What is Tunzi?

Tunzi is a mobile-based saving and investment application that utilizes behavioral psychology and gamification to enable users to save via mobile money. You can create saving goals individually or with friends and save toward them on the app.

Why should I use Tunzi?

Tunzi helps you turn your intent to save into action. It allows you to save both as an individual and a group to achieve short- and long-term financial goals and objectives.

It is personalized to your day-to-day experiences to help you find your saving sweet spot and accelerate savings habits through goals, saving rules & challenges, and a great user experience.

How does it work?

The app enables you to create financial goals and set savings reminders for them. Additionally, the app will send you prompts to save money at the end of the week, at the end of the month, and based on how you spend

How do I get started?

Download the Tunzi app from the Google Play Store or App Store  here.

Create an account and start saving

How are other people using the Tunzi app?

1. The app lets you set alerts on when to save based on your mobile money transactions, a key feature users utilize. For example, you can select the app to remind you to save when you spend in a restaurant or pub or receive mobile money. You can also set the app to round down your mobile money balances; for example, if you have RWF 3550 on Mobile money, the app will ask if you would like to save the RWF 50 on top.
2. We have also observed a lot of parents using the app to create goals for their kids and show them how to save the money they get, how interest grows, have delayed gratification, and set their targets.

How much can I save?

You can save from as low as RWF 50. There is no maximum limit. You can also do subsequent top-ups of any amount at any time to your saving goals.

Do you give out loans?

We do not give loans. Tunzi is a savings and investment product.

How does Leaderboard work

Tunzi App's leaderboard features actual top personal goal savings data, with names altered for privacy. Surpass any amount to appear on it. The leaderboard ranking resets every Sunday.

Withdrawal and Deposit fees.

Withdrawal duration

All withdrawal requests usually take 48 hours to be processed and published.
We also strive to have a good turnaround time of 24 hours. If you withdraw today, you will receive the funds the next day from 4 pm onwards.

What does Tunzi charge?

Tunzi charges a platform fee equivalent to a fixed differential fee of 2.5% of the interest distributed by the fund fund manager.

Why the 24-48 hours?

We offer interest; thus, the funds are invested. Forty-eight hours allows us to uplift funds from investments and complete the withdrawal.

We also use it as a way to guide people in avoiding impulse withdrawal

Security and safety of funds

1. We are authorized to operate by the Capital Markets Authority (CMA)
2. All funds deposited through the app are held in a custody Bank.
3. All investments are handled by a Fund Manager Partner - BK Capital.
4. The app enforces bank-grade security. Our engineers previously worked on core banking solutions, so we mean it when we say bank-grade security.

How is interest earned?

Funds saved on Tunzi are invested to earn interest issued by the fund manager. The interest accrues daily.

Penalty Charges

Clients can create normal goals, meaning they can withdraw money anytime or lock their goals for a higher interest for at least three months. If you have locked your funds, you have to wait for the lock period to end, but If you decide to withdraw early from the locked goal, you get a penalty by losing half of the interest you had earned. This is meant to enforce a saving discipline.

52-week challenge and Normal goals do not have a penalty for early withdrawal

How to contact our customer support

You can use the help button on the app under your profile. It takes you to our WhatsApp chats.

Do you get charged on interest earned?

No, the interest you earn is all yours.

Can people from the diaspora access the App?

Yes, if you are a Rwandan and have an active MTN number, you can sign up and use the app.

Can people from the diaspora access the App?

Yes, Tunzi plans to expand to other countries in East Africa, with Uganda and Tanzania being among the key countries. We are already active in Kenya

Summary: Why should you join Tunzi?

1. It enables you to create SMART (Specific, Measurable, Achievable, Realistic, and Timely) goals where you can visualize them and get reminders, including a 52-week challenge.
2. You can save as a group with friends, and withdrawals only happen when everyone approves the withdrawal for funds security.
3. You can opt into a feature to remind you to save when you spend in a pub or a restaurant.
4. You can use it to create goals for your kids and guide them on how money grows, setting goal targets, and discipline in saving.
5. It is a fun way of saving, and you earn interest while at it
6. You will join a community of savers, and we will share content on saving and financial literacy
7. We partner with licensed fund managers who give the funds a return, and funds are deposited to a custodian bank account under our fund manager
8. The Capital Markets Authority regulates us
9. It's easy to save and invest in Tunzi. In 3 clicks, you have saved your money from mobile money, and you can save as low as RWF 50

How do you start saving?

Tunzi helps you adopt saving habits designed to fit your lifestyle. This is achieved through rules, reminders, challengesand goals that you can customise to help you start saving.

Rules on the app are Quick Save, Round down & Save on Spend

Challenges on the app are the 52-week Savings Challenge

Goals on the app can be personal or group and they can be further customised and specific in categories available on the app as well as have reminders to alert you to save.

What saving categories are available on Tunzi?

We have most of the saving categories preset, so you can easily select one when creating a goal.

However, if you have a category that is not in the preset options available, you can create a custom category.

Some of the already preset categories include:-

• Rent
• Insurance
• Education
• Business
• Emergency
• Clear Debt
• Eat Out
• Furniture
• House
• Kitchen Ware
• Electronics
• Life Event
• Movies
• Shoes
• Shopping
• Land
• Tech Gadgets
• Travel
• Vacation

What are normal goals vs locked goals?

Once you identify a category of choice, you proceed to create a personal goal for that category.

The goal can be a normal goal i.e you save and have the liberty to withdraw the money during the saving period. It currently earns an interest of 6% pa and it is distributed daily.

The goal can also be a locked goal i.e you save and lock your money for a given period. It currently earns interest at 8% pa and it is distributed daily.

What are personal goals vs group goals?

Personal goals are created and customised to your liking i.e you pick a preferred category, and a preferred name and even schedule reminders as to when you want to contribute to them.

Group goals are created and customised to the group's liking i.e you pick a preferred category, a preferred name & a target. Once done, you have the option to invite members you'd like to save with.

How many personal goals can I have?

There is no limit to the number of goals that you can create. Tunzi seeks to empower you to achieve as much as possible.

Can I monitor my savings?

Tunzi is designed with monitoring in mind. There is a progress bar on your savings goals against your target goal amount.

You can also go to your profile and click on the arrow next to the "Your savings" button to see all your savings history.

What is Tunzi group savings?

Tunzi Groups is a saving feature designed and optimised for group savings. You simply create a goal, invite other members and start saving.

How many people can a group have?

A saving group can have a minimum of 2 members and a maximum of 15 members.

How many group goals can I create?

There is no limit to the number of group goals you can create.

How do group withdrawals work?

The person who creates a group goal is by default the group admin. They can thereafter add 2 more people to be admins.

Any of the group admins initiates a withdrawal request.

Each group member receives the withdrawal request and approves or rejects the withdrawal.

Once everyone approves, the withdrawal is submitted for processing and the person designated to receive the money will receive it.

What is a group chat feature?

Group chat is a feature that enables group members to easily communicate with each other through chat messaging.

What is Quick Save and how does it work?

It's a savings account that is automatically created on registration and enables you to make immediate savings that you are yet to assign to a goal.

Deposits in this account earn interest at 6% pa.

You can't withdraw funds from Quick Save, however, you can transfer funds to an existing goal and thereafter withdraw the funds.

Funds that you save from other saving rules i.e Round Down and Save on Spend are directed to this account.

What is the 52-week challenge?

It's a saving challenge where you save a certain amount weekly for 52 weeks, and thus a year.

How does it work?

You select a base amount you want to start saving for week 1. The following week you save a factor of the base amount you started with, and increase the amount each week, with the initial amount.

What amount do I start with for week 1?

You choose the amount to start with. The most common ones are RWF 50 and RWF 100. If you select RWF 50, the following week you will save RWF 100, then RWF 150 on the next, and so on.

You will have saved RWF 68,900 at the end of the challenge. If you select RWF 100, you will have saved RWF 137,800 at the end of the challenge/year.

Must I start with a low amount?

Our 52 weeks savings challenge is flexible and lets you choose whether to start with a low amount or a high amount at the start of a challenge.

If you choose to start low you will start with a low amount and the amount to be saved will increase weekly as you near week 52. If you choose to start high, you will start with the highest amount and the figure to save will decrease weekly as you near week 52.

When can I start my challenge?

With Tunzi, you can start your 52 weeks at any week of the year, which will be used as your week 1. Most people prefer to start with the first week of January as week 1.

Does money in the 52-week challenge goal earn interest?

By default, all deposits made via Tunzi earn interest. The 52 weeks challenge earns interest at a rate of 8% pa and the earned interest is distributed daily.

Does my money earn interest?

Your funds earn interest the following day after you make a deposit and daily thereafter. Interest is credited daily to your respective goals.

Deposits in Quick Save and Normal goals earn interest at 6% pa. Deposits in the 52-week Challenge & Locked goals earn interest at 8% pa.

How do I withdraw?

For normal goals, you can withdraw your funds at any time, this can be a partial or the full amount of that goal.

For locked goals, you can only withdraw your funds after the lock duration. This can be a partial or the full amount of that goal.

Upon a successful withdrawal request for both personal and group goals; you will receive funds within 48 hours or less, excluding weekends and public holidays.

You will incur the indicated charges when withdrawing funds.

Here is a step-by-step guide:

• Tap on a goal.
• Click on the View more details icon.
• Click on the withdraw icon.
• Withdraw a partial or the full amount of that goal.
• You will get the funds in your MOMO within 48 hours, excluding weekends and public holidays.

Can I withdraw from the Quick Save?

To withdraw money from Quick Save:

• Create a personal goal
• Transfer the money from Quick Save to the personal goal.
• Withdraw from the goal.

How long does it take to get money after withdrawal?

Once we get your withdrawal request, you will get the funds within 48 hours, excluding weekends and public holidays.

Why does it take 48 hours to get withdrawals?

We offer interest, thus we need to invest the funds. 48hrs allows us to uplift funds from investments and complete the withdrawal.

How much does it cost?

Tunzi is free to use. No monthly charge, no maintenance cost, no other charges.

The only cost you will incur is when you are withdrawing from your goals.

Who is behind Tunzi?

Our team is made up of people from diverse professional and academic fields.

From computer science, finance, actuarial science and partners who have business reach in several African countries.

Read more here Our Team

Does Tunzi have an office?

Our offices are located at KN 30 St, Kigali, Rwanda.

Website: https://tunzi.money

Our WhatsApp helpline:  +250795755454

Email: info@tunzi.money

Partnerships Email:  partnerships@tunzi.money