Airtel Money Uganda has teamed up with SchoolPay and Sanlam Investments to introduce SchoolPay Savings, a new way for parents to save for their children’s school fees. This service aims to make paying school fees easier and less stressful for families across Uganda.
SchoolPay Savings lets parents save small amounts starting from just Shs 5,000 whenever they want. There are no strict schedules or minimum balance rules. The savings earn 8% interest each year, calculated daily, helping parents grow their money over time. Best of all, there are no fees when withdrawing money to pay school fees directly from the savings account.
Japheth Aritho, Managing Director of Airtel Mobile Commerce Uganda, said, “Paying school fees can be a big worry for many families. SchoolPay Savings helps parents plan ahead, save gradually, and earn interest, so they feel confident when fees are due.”
Using the service is simple. Parents can access it by dialing *185#, selecting “School Fees,” and choosing “SchoolPay” to follow the steps. The savings are safely invested through Sanlam’s Unit Trust Scheme, which is regulated by Uganda’s Capital Markets Authority.
Giles Aijukwe, CEO of Fincom Technologies, which runs SchoolPay, said they want to make school fees payments easy and stress-free.
“With SchoolPay Savings, parents can save smarter and make every shilling count for their children’s education,” he said.
Key benefits of SchoolPay Savings include:
- Start saving with as little as Shs 5,000
- Earn 8% interest yearly, calculated daily
- Withdraw money anytime without restrictions
- No fees when paying school fees
- Secure savings through a regulated investment plan
The service is available only to parents using the SchoolPay platform to pay school fees, making saving and paying seamless.
