I&M Bank launched its “Shinda Millioni” campaign some time back with the aim of encouraging a savings culture by rewarding top saving customers. This is because savings are crucial for ensuring financial security, providing a safety net for emergencies as well as enabling long-term goals.
In as much as savings are important, as a country we have a very poor savings culture. A study conducted by FG Hermes in 2021 indicated that Kenya’s saving rate is at 12% which is way below Africa’s average of 17%. Also, the saving rate among many homes in Kenya is low compared to other countries with lower or similar per capita income such as Uganda and Tanzania which have recorded over 20%.
Which is why one cannot help but appreciate I&M Bank for their efforts in trying to change the savings narrative in Kenya. This is because the campaign not only gives customers a chance to win big but also encourages smart banking habits that can transform their lives.
Incase you are wondering what the campaign is all about, here are five things that you need to know.
Eligibility
The campaign is open to both new and existing customers with everyone getting an equal chance to be able to win big. If you are new to the bank, you can open an account by visiting a branch or online via the I&M Bank OTG App. So, don’t be left out of a chance to become an overnight Millionaire.
Rewards
Participants in the campaign will get a chance to win weekly prizes as well as a monthly grand prize. Over the next three months, the bank will award 10 customers with KES 50,000 each on a weekly basis. Each month during the campaign, there will be a grand prize winner who will receive KES 1,000,000.
Time
The campaign will run for a period of three months, that is from August with the culmination being in November. Given the short time frame, start saving with the bank now and stand to win big.
Deposits
The I&M Bank promotion is not just for those people with big bank balances with the everyone being eligible to participate. Essentially, for every KES 2,000 average cleared balance maintained in their accounts, customers will earn one entry point into the weekly and monthly draws. It is essentially a win-win situation whereby the more you save, the more financially secure you become and the closer you get to walking away with a prize.
It’s About Growth
Other than the cash prizes, the Shinda Mamilioni campaign encourages a culture of financial growth and discipline. It nudges customers to embrace a savings culture which is key to ensuring financial security, growth as well ensuring peace of mind.
So, what are you waiting for? Start saving with I&M Bank for a chance to win big as well as embark on a journey towards financial security and prosperity.