No interest on Target Savings
UfitGo does not pay or charge interest on balances held in UfitGo Target Savings.
What this means
UfitGo is not an Islamic bank and does not present itself as a Shariah-certified financial institution. Our commitment is to build a product experience that avoids interest in the way UfitGo designs and operates Target Savings, while being open about the regulated infrastructure that supports it.
Our product commitments
Purpose-led saving
Target Savings is designed to help customers plan and save towards a specific journey or service on UfitGo.
Regulated account infrastructure
Account services are provided through FCMB Microfinance Bank's banking-as-a-service infrastructure. UfitGo is a technology platform, not a bank.
Our role and our banking partner's role
UfitGo provides the technology and customer experience for planning, saving, and paying for services. FCMB Microfinance Bank provides the account infrastructure. UfitGo does not control or represent the wider operations of any banking partner.
We do not claim that using conventional banking infrastructure makes that institution's entire operations Shariah-compliant. Our statement is limited to UfitGo's product design, including the fact that we do not pay or charge interest on Target Savings balances.
Independent review
We welcome independent Shariah review of our contracts, fund flows, fees, and customer disclosures. When a formal review or advisory opinion is completed, we will publish its scope, date, and the reviewer's credentials here. Until then, this page explains our approach; it is not a fatwa or a Shariah certification.
Have a question about Target Savings?
Our support team can explain how Target Savings works and direct feedback to the right team.
Contact support