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New SchoolPay Savings scheme launched by Airtel Money, SchoolPay, and Sanlam to support parents

By ENSLive @ eNovaStories Live on:

Airtel Money, SchoolPay, and Sanlam launch SchoolPay Savings to ease parents' financial burdens

A new savings product launched to help Ugandan parents plan and pay school fees stress-free while earning interest.

Airtel Money Uganda, in partnership with SchoolPay and Sanlam Investments, has launched SchoolPay Savings — a flexible and secure way for parents to save for school fees, earning 8% annual interest with no fixed schedules or minimum balances.

Parents can start saving from as low as 5,000 UGX anytime and enjoy zero withdrawal charges when paying fees directly from their savings wallet. The funds are invested securely through Sanlam’s regulated Unit Trust Scheme.

Key features include:

  • Savings from 5,000 UGX to 5,000,000 UGX per transaction
  • 8% annual interest, calculated daily
  • Instant, flexible withdrawals
  • No charges on school fee payments from the wallet
  • Funds managed by Sanlam Investments and regulated by the Capital Markets Authority
  • Easy USSD access via *185#

SchoolPay Savings is available now for parents paying fees through SchoolPay, promising to transform how families manage education expenses.

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