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Savings Clouds are designed to help you save and budget your money more effectively.
Each Cloud is a customizable category where you can allocate your savings for different financial goals. These Savings Clouds are linked to a Sharia-compliant mutual fund named Thndr Savings.
How can I use the Clouds?
Clouds are customizable savings categories within the Savings Wallet. You can create, name, and top up these Clouds based on your goals, such as travel, education, or emergencies. You can also transfer money between Clouds as your priorities change.
How do I add money to my Clouds?
You can add money to your Savings Clouds in 2 ways:
- Go to your Savings Clouds, create a new Cloud and top it up.
- Go to your Investment Wallet and use the Transfer button to move money to one of your Savings Clouds.
Are Savings Clouds Sharia-compliant?
Yes, your funds are securely managed and linked to an FRA-regulated, Sharia-compliant fund (Thndr Savings), supervised by a Sharia board headed by Dr. Khaled El Guindy, ensuring a secure and ethical way to grow your savings.
What kind of gains will I see in my Savings Clouds?
The gains you’ll see are based on the difference in the certificate price of the Thndr Savings fund linked to your Clouds.
As the value of the certificate increases, so does the value of your savings. These gains are calculated daily and reflected based on the fund’s performance.
How do Savings Clouds help with budgeting?
The Clouds introduce a goal setting system, allowing you to allocate funds to different goals and track your progress. You’ll be able to monitor your progress and adjust contributions as needed to meet your financial targets.
How often are my gains updated?
The certificate price of the fund is updated daily, ensuring you always see the most up-to-date value of your total savings.
Can I move money from my Clouds anytime?
Yes, you can transfer your money from any Cloud to your Investment Wallet at any time, and it will reflect instantly.
