<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0607</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2026-03-18</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001987363</issuerCik>
        <issuerName>Waton Financial Ltd</issuerName>
        <issuerTradingSymbol>WTF</issuerTradingSymbol>
        <issuerForeignTradingSymbol></issuerForeignTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002124598</rptOwnerCik>
            <rptOwnerName>FUNG Chi Kin</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerNonUSAddressFlag>true</rptOwnerNonUSAddressFlag>
            <rptOwnerStreet1>STES 3605-06, 36F, TOWER 6, THE GATEWAY</rptOwnerStreet1>
            <rptOwnerStreet2>HARBOUR CITY, TSIM SHA TSUI, KOWLOON</rptOwnerStreet2>
            <rptOwnerCity>HONG KONG</rptOwnerCity>
            <rptOwnerNonUSStateTerritory></rptOwnerNonUSStateTerritory>
            <rptOwnerCountry>K3</rptOwnerCountry>
            <rptOwnerZipCode>00000</rptOwnerZipCode>
            <rptOwnerStateDescription>HONG KONG</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
        </reportingOwnerRelationship>
    </reportingOwner>

    <ownerSignature>
        <signatureName>/s/ Fung Chi Kin</signatureName>
        <signatureDate>2026-03-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
