Piggyvest is an online platform for saving and investing money in Nigeria.
The platform started out in 2016 as a savings app called Piggybank.ng but as the company added investment features to its service, it rebranded as Piggyvest.
- 1 Is Piggyvest Legit and safe?
- 2 Rating Piggyvest
- 3 How does Piggyvest work?
- 4 Does a bank own Piggyvest? Who owns the Platform?
- 5 Is Piggy Vest insured by NDIC?
- 6 How long has PiggyVest been in existence?
- 7 Is my BVN safe with Piggyvest?
- 8 How do you make money on PiggyVest?
- 9 How many products does Piggyvest have?
- 10 How to invest money with PiggyVest
- 11 How do I withdraw money from Safelock PiggyVest?
- 12 How do I cancel my PiggyVest account?
- 13 Is Piggyvest a good option for Saving and Investing?
Is Piggyvest Legit and safe?
Piggyvest is a safe and legit platform for saving and investing in Nigeria. Your money and personal data are safe and secure. We use only the highest levels of Banking Security, secured by 256 bits SSL security encryption, to ensure that your information is completely protected and secure.
that is registered and licensed with the SEC, CBN and NDIC and has bank-level grade security.
KL Rating: ⭐️⭐️⭐️⭐️⭐
5.0 Koboline Rating
Piggyvest gets 5 stars out of 5 for overall performance. It is one of the best savings and investment platforms in Nigeria. You can make money through the platforms’ savings and investment plans and by referring your friends to the platform. Interest rates on Piggyvest are between 15 -25%. Depending on the plan you pick
Ratings at Koboline are determined by taking into account; pricing, user experience, ease of filing a claim, website transparency, and complaint data from social media.
How does Piggyvest work?
Anyone with a Piggyvest account can do two things; Save and invest.
You can ave daily, weekly or monthly, depending on individual preference.
You can also invest small amounts of guaranteed fixed-income opportunities as well as other investment options.
Does a bank own Piggyvest? Who owns the Platform?
Piggy vest is not owned by any Nigerian bank.
The company was founded by Odunayo Eweniyi, Ayo Akinola, Joshua Chibueze, Nonso Eagle, and Somto Ifezue. It has raised up to $1.2m (seed) to date. the company investors include Village Capital, Leadpath Nigeria, Ventures Platform and VilCap Investments.
Is Piggy Vest insured by NDIC?
Yes it is insured by NDIC. The company operates as an MFB (Microfinance bank) which are regulated by the CBN and whose funds insured by the NDIC.
How long has PiggyVest been in existence?
This platform started in December 2015. So this year will make 6 years that the company has been in existence.
Is my BVN safe with Piggyvest?
Yes your BVN is safe with Piggyvest.
This platform requires your BVN so it can validate your identity and protect you against identity or money theft. Regulatory bodies also require Piggy vest to ask for its customer’s BVN. It also helps provide an extra layer of security on your account.
How do you make money on PiggyVest?
You can make money with this platform from interest you get from saving or investing. You can also make money N1000 for each refferal you make to the platform.
How much Interest does Piggyvest Give?
Piggyvest users can earn between 10% to 15% interest per annum on its savings plans. While the interest on the platform’s investment plans can get as high as 25%.
How many products does Piggyvest have?
Piggyvest has a range of features (wallets) that revolve around savings and investments. These wallets include:
- Piggybank Savings Wallet
- Flex Naira
- Flex Dollar
- Target Savings
Piggyvest Savings Wallet
This is the core Piggy vest savings feature where you choose a particular amount you want to save.
You can save money using the quick save option or the autosave option. With the autosave option, money is taken from your account without having to do it manually.
You also set how frequently money should be taken from your account. It can be daily, weekly or monthly.
The quick save option allows you to save any amount at any time of your choosing.
Piggy vest also offers 4 free withdrawal days in a year. You can choose your preferred withdrawal days or use the default withdrawal days.
Withdrawals outside your set withdrawal days will attract a 5% penalty fee.
SafeLock is a fixed savings option that allows you to put money aside for a set period.
Safelock also acts as a sub-account, so you can transfer funds both from your Piggyvest wallet and from your debit card.
Funds in Safelock as an interest rate of 15.5% per annum. Money in Safelock can last from 10 days to 1000 days.
A Flex Naira account is where the earned interests on all other Piggy vest accounts (wallet) are paid to.
The Flex Naira account is a flexible savings wallet in the sense that it can also earn interests of 10%.
However, you’re not allowed to withdraw more than 4 times from this account. So as not to lose all the accumulated interest for the month.
You can also fund all your other wallets from your Flex Naira account.
Flex Dollar is a wallet on Piggy vest where you can save, invest and transfer funds in Dollars.
Your Flex Dollar account can either be funded from your Flex Naira wallet or your bank card with as little as $1.
The interest rate on a Flex Dollar Account is 6% per annum.
Withdrawals from your Flex Dollar wallet can either be in Naira or in Dollars. Dollar funds withdrawal can be sent to a domiciliary bank account.
Target Savings enables you to save towards a particular goal.
You can save towards a personal target or even enter a group savings challenge with other Piggyvest users.
Some goals you can save towards include your rent, a vacation or even a household item.
You also earn interests of 10% per annum on Target Savings.
Investify by Piggyvest allows a user to invest in low-medium risk investment opportunities that have been vetted.
Each investment opportunity on this platform has its own insurance coverage.
Ther interest rates on Investify can get up to 25%. Your interest accrued on Investify is paid into your PiggyFlex account daily, monthly, quarterly or at the end of your investment period.
How to invest money with PiggyVest
To invest with Piggyvest folow the follwing steps:
1. Create an account
2. Find investify on your PiggyVesy account Dashboard and click on it.
3. Review the investment opportunities and invest in the one that you prefer.
Note: The minimum investable amount you can invest in most opportunities on investify is N3000.
How do I withdraw money from Safelock PiggyVest?
The Safelock feature allows you to lock money until a set withdrawal date. this date will be chosen by you. When the withdrawal day has reached. Your money will be sent to your flex account where you can withdraw from for free.
How do I cancel my PiggyVest account?
You may stop using this company’s services by closing your account and cancelling the terms you havw with them at any time by contacting the company at [email protected] or 0700 933 933 933.
Is Piggyvest a good option for Saving and Investing?
Piggyvest was the first digital savings app in Nigeria.
It has gone from strength to strength since then and is now offering various ways for people to save, invest and earn money without worrying about the safety of their money.
This savings and investment company offers some of the best interest rates you can find in the market and its feature that allows people to save, invest and earn interest in dollars makes it a great option.