No.1 Guide to CIC Money Market Fund [with 10 insider tips]

Introduction to CIC Money Market Fund

CIC Money Market Fund

CIC Money Market Fund is a type of a unit trust in Kenya that invests in low-risk securities, providing its investors with consistent returns and liquidity. It offers easy accessibility, professional fund management and tax benefits (interest taxed at preferable 15% withholding tax rate).

CIC Money Market Fund is one of the most popular money market funds in Kenya.

This is evident as its the largest money market fund in Kenya by Assets under Management (AUM).

CIC Money Market Fund reviews in Kenyan social media and Google are off the charts.

In fact, based on the latest report by the Capital Markets Authority of Kenya, CIC Asset Management Limited had a total market share of 38.05% of the Kenyan unit trust market.

Chart showing the market share of CIC Money Market Fund and the other top 5 money market funds in Kenya by Assets Under Management AUM that is NCBA money market fund, britam money market fund, ICEA money market fund and sanlam money market fund.

Other popular money market funds that don't make the list include zimele money market fund, cytonn money market fund and madison money market fund
Chart of the top money market funds in Kenya by market share

CIC Money Market Fund Fact Sheet

CIC Money Market Fund Fact Sheet

Here is a table summary of the CIC Money Market Fund Fact Sheet


CIC Money Market Fund Fact Sheet for FY 2023/2024
Attribute Information
Establishment Largest MMF in Kenya
Online Application – No forms!
Ease of Access Web portal & Mobile app
Distribution Daily interest, credited monthly
Effective Annual Yield 9.6% (net of management fee)
Annual Management Fee 2%
Minimum Initial Investment Kshs 5,000
Minimum Additional Investment Kshs 1,000
Initial Fee Nil
Risk Profile Low
Launch Date June 2011
Trustee KCB (Tier 1 Bank)
Auditor PwC (Big 4 audit firm)
Custodian Co-operative Bank (Tier 1)
Fund Manager CIC Asset Management Ltd

How to join CIC Money Market Fund


Here is a step by step guide on how to join CIC Money Market Fund.

No need to meet an agent or go to any offices (Process is fully online to save time and keep you safe).

Thus, you can get started with CIC MMF even when out of Kenya.

Total Time: 15 minutes

Download the applicable form(s)


Fill in the applicable CIC Money Market Fund application form as shared below.

Append signatures

append signature

The sections of the form requiring a signature are marked with two red stars**

Fill in the residential details


Add your Kenya residential details e.g. name of the office, apartment or estate and the nearest road or town. The Land Registration number is optional if don’t have one.

Read this article for the Nairobi postal code and the rest of the Kenya postal codes.

If abroad, use your parent’s or own Kenya residential details. Otherwise, provide a certified foreign utility bill showing your name and residential details on it.

Complete the risk assessment

check box

Complete the risk assessment to calculate your risk profile. You can override the results of the assessment if need be.

For example, you can invest in a money market fund even if it suggests the CIC Equity Fund and so on.

Include KYC documentation

KYC documents

See section below on the Know Your Client (KYC) documents needed for each type of application form.

Send the completed forms & KYC documents

Submit Form

Send the completed application forms and KYC documents to

Scanned copies or clear photos are also accepted.

Expect your CIC unit trust account to be created within a day of submitting the above!

Account creation

Account creation

I will then send an email for the account creation and copy you in.

The email will also include a free CIC Beginners Guide to help in your investment journey!

Do not send any money to CIC until you have been allocated a member number.

This is because your member number needs to be included as a reference any time funds are deposited into the CIC Money Market Fund.

Your member number will be sent to the registered contacts filled in the form (email and SMS).

The message may take a day due to the volume of new accounts created.

However, if there are any significant delays let me know so I can push for you as well as check it in the system.

Get exclusive benefits


Once your account has been mapped under my financial advisor code 02581, use this form to generate your free customized PDF wealth compounding report


  • CIC Money Market Fund Application Forms


  • PDF Editor

Materials: KYC Documentation

Summary: How to Invest in CIC Money Market Fund

  1. Open an account with CIC Money Market Fund.
  2. Complete the required documentation.
  3. Deposit funds into your account.
  4. Choose your investment amount and duration.
  5. Monitor your investment and enjoy the benefits of consistent returns.

CIC Money Market Fund application forms

Please note you will have to request access to Google Drive Folder. The folder has the signed forms and member only guides.

I normally grant access to these exclusive folders within 3 hours from when access is requested.

How to get the CIC Money Market Fund Forms via WhatsApp or Telegram

  1. Chat with me via this or this Telegram link.
  2. Save my contact as Nash Thuo for it to work.
  3. Send a message with the word “secret” to activate the bot.
  4. Follow the bot commands to get the forms and other information on CIC MMF.

The above also works with Instagram. Just DM me the word “secret” to activate the bot!

KYC Requirements

The following Know Your Client (KYC) documentation is required to join CIC Money Market Fund (preferably in PDF format).

The KYC documents required to open an individual account with CIC Money Market Fund are:

  • Copy of ID or Passport
  • Copy of KRA PIN
  • Passport Picture
  • Copy of Kenyan bank details

The KYC documents required to open a joint account with CIC Money Market Fund are:

  • Copy of ID or Passport for each of the joint applicants
  • Copy of KRA PIN for each of the joint applicants
  • Passport Picture for each of the joint applicants
  • Copy of Kenyan bank details for a joint bank account or the nominated bank account to be used

Note that joint accounts only allow a maximum of 3 applicants.

For groups or unregistered chamas with more than 3 members, they would need to nominate 3 people to fill the joint application form and provide the KYC documents above.

They would then fill a document that shows the details for all the members of the group.

You can use this free template to capture all the required details.

If the group or chama is registered, then use the corporate application form.

CIC MMF is a great way to grow your collective wealth as a chama in Kenya.

The KYC documents required to open a corporate account with CIC Money Market Fund are:

  • Copy of ID or Passport for each of the signatories
  • Passport picture for each of the signatories
  • Certificate of Incorporation or Registration of the entity
  • Copy of entity KRA PIN (where applicable)
  • Copy of Kenyan bank details for the entity
  • Board resolution or Excerpt of minutes approving investment in the CIC Unit Trust (signed by at least two signatories)

The entity would be a registered chama/group, company, NGO, Sacco, Trust fund, Partnership, Church etc.

The signatories would be the governing personnel for the entity e.g. directors, trustees, partners and so on.

Notes on the KYC requirements

Ensure you include both Top and Back sides of the ID card.

If using a Passport, then include the Bio data pages.

The bank details have to be for a Kenyan Bank operating in Kenya Shillings.

Acceptable bank detail documentation is:

  • an original cancelled cheque; or
  • a copy of the top of the ATM card; or
  • a copy of the bank statement

The bank account number must be visible in the bank detail submitted.

It also has to match to the bank account number filled in the application form.

Never share the back side of the ATM card.

Unscrupulous people can use it to make fraudulent purchases.

Only share the top side which normally shows the bank account number.

Nash Thuo

If there is no official passport picture, a clear picture of the signatory is also acceptable.

The KYC requirements are also listed in the last page of each application form.

KYC documentation is a MUST and the account won’t be opened without it.

You can also get the forms by sending me a chat via this or Telegram link.

Top Benefits of Investing in CIC Money Market Fund

  • Consistent Returns: Enjoy stable and reliable returns on your investment.
  • Liquidity: Easily access your funds when needed.
  • Professional Management: Expert fund managers handle your investments.
  • Tax Advantages: Benefit from potential tax advantages available with this investment option.

CIC Money Market Fund Video Guides

Here is a video on how to complete the CIC Money Market Fund Application Form

Here is a video on how the CIC Money Market Fund return is calculated

Subscribe to the YouTube Channel for more video tutorials.

YouTube subscribers

Check out the Money Market Fund Kenya Bot.

It has an in-built CIC Money Market Fund calculator and also the latest CIC MMF interest rate as of June 2023.

CIC Money Market Fund interest rates

The CIC Money Market Fund interest rate in June 2023 is an effective annual rate of 9.6%.

The CIC money market daily yield on 06 June 2023 is 9.20%.

Find the CIC Money Market Fund interest rates for the past months of FY 2023/2024 below:

MonthDaily YieldEffective Annual Rate
Aug 228.65%8.86%
July 228.66%8.9%
June 228.70%9.0%
May 228.81%9.12%
April 228.71%9.01%
Mar 228.66%8.96%
Feb 228.62%8.92%
Jan 228.67%8.97%
Dec 219.01%9.30%
Nov 218.75%9.05%
Oct 218.72%9.03%
Sep 218.69%8.99%
Aug 218.70%9.01%
Jul 219.02%9.35%
Jun 219.07%9.42%
May 219.05%9.38%
Apr 218.95%9.27%
CIC Money Market Fund interest rates in FY 2023/2024

Note: Interest rates go up or down based on the performance of the underlying investments.

See FAQ section below which shows the assets which CIC MMF invests in.

Use the free MMF bot to get the CIC Money Market Fund rate today.

Further, it will calculate how your investment with CIC asset management will compound over time.

CIC Money Market Fund vs. CIC Equity Fund

While CIC Money Market Fund offers low-risk investments and stable returns, CIC Equity Fund focuses on higher-risk equities for potential higher returns. The choice between the two depends on your risk tolerance and investment goals.

10 insider tips for your CIC Money Market Fund

Here are 10 tips to make the best out of your investment with the CIC Money Market Fund:

If you take typical bank or MPESA charges and compound them over time, you will be surprised at how much you can accumulate over a 20 year period!

How Bank Charges saved and invested in CIC Money Market Fund would grow over time
How Bank charges saved and invested in CIC Money Market Fund would grow over time

The chart assumes one charge saved per month and invested in the CIC Kenya MMF at the prevailing rate when this article was published.

If you incur transfer charges frequently or would like to find out how a certain amount saved would grow over time then use the Money Market Kenya Bot.

Zoom the picture of the chart if reading on mobile to get a clearer view of how the funds would grow.

Hope the above gives you some motivation to plan your transfers more efficiently. You can do this by:

  • Sending your money within the same bank. Hence why it makes sense to have a Co-op account if you invest with CIC Kenya MMF.
  • Shopping for better transfer charges if you don’t bank with Co-op. Generally, PesaLink has competitive fees compared to other options such as M-Pesa, EFTs and RTGS.
  • If you have the time, doing over the counter cash deposits which are free. This would mean going to a Coop Bank to deposit your cash.

It also makes sense to do bulk transfers rather than sending small amounts frequently hence incurring more charges.

Speaking of banks, the best thing you can do for your CIC unit trust investment is to automate it.

You can do this by setting up a standing order to deposit a certain amount each month.

This converts it to a true set it and forget it investment as you don’t have to remember to deposit each month.

It also ensures you’re always using the power of compounding to grow your wealth over time!

With the CIC MMF, you get one free withdrawal for any amount, anytime during the month.

Plan to take advantage of the free withdrawal and not incur the transfer charge of Kshs 1,000 for each additional withdrawal in the month.

You want to make one withdrawal in a month rather than many small ones so as to avoid the transfer charges.

Remember any withdrawals will delay the compounding of your money.

So you should withdrawal only when necessary e.g. during emergencies etc.

Make use of the detailed guidance included with my introduction email for your account creation.

The email includes:

  • CIC Beginners Guide eBook
  • Insider contacts for any system issues, faster fund allocation etc.
  • Guidance on how to access the CIC App and portal

Once your account is created and mapped under my financial advisor code (02581),make use of the automated wealth compounding report.

Completed Agent section of the CIC Money Market Fund Application Form
Completed financial advisor section of the CIC MMF form

The report shows you:

  • How an initial amount of x with monthly deposits of y invested in the CIC MMF will grow over a 15 year period.
  • It shows when your money will grow to beyond your targeted amount.
  • It shows you when the monthly passive income earned from the CIC Kenya MMF will surpass your monthly expenses. Hence showing the exact point when you achieve financial freedom.
  • It allows to run a scenario analysis of how faster you would reach the targeted amount and monthly passive income if you were to increase your deposits by z amount.
Wealth advisor section for the CIC Money Market Fund online application
Wealth advisor section for the online application

Here is the link for the online application for CIC Money Market Fund (for individual applications only).

I think it is not actively monitored.

So your account will be created faster if filled forms are submitted rather than using the online process.

However, if you use the online process and get significant delays, let me know so I can push for you.

Ensure you maintain a minimum of Kes 5,000 in the money market fund to avoid the account becoming dormant.

Track your withholding tax to make it easy to file your tax returns in Kenya.

Once your account is created, log into the online portal and or app and ensure your details, including those of your beneficiaries, are captured correctly.

Ask for details to be updated when circumstances change.

Whenever you make a payment, make sure you include your member number in the reference or narration section of the transaction.

Then, send the proof of deposit(showing your member number) to the insider contacts shared in my introduction email.

This will ensure quick allocation of the deposited funds.

Finally, make use of my Money Market Kenya Bot to get the current rate for the day you are reading this.

The CIC money market fund interest rate provided by the bot is updated each day for the latest information.

Understanding the Risks of CIC Money Market Fund

  • Market Fluctuations: Although low-risk, the Fund’s returns may vary based on market conditions. See point below.
  • Interest Rate Changes: Changes in interest rates affect the returns of money market funds in Kenya.
  • Credit Risk: There is a low risk of default by issuers of the Fund’s underlying securities. However, this is mitigated by the use of professional fund managers as well as the oversight by the custodian and trustee

CIC Bank and M-Pesa details

See details for CIC money market fund deposit via bank:

Account nameCIC Unit Trust Collection Account
Account number01122190806600
BankCo-operative Bank of Kenya
BranchCo-operative House
Branch number02
Branch code11
Swift codeKCOOKENA
CIC Money Market Fund bank account details

Always include your member number in the reference or narration section of the transaction.

The amount sent has to be equal to or above the minimums in the section above.

See details for CIC money market fund deposit via Mpesa:

Paybill number600118
Account numberYour member number
CIC money market paybill number

How to deposit money to CIC Money Market Fund via Mpesa

  1. Go to M-PESA Menu and select the Paybill option
  2. Enter 600118 as the CIC Money Market Paybill Number
  3. Enter your 5 digit Member number as the account number (and M for topping up the money market fund)
  4. Example if your member number is 00000, then the account number to enter is 00000M and so on.
  5. Enter the amount you want to deposit (Don’t use any commas)
  6. Enter your M-PESA PIN
  7. Send the request
  8. An SMS confirming the transaction will be sent to you

Minimum deposit when starting with CIC Money Market Fund is Kshs 5,000.

The minimum for any additional deposits is Kshs 1,000.

MPESA Charges for Withdrawals & Deposits

Learn about the New MPESA charges for sending or receiving money via phone, ATM or MPESA agent.

The guide includes a curated list of transactions that are FREE via MPESA!

How to deposit into CIC Money Market Fund for free!

This section is not relevant for those with Co-operative bank accounts. This is because transfers will be free and instant as you share the same bank with the CIC Money Market Fund.

However, for those with other banks and want to avoid Bank and M-Pesa charges, here is a way to deposit money to CIC Money Market Fund for free!

  1. Go to the M-PESA menu and select Lipa na M-Pesa
  2. Then, Pay Bill option and enter paybill number 400200
  3. Then, enter account number 01122190806600
  4. Add amount and then the M-Pesa PIN
  5. You will receive a confirmation SMS from M-Pesa and from Co-operative Bank
  6. Forward the two messages above to
  7. Remember to include your member number in the email above. This ensures quick allocation of the deposit to your CIC MMF account.

Please note, unlike when you use the CIC Money Market Fund’s paybill (600118), this method doesn’t allow you to input your member number.

Therefore it is VERY IMPORTANT to share the proof of deposit as per the guidance above.

The method remains FREE as of the time of writing but this may change in the future.

9 Top Reasons to Join CIC Money Market Fund

Are you considering joining CIC Money Market Fund? Here are the top 9 reasons why it’s a great choice:

  • Consistent Returns: Enjoy reliable and stable returns on your investment.
  • Compounding: Benefit from compounded growth over time, maximizing your earning potential.
  • Ease of Investment: Invest effortlessly with a straightforward and user-friendly process.
  • Ease of Top-ups: Conveniently add funds to your investment at any time.
  • Ease of Withdrawal: Seamlessly withdraw your funds when needed without hassle.
  • Ready Access to Information: Stay well-informed with easy access to relevant investment details.
  • Professional Fund Management: Rely on experienced professionals to manage your funds effectively.
  • Flexibility: Enjoy the flexibility to adjust your investment strategy as per your needs and goals.
  • Tax Benefits: Take advantage of potential tax benefits that come with investing in CIC Money Market Fund.

We will go over each in detail below.

Here is the link to without the need to fill long application forms!

Click on the plus sign (+) to see what is underneath each pane:

The CIC Money Market Fund is known for offering competitive and consistent returns in the Kenyan Market.

You can find the latest CIC Money Market Fund interest rates in the section below as well as through the Money Market Kenya Bot.

Consistent returns are great for your financial planning efforts and taking advantage of the power of compound interest.

CIC Asset Management will calculate the interest on your investment daily and compound it automatically every month.

Read about using the power of compound interest to grow your wealth in Kenya.

Otherwise, watch a video tutorial on the power of compounding.

I recommend you reinvest the interest earned so as to maximize the power of compound interest.

You should also invest for a long period to allow compounding to grow your money.

At the very least, plan to invest for at least an year in the CIC Money Market Fund.

Your investment journey with CIC Money Market Fund is easy on your pockets!

You only need a minimum initial investment of Kshs 5,000 to get started.

There are no initial fees charged to join CIC Money Market.

The minimum top up to the CIC money market fund is Kshs 1,000.

Please note there is no requirement to top up your account.

You can also top up with any amount and as frequently as you want as long as it is Kshs 1,000 and above.

CIC money market fund withdrawal is super easy and fast!

You can withdrawal via the online portal or by sending an email to the address I will share when we create your account.

You will receive your funds within 3 days or less!

You can log into the CIC Money Market Fund portal and access your daily and monthly statements as well as the latest performance data.

You get access to the largest money market fund manager in Kenya and the accompanying wealth of experience

You can start off with a money market fund and then diversify to the other CIC unit trusts that are riskier but could potentially offer higher returns.

The other CIC Asset Management Limited unit trusts available are:

  • CIC Wealth Fund
  • CIC Fixed Income Fund
  • CIC Equity Fund
  • CIC Balanced Fund

Income earned by the CIC Money Market Fund is tax exempt.

This allows it to pass on the benefits to its unitholders in form of higher returns.

Further, the underlying investments compound tax free.

However, interest accrued to the individual is taxed at a preferential rate of 15% withholding tax.

This is also a final tax i.e. you won’t pay any other tax on the interest earned from CIC MMF.

Other Valuable Guides

Here are links to other valuable content on this blog:

Useful links

Here are some useful links to learn more about money market funds in Kenya:

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Hope you found this article helpful and got some valuable insights.

Feel free to share it with your family, colleagues or friends who would be interested in a CIC Money Market Fund account.

I will ensure their account is created within a day of receiving the required documents!

They will also get access to premium reports and guidance once their account is mapped under my code (02581).

9 thoughts on “No.1 Guide to CIC Money Market Fund [with 10 insider tips]”

    • Thanks for the great feedback. You can send me an email to

      If you send the filled forms and the required documents as per the last page of the form to the aforementioned email address, will ensure your account is created within a day of receiving the same!


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