Saving money has become easier than ever in Kenya, thanks to mobile technology. With just your phone, you can now automate your savings, set financial goals, and earn interest, all through smart saving apps. Whether you’re saving for school fees, a side hustle, or an emergency fund, the right app can help you stay disciplined and grow your savings consistently. In this article, we’ll review the best saving apps in Kenya in 2025, based on user experience, features, security, and compatibility with M-Pesa and local banks.
Why Saving Apps Are Popular in Kenya
Kenyans are embracing digital finance. With over 30 million M-Pesa users, mobile savings have become more accessible and flexible than traditional banking.
Saving apps in Kenya allow you to:
- Automate daily or weekly savings
- Lock money for a specific time
- Earn interest on idle cash
- Create specific goals (like rent, school fees, business capital)
- Avoid spending temptations
Key Features We Considered
To create this list, we looked at apps that:
- Are available to Kenyan users
- Work with M-Pesa and local banks
- Offer goal-based savings or interest
- Are regulated or trusted by financial institutions
- Have strong user reviews and usability
1. M-Shwari
Best for: Simple savings + instant loans
Available on: Safaricom SIM Toolkit or M-Pesa App
M-Shwari, offered by Safaricom and NCBA, is the most widely used savings product in Kenya. It allows you to save and borrow straight from your M-Pesa account.
You earn up to 6.3% interest annually on locked savings and can access emergency loans anytime.
Pros
- Easy to access via M-Pesa
- Lock savings for specific periods
- No charges to save or withdraw
Cons
- Low interest if you don’t lock savings
- Loans depend on savings and M-Pesa usage
Tip: Use the Lock Savings Account feature to earn higher interest and avoid unnecessary withdrawals.
2. KCB M-Pesa
Best for: Saving and borrowing through your M-Pesa wallet
Available on: M-Pesa Menu or M-Pesa App
KCB M-Pesa is a partnership between KCB Bank and Safaricom. It allows you to save and apply for mobile loans with flexible repayment.
Your savings can earn up to 6.65% annual interest, especially if you lock the funds for a specific time.
Pros
- Fast access to loans and savings
- Fully mobile, no branch needed
- High-interest rates on locked accounts
Cons
- You need frequent M-Pesa usage to increase your loan limit
- No custom saving goals
Tip: If you borrow from KCB M-Pesa, repay early to increase your future limits and avoid penalties.
3. HF Whizz
Best for: Goal-based savings with a mobile-first experience
Available on: Google Play Store & App Store
HF Whizz is a digital banking app from Housing Finance Group. It allows users to create custom saving goals (e.g., school fees, rent, holidays) and track their progress.
Pros
- Goal-specific saving accounts
- Free transfers from M-Pesa or bank
- Regulated by CBK (Central Bank of Kenya)
Cons
- Needs internet to use
- App can be slow on older devices
Tip: Use the “Create a Goal” feature and set automatic M-Pesa top-ups weekly to stay consistent.
4. Chumz
Best for: Saving in a group or with friends
Available on: Google Play Store & App Store
Chumz is a locally developed savings app that makes saving fun and social. You can set individual goals or save together as a group (like a digital chama).
It encourages saving through behavioral nudges like reminders, motivational quotes, and gamified tracking.
Pros
- Supports group savings
- Connects to M-Pesa
- Local app with good customer support
Cons
- Still growing, fewer features than banks
- Not ideal for large amounts
Tip: Use Chumz with your chama group to track contributions and set up shared financial targets.
5. Pezesha
Best for: Saving with credit-building options
Available on: Mobile web and integrated in partner apps
Pezesha helps users build a digital financial profile. While it started as a lending platform, it now includes structured savings tools to improve creditworthiness.
Pros
- Integrated with loan and credit tools
- Helps build financial identity
- Suitable for SMEs and entrepreneurs
Cons
- Not a traditional savings app
- May require verification and KYC
Tip: If you plan to borrow in future, use Pezesha to build a savings history and improve your loan access.
6. Absa Timiza
Best for: Combining banking, saving, and insurance
Available on: Timiza App (Google Play & App Store)
Timiza, powered by Absa Bank Kenya, offers mobile banking services including loans, bill payments, and goal-based savings. You can deposit from M-Pesa and manage your funds easily.
Pros
- All-in-one banking app
- Offers personal accident insurance
- Custom saving goals
Cons
- Requires smartphone
- Charges apply for some services
Tip: Use the savings goal tracker to set up multiple targets like “Holiday in Mombasa” or “Emergency Fund 2025.”
7. Stima Sacco Mobile App
Best for: SACCO members who want mobile savings
Available on: Android & iOS
If you’re a SACCO member, apps like Stima Sacco Mobile let you track your savings, deposits, and loan balances in real-time. It’s ideal for users already in organized financial groups.
Pros
- Great for long-term saving
- Transparent contributions and loan records
- Backed by SACCO principles
Cons
- Limited to members only
- Less flexibility than mobile-only apps
Tip: Consider combining your SACCO savings with a flexible app like Chumz for daily or weekly targets.
How to Choose the Right Saving App in Kenya
When choosing a savings app, consider the following:
| Factor | What to Look For |
| Security | Licensed by CBK or working with a trusted bank |
| M-Pesa Integration | Easy top-up and withdrawal from M-Pesa |
| Interest Rates | Check annual interest, especially for locked savings |
| Goal Features | Ability to set and track personal saving goals |
| User Reviews | 4.0+ star rating on Play Store or App Store |
FAQs About Saving Apps in Kenya
Which saving app is best for students in Kenya?
Chumz and M-Shwari are great for students due to ease of use, flexibility, and low barriers to entry.
Can I earn interest using saving apps?
Yes. Apps like KCB M-Pesa, M-Shwari, and HF Whizz offer annual interest ranging from 6%–7% for locked savings.
Are these apps safe?
Most of the mentioned apps are regulated or partnered with Kenyan banks and are considered safe. Always confirm licenses, especially for lesser-known apps.
Final Thoughts
With the rise of digital finance, saving money in Kenya has never been easier. Whether you’re looking for daily savings, interest-earning accounts, or group saving tools, there’s an app for you.
Start small, be consistent, and take advantage of automation to hit your financial goals faster.
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