What is F&K Savings?

F&K Savings is a digital platform (website & app) that is committed towards helping you achieve your financial goals with ease. With F&K Savings you can save money, invest and raise funds. We have designed our process to be really friendly, exciting and simple.

How do your plans work?

We have varying saving plans designed to ensure that no matter what your saving goal or style is, you are sure to find a saving plan that works for you. These are how the respective plans work; - FLEX: This plan is designed to help you save towards short term goals or funds you would like to access really soon in the future. On a flex savings plan, your money earns an interest of 4% (accrued daily) and you can’t withdraw your funds till after 21 days from the date you created your plan. - GENERAL: A general plan lets you save money for a time period e.g. 2 months, 3 months etc. If you choose a general plan, you can’t withdraw from your funds at all until you are halfway into the duration of your plan. So say you set your general plan for 3 months (90 days), you’d be unable to withdraw till you are at least 45 days in. Under a general plan, your money earns an interest of 8% (accrued daily) If you do need to withdraw your money before having met the specified requirements, then you’d have to pay a 5% penalty fee. - TARGET: This is designed to help you save strictly towards a very specific money goal e.g. a specific money amount or a specific date. Let’s say you want to save between now and 17th of December this year or you want to save #500,000 then a target plan is what is right for you. Under a target plan, your money earns an interest of 12% (accrued daily) and you can’t withdraw your money under any condition till you have met the goal you specified at the start of your plan.

How can I link my debit card to automate my savings?

To link your debit card, click on the card option for saving. You’d see a prompt that asks if you would like to automate your savings. Tick the Yes option, specify when you’d want the money deducted and enter your debit card details.

How can I unlink my debit card to stop automating my savings?

To unlink your debit card from a savings plan, click on the savings plan, you’d see a toggle button that lets you unlink the debit card.

What is the minimum amount I can save?

The minimum amount you can save on F&K Savings is #200 only.

I transferred money into my savings account but it’s not reflecting on my dashboard. Why?

On our end, immediately we receive the money you have saved, it reflects on your dashboard. However, if there is a delay, it might be due to the bank you are using to process your saving transaction.

Are there bank charges when money is deducted into my savings plan?

No! There is no bank charge attached whatsoever.

I don’t want interest on my savings. Is there a way I can stop that?

Sure! Tap on the more icon from your homepage and click on ‘preference’. From here, you can switch off interest on your savings.

I referred someone but I am yet to get my referral bonus. Why?

When you refer someone onto F&K Savings, your referral bonus is activated when the person you referred saves at least #1,500.

When can I withdraw my referral bonus?

To withdraw your referral bonus, you need to have at least #1,000 in your referral account.

What is Collabo and how does it work?

Collabo is a feature that lets you save money with your acquaintances or friends towards a common money goal. So here is how it works, one of you creates a collabo group and sets the target amount and then invites the rest of the crew to join the collabo group.

How do I know my money is secure with you?

First of, we use a PCI compliant payment processor to help secure your savings and data. Your card details and payment gateway for the transactions you make are secured by Paystack. (Nigeria’s foremost financial security platform). And all investments with us are secured with top-tier investment firms both within and outside the country.

Where is your office located at?

Our head office is located at No 3, Ayo Adekunle Close, New Bodija Estate, Ibadan, Oyo state.

Do I have to login every time I want to perform an activity on the app?

Yes and it works this way for security reasons so no one can just access the funds you have saved. However there is a quicker and much easier way to log-in with the finger print option. To enable fingerprint, go to More >> Preference >> Finger Print ID.

How does Investing with F&K Savings work?

As the whole goal of investing is to get your money working for you and earn passive income. We have a wide range of low-risk and verified investment opportunities for you to choose from and each of them lasts for a unique duration and comes with their own specific interest rates so you can easily choose the one that works for you.

What’s the minimum amount I can invest with?

This depends on the investment option you opt-in for.

How can I fund my investments?

You can fund your investments either by linking your DEBIT CARD or through BANK TRANSFERS. Immediately your investment payment is received, it would reflect on your dashboard.

How do I withdraw my investment funds?

Upon maturity of your investment option(s), you can immediately withdraw your fund plus the interest on top, the matured section of your investment dashboard shows you your investment options that have matured and you can withdraw from.

Is my investment insured?

Yes! Every investment option listed on F&K Savings is insured and properly covered.