Standard Chartered Bank Kenya has announced the removal of the one percent upfront fee charge on its online money market fund, along with a reduction in the minimum entry investment from $10 to $5. This strategic move is aimed at expanding the accessibility of the fund, which had accumulated $20 million in assets under management by the end of August.
The bank offers this investment service through its digital platform, the SC Mobile app. The online money market fund primarily invests in short-term assets such as bank fixed deposits and Treasury bills, allowing investors to access their funds quickly while earning returns.
