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Rhapsave

A financial planning product that helps customers to allocate their resources with ease, discipline, flexibility and also provides investment opportunity.

  • Download ‘’Rhapsody Finance App” on Playstore (android) or Appstore (ios) on your smart phone.
  • Sign up and click on the savings product, and select Rhapsave. Click on the edit icon (pen) in the right lower corner of the screen to set up your financial targets.
  • Five
  • One
  • By making direct transfer into the Rhapsave account number provided on the customer’s Rhapsave dashboard (please note that the Rhapsave wallet account number is different from the Main wallet’s account number
  • Yes, click on the “view details” icon on the particular target, click on “edit’’ icon, click on the ‘’lock savings button’’ and the click on ‘’update Rhapsave button’’
  • No, funds in locked targets are not accessible until maturity
  • Yes, but, only unlocked targets can be edited, locked targets cannot be edited. To edit, click on the “view details” icon on a particular target and click on “edit’’ icon to edit the target name, percentage, tenor, lock function and image. Click on ‘’update Rhapsave button’’ to save changes.

     

NOTE:

When editing percentages on targets, customers must ensure the total percentages re-assigned to all the targets must sum up to 100%. The automated splitting will not commence until the allocated percentages sum up to 100%.

  • Yes, this can be done by deleting targets (only unlocked targets can be deleted).
  • To delete, click on the “view details” icon on a particular target and click on “delete’’ icon. Funds in the deleted target will be automatically credited into the main wallet.
  • Yes, but to a maximum of 5 targets. Click on the edit icon (pen) in the right lower corner of the screen to set up the additional target.
  • The funds will sit in the Rhapsave wallet until the total allocated percentages is 100% and the splitting commences. Only processed (splitted) funds will reflect in the Rhapsave balance.
  • No, funds in the Rhapsave wallet can only be split and transferred into Rhapsave targets when the allocated percentages sum up to 100%.
  • Yes, but only in unlocked wallets. click on the “view details” icon on a particular target and click on “Rhapsave liquidation’’ icon. Funds in the selected target will be automatically credited into the main wallet.
  • The principal and accrued interest are automatically transferred into the main wallet.
  • Unlocked- 11% per annum
  • Locked- 20% per annum

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Rhapsody is a trade name of Shanono Microfinance Bank.

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