Old Mutual is one of the best companies for Money Market Fund in Kenya. Below we review the company’s MMF,how to join,Paybill & payment methods, interest rate and contacts.
How to join Old Mutual Money Market Fund
Documents required
Copy of the ID or Passport
Certified bank statement or ATM card
Copy of PIN certificate
Note that, Corporate applicants have additional requirements as per the checklist on the form.
You can visit any of Old Mutual offices and fill in the application forms or request a financial advisor to visit you and guide you through the sign up process.
Once you have these documents, you can contact the company to start the process of the offices to fill the required details. The process takes few minutes.
Here are the contacts for the company:
Email:clientservices@oldmutualkenya.com
Phone: 0711 065 10
Old Mutual MMF payment methods
USSD: By dialling *480# on your i-INVEST registered phone number and selecting the invest option.
Standing Order: Place a standing order by providing instructions to your bank to pay to your unit trust account.
M-PESA Pay: Pay via your mobile phone. The M-PESA Pay Bill number is 600500. The Account Number refers to your unit trust account number.
Bank Transfer: You can transfer funds from your bank account to our various Inflow Accounts at KCB provided:
KENYA COMMERCIAL BANK, CUSTODY SERVICE BRANCH
Old Mutual Money Market Fund
- Account Name: Old Mutual Money Market Fund
- Account No. 1102369705
Old Mutual Balanced Fund
- Account Name: Old Mutual Balanced Fund
- Account No. 1102370444
Old Mutual Equity Fund
- Account Name: Old Mutual Equity Fund
- Account No. 1102370754
Old Mutual Bond Fund
- Account Name: Old Mutual Bond Fund
- Account No. 1102400750
Old Mutual Dollar Money Market Fund
- Account Name: Old Mutual Dollar money market Fund
- Account No. 1318304717
Swift Code: KCBLKENX
KCB CUSTODY BRANCH CODE 01133
Old Mutual Kenya MMF Interest Rate
The interest rate ranges between 11% and 13% per year . Investors earn interest daily and it’s compounded monthly.
If you invest Ksh1 million and the interest is 11%,you will earn over Ksh110,000 per year. This is better than saving your money in Fixed Deposit Account.
Old Mutual minimum deposit
Old Mutual Minimum deposit is Ksh 1,000 and additional deposit amount is Ksh1,000.
Is Old Mutual MMF a good investment?
Reviews show that Old Mutual MMF is a good investment product. Kenyans have invested with it and they are happy because of the returns they get.
Old Mutual is regulated by the Capital Markets Authority. Investors are protected,hence they won’t lose their money.
One reason you should invest here is because the product will instil financial discipline. You will develop the culture of saving and eventually gain financial freedom.
The money you invest will help you develop something in future. You can withdraw when it’s enough, use it to buy land and build apartments or build a house for the family.
MMF funds will also help you with emergency funds. It’s easy to withdraw money from Old Mutual Fund. All you need is to write an email to them, indicating the amount to withdraw. You will get the money in your account within 48 hours.
Another advantage is that it’s a safe investment. It’s even better to invest in MMF than saving your money in a Sacco. We have seen saccos collapse and members losing their savings. But with MMF,your money is safe.
It’s also hard to earn interest of 13% and above from fixed deposit account or any other investment in Kenya.
