Tembo

Tembo is a versatile platform designed to support users in achieving their financial goals, particularly those focused on saving for significant life milestones like purchasing a first home. The Tembo app facilitates goal-setting by allowing users to set specific savings targets and track their progress over time. It integrates tools that help users estimate the required deposit amount based on real-life house prices and calculate how much they need to save annually to meet their objectives.

One of the key features of Tembo is its integration with Lifetime ISAs, which are savings accounts that offer government bonuses for eligible first-time homebuyers. The app helps users maximize these bonuses by providing insights into how much they can contribute annually and how these contributions impact their savings timeline. Additionally, Tembo offers features like joint savings tracking and gift contributions, making it easier for users to collaborate with others towards their financial goals.

Overall, Tembo aims to provide a structured approach to savings planning, making it easier for individuals to navigate the process of accumulating funds for significant purchases, such as a first home.