What is kolopay

” One of the smartest things that you can ever do for yourself is to develop the habit of saving part of your salary, every single paycheck. Individuals, families and even societies are stable and prosperous to the degree to which they have high savings rates. Savings today are what guarantee the security and the possibilities of tomorrow.”

But saving is not exactly an easy habit to cultivate especially considering our economic realities in Nigeria and Africa as a whole.

The World Bank rates Nigeria as one of the countries with poorest saving culture (16%) even below Liberia. That figure is not a surprise considering the financial pressure that is on an average Nigerian. Countless bills to be paid on limited income. Though I believe Saving is a cultural practice for a Nigerian but the economic hardship might have stripped us of. I remember when growing up, mothers gave their kids money and expect them to at least save a portion of it. Mothers will ask you days later how much you saved from the sum she gave you days ago.

The word ‘Kolo’ is a Yoruba word which refers to a saving box.  Back in the days, parents tried to teach their young children to save by making or buying them a Kolo.  it is from this root that KoloPay picked her name.

Kolopay provides users a platform that helps you think of yourself first in your finance. That amazing feeling you get knowing that you have at least saved something for yourself before expenses take hold of your income, that’s what kolopay gives you.

On Kolopay you have the freedom to name the goal which you are saving towards and also the period you wabt to save for to achieve the goal

With the Autosave feature, you activate a standing order on your debit card or bank account for a regularly debit of a particular amount to be saved on your KoloPay account at a frequency (Daily, Weekly or Monthly) you prefer  with this feature you are sure

The SaveNow feature is for you if you want to save anytime you have

When you LOCK your account on KoloPay, it guarantees a 6%pa on your saved amount

On Kolopay,there are merchants who provide possible goals (goods and services e.g. Home appliances, events planners, vacations) you could be saving at amazing discounted prices.

KoloPay basically has one major goal which is helping you achieve your goals.

To signup on KoloPay, download the KoloPay app on google playstore or visit kolopay.com

 

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