
Over the past few months, there has been a reduction in the interest rates of investments your monies are usually put in. These include treasury bills, bonds and money market instruments. Based on this, and the act that these rates have continued to fall over time, we’re reviewing our rates.
We’ve been able to hold off reducing your interest rates for the past few months, however, it is imperative that we review this now to reflect current market realities.
From Saturday 8th August 2020, we’ll we reviewing our rates downward.
zSave: Interest rates on the funds in your zSave will now earn a 4% return per annum. Your prorated earnings will be paid at the end of every month.
As always, you can make unlimited withdrawals, buy airtime and pay bills without forfeiture of interest.
zPlan: The interest rates on your plans will now be graduated. This means that the interest on your goal will be calculated based on the length of time for your goal, and also other factors like if your goal is locked. This will range from 4% – 10% per annum.
This interest rate is determined when setting up the goal.
0 – 60 days (1 – 2 months) – 4%
61 – 180 days (2 – 6 months) – 6%.
181 – 365 days (6 – 12 months) – 7.5%
Above 365 days (1 year and above) – 9%
0 – 60 days (1 – 2 months) – 4.5%
61 – 180 days (2 – 6 months) – 6.5%.
181 – 365 days (6 – 12 months) – 8%
Above 365 days (1 year and above) – 10%
P.S: Locked goals cannot be liquidated before the goal’s set maturity date.
At all points in time, you will be able to view your interest rate and interest earned either on the web, or on the mobile app.
Does this affect my current zPlan goals?
No. Only goals set from 8th August 2020 will be affected by this change. All previously existing goals (funded and unfunded) will still earn the previous rates.
The Ziing Team.