BenedictBest Savings Apps In Nigeria With High-Interest Rates
Cultivating the habit of savings is important both for individuals and businesses because if you fail to save, both you and your business will suffer and you may be forced to declare bankruptcy or rely heavily on borrowing.
While borrowing to grow your business is not bad. we also encourage you to save while you still can this is why we have taken a little break from offering you loan options to share some of the Best Savings Apps In Nigeria With High Interest Rates with you so you save and earn. The fun part of this post is that some of the loan apps we already mentioned previously have the features so it also increases your loan credit score and offers you higher loan amounts.
See Also: Get N500k Loan From FairMoney
Savings Apps In Nigeria
There are several options available under this list but in this post, we will focus on 5 apps. We will also mention some but not dive into them in detail so take your time to research your options and know what works best for you.
Piggyvest
When it comes to saving apps in Nigeria, Piggyvest appears to be one of the best options and their name is constantly on everyone’s lips, especially in entrepreneurs’ spaces where saving is discussed. Perhaps one of the key reasons for this is because their interface is super simple that even todular can navigate their app.
Piggyvest offers a wide range of savings options with juicy interest rates including;
- Safelock – 13% per annum
- Piggybank – 10% per annum
- Targets – 9% per annum
- Flex Naira – 8% per annum
- Flex Dollar – 7% per annum
All these options drop a fraction of your interest rate daily and some even offer you the opportunity to withdraw your money whenever you want.
Cowrywise
Cowrywise is fast gaining popularity in savings discussions as one of the leading savings apps with high interest rates and as an online saving app with a range of savings options including short-term and long-term savings options. They also offer emergency savings accounts.
The Cowrywise savings app offers interest rates of up to 15% and allows its users to set up automatic savings from their bank account including the option to invest their money in mutual funds.
Opay Savings
Opay is very popular in Nigeria but not so many people know about the Opay savings options that are available on their app. The saving option has about 4(four) options to choose from and the interest rate ranges from 15% to 18% depending on the savings plan you choose to use.
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Alat by Wema Bank
Alat by Wema is not new as the bank has a dedicated card called Alet and they recruit young stars from all works on life to keep the team active and in vibrant. This digital bank option from Wema Bank offers a range of savings options including flexible savings and savings for specific goals. They also offer up to 10% interest per annum and provide tools to help users manage their money and track their expenses while saving.
Fairmoney Fairsave
Fairmoney is quite popular when it comes to loans in Nigeria but in terms of savings, their name is hardly mentioned. However, the Fairmoney microfinance bank does not only give loans but also offers a good savings plan via their app plus high interest rates even higher than some of the platforms mentioned earlier. With the Fairmoney Fairsave, you get an interest of up to 14%Â with a daily alert notification once your interest is paid.
They also have the plan which I call the big boys savings with a 24% per annum interest rate. The FairLock is a fixed deposit savings wallet that keeps your money safe for your desired period after which you can unlock the savings and use your money with an additional interest.
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Other Money Saving Apps With High-Interest Rate
- Kuda Bank – 10% Interest
- Palmpay Savings – 14% Interest
- Carbon
- SumoTrust
You can take your time to check these other apps and see if their options are good for you. Please share if you find the post educative.
Benedict