There is always a need to save money after making huge profits after a business or just being paid as a salary earner.
The actual Account balance cannot overlook the importance of saving money. In fact, with so many proven benefits, saving money is one of the best financial habits you can adopt in a country like Nigeria.
But, if saving money doesn’t come easy to you, or you don’t see the point, it’s natural to ask yourself, “why is saving money important”?.
Saving money is important because it helps protect you in the event of a financial emergency.
Additionally, saving money can help you pay for large purchases, avoid debt, reduce your financial stress, leave a financial legacy, and provide you with a greater sense of financial freedom.
Hence this post focus solely on investment platforms in Nigeria to save and invest money.
Below are our top selected investment companies to save and invest money in Nigeria. These platforms have been in the spotlight, and many people are already making good use of them.
Cowrywise has proven to be a safe platform to save and invest and invest money. Saving and Investing Money with Cowrywise means your money works hard all day, every day.
Investment is made easy with cowrywise because they are known for their simplicity, customer satisfaction, collaboration, and teamwork.
How Does Cowrywise Work?
Cowrywise helps make saving and investing seamless. Cowrywise takes away the stress and planning required to save and regularly invest through its automated and easy-to-use platform.
As a cowrywise investor, Your savings also generate interests until a defined maturity date.
With just a minimum amount of N100 naira, you can deposit on cowrywise and become a full-time investor while you watch your earnings grow Cowrywise does not have an upper limit.
Cowrywise is suitable for anyone who wishes never to miss out on saving and investment goals and those who want to save and invest money even while they sleep. Cowrywise was founded in 2017
Saving And Investment Plans On Cowrywise
There are three investment plans to save and invest money.
1. Regular Savings involves setting your savings to plan daily, weekly or monthly for a minimum of 3 months.
You need only specify this once you register your plan. Cowrywise will ensure this money is saved automatically on those specified days into your Cowrywise savings plan.
You can also choose to manually top up your savings plan randomly with other amounts outside the automated scheduled amount.
2. Life Goals plans to help you meet commitments to long-term financial goals. These are similar to periodic plans, but they have a minimum maturity period of 1 year.
3. Halal Savings are for Muslims who don’t want to earn interest on their savings. They can be set up as periodic plans, life goals, save as you earn plans or fixed plans, but they won’t attract any form of interest.
You can create as many plans as you wish, and you can start earning the following day after you begin saving on Cowrywise and daily basis after that.
Your daily returns are credited to your Cowrywise account by midnight each day.
How To Withdraw On Cowrywise
Cowrywise withdrawals are very simple, and payments are made almost instantly.
To initiate a withdrawal, follow these steps:
- Access your Cowrywise account.
- Select the plan you wish to withdraw from
- Tap on withdraw
- Enter the amount you want to withdraw
- Select the withdrawal destination. You can withdraw into your bank or stash.
- Set a new maturity date.
- Make your withdrawal. Viola!
You should note that any funds left will be kept in the plan until you set the new maturity date.
If you have not added your bank details, tap “Banks & Cards.” Under “Banks,” provide details of the preferred bank account to be credited and save.
If a withdrawal is not settled after six hours, you can contact their support for help.
Is Cowrywise Safe?
After all, is said and done, you may wish to find out the credibility of cowrywise, and I say YES, cowrywise is safe, and it is a good opportunity to save and invest money.
Cowrywise offers a wide range of mutual funds in Nigeria, and they have also partnered with top companies to good offer investment opportunities in Nigeria.
1. Piggyvest (Piggy Bank)
Piggyvest is yet another cool saving and investment platform that has already won the hearts of most Nigerians, including my friends.
This saving and investment platform helps you save and invest money. I retrieve it back with interest at the stipulated time.
PiggyVest is regarded as the first online “Savings & Investment” app in West Africa. It first launched as Piggybank on January 7th2016, as a savings-only platform.
How Does Piggyvest Work
Piggyvest (Known as formally as Piggybank) is one of Nigeria’s best investment companies; with PiggyVest, you can stop spending excessively and put away (and grow!) funds that you do not want to touch.
You can choose to save little amounts of money periodically (Daily, Weekly, or Monthly) towards a specific target or lock away funds for a specified period.
Piggyvest is known for its simplicity, discipline, convenience, and flexibility to enable people to have the best customer experience.
Investing is a PiggyVest feature that allows users to earn more on their savings by investing in pre-vetted, low-medium risk, primary, and secondary investment opportunities.
Piggyvest Saving And Investment Categories
There are three major categories on how piggyvest operates on saving and investments
it is a fixed savings option that allows you to earn up to 15.5% every year.
If you have a certain amount of it money, you budget and wish to spend for something in maybe five months; you can save it up using piggyvest safe lock so that your money gets lock with a padlock and you don’t have access o it again till the five months period approaches.
The SafeLock feature is one step further towards curbing the temptation to touch the money that you have put aside as your savings.
hence, it provides you with an option to save money ahead and also specify a date you wish the money to be unlocked for usage
You will earn Up to 12.5% per annum on SafeLock.
2. Target Savings
enable you to save consistently towards a particular financial goal. You can create a personal target or a Group savings challenge with your multiple users.
This saving option is a great way for students to Save for house rent, vacation, a new gadget, and even start your new business with Target savings and earn more money while at it!
You will earn up to 10% per annum on Target Savings.
3. Flex Naira
A Flex Naira account is a flexible savings wallet where interests earned on all other PiggyVest wallets are paid.
You earn an interest of 10% per annum on funds in your flex account, but this is subject to a minimum of 4 withdrawals in a month.
If you withdraw more than four times a month from your Flex account, you lose all your accrued interest on your Flex savings for that month.
You will earn 10% per annum on Flex.
4. Flex Dollar
Flex Dollar is a feature that lets you save, invest and transfer funds in Dollars
You will earn 5% per anum on Flex Dollar.
How To Save And Invest Money With Piggyvest
To get started with Piggyvest, follow the steps below.
- Visit the website or download the app from the play store to create an account.
- Set up your withdrawal account details; this is the bank account that funds you withdraw will get sent to.
- Enter your debit card details to activate your account, and then make your first deposit. (You may use a MasterCard, Visa, or Verve card from any Nigerian bank).
- You may now use any of the Savings Plans to start your daily, weekly, or monthly savings.
Piggyvest requires a small amount of money to start with; you can start for as low as N50 – N50,000 daily and N1000 – N200,000 weekly or even up to N500 000 monthly.
What Are Piggy Points?
Piggy point is a system that rewards customers for saving with the platform.
You earn points for savings, and you can convert points to cash.
How many points you earn depends on how much you save. Here is a breakdown:
N2000 – N4999 = 1 point
N5000 – N9999 = 2 points
N10000 – N49999 = 10 points
N50000 – N99999 = 25 points
N100000 and above = 55 points
The value of each point is N10. That is 1 Piggy Point = N10.
How To Withdraw From Piggyvest
Piggyvest Withdrawals are free, although only on set Withdrawal dates. You can set your free withdrawal dates or make use of the PiggyVest quarterly fixed free withdrawal dates.
After you have placed a withdrawal request, funds will be sent to your bank account and can also be sent to your Flex Naira account instantly, and then you can withdraw to your set bank account anytime.
Before placing a withdrawal, ensure to have uploaded your bank info on your account.
Below are piggyvest free withdrawal dates
- March 31st March 30th June
- 30th September
- 31st December
Piggyvest Referral Program
I am a big fan of companies with referral programs and piggyvest since being one of them.
You can invite your friends to signup with Piggyvest using your referral link; both of you will earn N1000, which is paid into your SafeLock.
If you are very good at referring, you can earn about 10,000 a day to register just ten persons.
As a new user, your bonus will be paid into your SafeLock and matures to your flex account ten days after you have been marked valid.
Is Piggyvest Safe?
I have done some research, and all I see are positive reviews, so I am very certain piggyvest is safe and your money is always secured, so you shouldn’t have doubts about investing in the platform
2. Wealth. ng
Wealth. Ng offers one of the best investment opportunities in Nigeria. It is an investment marketplace that makes it easy for you to save and invest money for products such as treasury bills, stocks, mutual funds, and real estate. You can do this anytime and anywhere!
Wealth. Ng is a product of WealthTech Limited – a financial technology company that fosters financial inclusion by developing cutting-edge technological products.
The company is duly registered Corporate Affairs Commission with a team that boasts seasoned wealth management experts with over ten years of experience in the investments sector.
What is Wealth.ng All About?
Wealth has a simplified investment platform that offers classified saving and investment opportunities.
You can grow wealth by investing in any treasury bills, stocks, mutual funds, and real estate products listed on the platform.
You can manage and monitor your investments in real-time and see how much interest you will get when your investment matures.
Wealth. Ng and puts together a list of treasury bills, stocks, mutual funds, and real estate products for you to invest in.
On wealth, you are given total control over your investments, and you can make changes to your profile settings at any time.
How To Invest Money On Wealth. ng
You can invest and start earning money on wealth. Ng as early as possible; you make money as soon as you invest in any product offered on the platform.
Every product has a specific interest rate attached to it. The amount of money you make will be dependent on that interest rate.
Wealth has a wide variety of categories to choose from, which includes
Wealth Gift is a feature that allows you to send investment products like Stocks and Treasury bills as gifts to other people whether they have registered on wealth. Ng or not.
While Wealth Cash is a savings product that offers you easy entry into the world of investments.
It provides you a liquid option such that with a minimum of 1,000 Naira, you get impressive returns of 7% per year, currently much higher than Treasury Bills yields.
Conclusion: Best Investment Opportunities in Nigeria
Cowrywise, Piggyvest, and wealth. Ng all make up the list of best investment opportunities in Nigeria to save and invest money; however, we recommend cowrywise and piggyvest.
So if you are looking forward to legit and safe investment opportunities in Nigeria, you should consider any of the two platforms.