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How to Renew Your Welile Portfolio at Maturity

Renewing runs your portfolio on for another term instead of taking your contribution back. You ask for it from the portfolio that is maturing, and it takes effect once Welile has processed it — unless your portfolio is set to renew on its own, in which case it does so at maturity without you doing anything.

Check which of those applies to you before your maturity date, because they lead to opposite outcomes.

Before you start​

Your maturity date. It is on your portfolio, and it is the date everything here hangs on.

Your portfolio code, for any conversation with support.

A decision. Renew for another term, ask for your contribution back, or take part of it back and run the rest on. Deciding late is what causes most of the confusion around maturity.

The notices you will get​

Welile sends maturity notices to the email address on your partner account as the date approaches, and again around maturity itself.

Two things follow from that. Keep the address on your account current — a notice that bounces is the commonest reason a partner says they were never told. And treat a notice as a prompt to decide, not as confirmation that anything has been done.

How to request a renewal​

  1. Open the portfolio that is maturing and check its maturity date, term and return method.
  2. Raise a renewal request against that portfolio — through the portfolio itself or through support, quoting your portfolio code.
  3. Agree the new term, and the rate and return method that will apply to it. A new term is agreed on its own merits; it does not automatically carry the old one forward.
  4. Say whether you are adding money at the same time. A renewal can carry a top-up with it, so the new term starts on a larger contribution. See topping up.
  5. Follow the request as it moves from received, to being processed, to completed.

A renewal request is a request. Until it shows as completed, nothing about your term has changed.

What a renewal changes​

Your maturity date moves out by the new term.

Your term and your rate are whatever was agreed for the new term, which may differ from the last one.

Your contribution carries on, with any top-up agreed at renewal added to it.

What you have earned so far stays on the record. Renewing does not erase the history of the term that just ended — see statements.

If your portfolio renews automatically​

Some portfolios are set to renew themselves at maturity rather than wait for a request. Where that is set, the portfolio rolls into a new term on its maturity date and carries on.

This is a setting on the individual portfolio rather than the default for everyone, and it is most often used alongside compounding. If you want your contribution back at maturity, check well beforehand that your portfolio is not set to renew itself, and tell Welile what you want instead.

Common problems​

Maturity has passed and nothing happened. Contact support with your portfolio code. Do not assume that silence means a renewal, or that it means a payout is coming.

It renewed and you did not want it to. Say so immediately, quoting the portfolio code and the date. A renewal applied in error can be unwound, but the sooner it is raised the simpler that is.

You want your money back instead. That is a redemption, not a renewal, and it is a different request — see getting your principal back.

You want part out and part running on. Ask for a partial return. The remainder carries on under its own terms, so confirm what those are before you agree.

Still need help?​

Contact Welile Support on WhatsApp at +256 777 607640, call +256 748 747134, or email info@welile.com.

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