How To Save And Invest With SumoTrust In 2022

How To Save And Invest With SumoTrust In 2022

About Sumotrust

How to save and invest with Sumotrust in 2022

Do you know that with Sumotrust, you can choose to save and invest your money to earn profit returns annually? Oh! Yes, Sumotrust has come to stay and to dominate fintech in Nigeria, that is why it focuses on a mission to help users save and manage their finances in order to accomplish its mission.

Sumotrust is a product of Sumo Tech Global limited, registered as a digital financial platform with CAC (Corporate Affairs Commission)as a private limited liability company to provide financial services to its users. It is also an automated platform established to help Africans build wealth through micro-savings and investment.

 Its also a trusted platform in partnership with Flutter wave as its payment processor because they are highly regulated, licensed, and monitored by CBN (Central Bank of Nigeria).

The company was launched in August 2018 as SumoBank before it was later rebranded SumoTrust on the 27th of December 2019 as published on the Sumotrust blog. With its head office located at House 4, Suite 1, Ifeanyi Okowa street, River Park Estate, Lugbe, Abuja Federal Capital Territory, Nigeria.

 Why Choose Sumotrust

Sumotrust is a digital trusted, secured savings and investment platform which encourages users to save, learn, invest and earn 10-24% of the total amount saved per annum depending on the account type chosen. Here are some reasons why you should choose Sumotrust;

Unlike other platforms or commercial banks, Sumotrust does not charge its users for SMS, withdrawal, maintenance, or any transaction. This means that all transactions on Sumotrust accounts are totally free of charge.

Another important reason to choose Sumotrust is that the platform pays its subscribers’ high-Interest rates.  Interest returns on Sumotrust are much higher compared to commercial banks.

Sumotrust is a highly trusted and strongly secure platform. It is secured by a powerful blockchain security protocol to ensure the safety of its users’ accounts from hackers. 

The platform was built with the financial security of users in mind and because of that all customers’ financial information is encrypted and securely stored to PCI DSS Level 1 compliant standards. Flutter wave and Pay stack securely handles all users card details

Also, the Sumotrust website is secured by 256 bits SSL security encryption to ensure that all your information is completely protected from fraud, and accessing the website is very secure to use.

How To Save With SumoTrust 

Sumotrust is flexible, that’s why the platform has given users an opportunity to save just about any amount to enable them to raise funds for whatever purpose. users have the authority to decide on when to save and how much to save, everything is also under your control.

You can save daily, weekly, or on monthly basis, Sumotrust allows you to save between;

100-1000 naira daily 

1000-100,000 naira weekly 

5000-5,000,000Naira monthly 

Have you been finding it difficult to save? This first quarter of 2022 is the best time to cultivate a good saving culture which is why Sumotrust is all you need. There are flexible options that will allow you to save smarty and easily. 

AutoSave Option

Sumotrust platform Autosave feature allows users to set auto-debits from their debit card to any of Sumotrust savings accounts until they reach their saving target. 

The Autosave can be set to be daily, weekly or monthly, with the exact time and amount you will want to be debited from your bank account to your Sumotrust account. The funds can go to either main savings account, Fixed/investment account or mission savings account depending on the account selected. 

By using Sumotrust, you don’t need account numbers to save and invest. All you need to get started is to have your ATM card linked to your Sumotrust account for deposits and your account number for withdrawals.

Instant-Save Option

The instant save feature on Sumotrust allows users to add more funds to their savings account. This feature can also be used anytime on any of the account types. 

For instance, if a user misses some days without saving which can be due to some financial difficulties, he or she can use the Instant-Save option to top up their accounts to meet their savings goals. 

This way it encourages you to save, invest and also limits the stress of walking into a bank to deposit funds.

 

SumoTrust Account Types

There are basically three (3) savings accounts and one sub-account in the Sumotrust platform;

Mission Savings Account

A Mission Savings Account is a type of account where users save money for a project. All you need to do; is set a saving mission, amount, and withdrawal date and start saving until the money for the project is reached.

Withdrawals from this account are free provided you have reached your savings target amount.

However, withdrawing money from this account type when you are yet to reach your savings goal attracts a PENALTY FEE of 4.5% charge whether private mission or group mission.

Main Savings Account 

The main savings is a regular savings account that isn’t tied to a particular reason ( i.e. users activate the account in order to save and raise funds for emergencies).

Users automatically choose to save either on daily, weekly or monthly intervals and earn 10% interest per annum. 

Withdrawals on this account are restricted to only withdrawal dates or the exact date you choose to withdraw. A fee of 4.5% charges will be deducted from any withdrawal outside your set dates.

In cases where you missed saving due to insufficient balance in your bank account, you can Instant-Save the amount missed the previous day to make it up and reach your savings goal faster.

Fixed savings account 

This account type allows you to Securely lock away your money for a long period of time (You can Fix Save any amount up to 365 days) and earn up to 15% interest annually.

This means to get 15% interest of the total amount saved; it’s always better to Fix the exact amount at once.

However, you can choose to pay monthly, but please note the 15% interest of the amount fixed is cumulative.

For instance; if you deposit N50000 on 15th October and made subsequent deposits by November etc, it means 15% interest of the N50000 (ONLY which was the initial deposit) deposited will be calculated and paid to your SumoTrust kick account after one year or 6 months (depending on the set time).

Funds deposited to this account cannot be liquidated until the maturity date set by you. 

Kick Account (sub-account)

The Kick Account is a sub wallet account where bonuses and interests of all the amount saved are calculated and paid daily. Funds deposited on this account type do not attract any interest and withdrawals are totally free of charge. 

In order to encourage savings in all SumoTrust account types; there are four free withdrawal dates on SumoTrust and a free adjustable date set aside for users to activate in case of emergencies.

Aside from these set dates; you can withdraw your funds at any time the need arises. But please note, withdrawal outside the free dates attracts a 4.5% penalty charge.

SumoTrust High-Interest Fixed Deposit Account (SHIFDA INVESTMENT)

SumoTrust is a fintech start-up transforming African investment management and revolutionizing access to savings and investment solutions for Africa’s increasing middle class and youth generation.

SHIFDA Investment works exactly like the fixed deposit account but with a higher interest rate for investors.

This investment option enables investors to invest into carefully selected and diverse portfolios for a minimum maturity date of 6 months and a maximum term of 10 years with 24% returns of the total amount invested. 

If you’re a SumoTrust user with 500,000 naira and above looking for a suitable and secure investment plan to venture into this year 2022, then the SHIFDA Investment option is for you. It’s 100% secure and highly profitable. 

How To Register And Join SumoTrust

Are you thinking of how to save and invest with SumoTrust? If your answer to this question is yes, then, you are in the right place.  Everything depends on you and how you want your savings to plan to be.

To register, visit the Sumotrust Registration page here

Once you click on the link above, you will be directed to the Sumotrust page where you will fill in all the required details which include your account name, email address password, and phone number. Please note that the details filled in must match your bank account details. Click on ‘Register’ once done.

Login to your email and click on the confirmation link sent to activate your account and start your amazing journey with Sumotrust.

You can also download the app on Google Playstore with your Android phone, if you are an iPhone user download it here on the Apple store.

Install and click on create an account button to register. if you already have an account with Sumotrust, just click on the login tab, fill in your login details and you are set to go.

Conclusion 

Sumotrust is in partnership with Entrepreneur Platform to incubate business leaders across various sectors and also help people make better business decisions. That is why every user who has an account with Sumotrust do so because they trust what Sumotrust stands for and what it can offer.

The platform is on a mission to encourage and raise young entrepreneurs by encouraging them to save. 

However, Sumotrust users are entitled to benefits like Sumotrust mission support, academy, Sumo loan, and other upcoming context which will be made available soon on the platform.

All in all, don’t be too hard on yourself if you can’t meet up with a big amount to save or invest, you can always start with the small amount first, then increase later when you can handle it.

With Sumotrust you save with simplicity, convenience, and surplus. So register for Sumotrust savings and invest platform today and you will never regret making such a decision. Also, don’t forget to refer your family and friends and earn more as you do.

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