PiggyVest Review: Is It the Best Savings and Investment App for Nigerians?

Have you ever struggled with saving money or finding reliable investment opportunities in Nigeria? If so, you’ve probably heard about PiggyVest, one of the most popular fintech platforms in the country.

I’m Simon Zaku, a digital entrepreneur and founder of IBIFoundry. As someone who values financial security and smart investments, I’ve explored various savings apps.

In this review, I’ll break down PiggyVest’s features, benefits, drawbacks, and whether it’s the best choice for Nigerians.

PiggyVest Review: Is It the Best Savings and Investment App for Nigerians?

Table of Contents

• What is PiggyVest?

• How PiggyVest Works

• Features of PiggyVest

• Pros and Cons

• Is PiggyVest Safe and Legit?

• PiggyVest vs. Other Savings Apps

• Who Should Use PiggyVest?

• FAQs

What is PiggyVest?

PiggyVest is a Nigerian fintech platform that helps users save and invest money easily.

Launched in 2016 as PiggyBank.ng, it rebranded to PiggyVest in 2019, adding investment options to its core savings features.

The platform allows Nigerians to automate their savings, earn interest, and invest in low-risk opportunities.

How PiggyVest Works

PiggyVest offers a simple process:

1. Sign Up – Create an account using your email or phone number.

2. Deposit Money – Fund your account via bank transfer, debit card, or direct deposit.

3. Choose a Savings Plan – Select from various savings and investment options.

4. Earn Interest – Enjoy interest rates higher than traditional banks.

5. Withdraw Funds – Withdraw based on your selected plan’s terms.

   
   

Features of PiggyVest

PiggyBank (Automated Savings)

This feature allows users to set automatic savings goals, ensuring money is saved without temptation to spend.

SafeLock (Fixed Savings)

SafeLock lets users lock away funds for a fixed period, earning higher interest rates than regular savings.

Target Savings

Users can set specific savings goals, whether for rent, school fees, travel, or emergencies.

Flex Naira & Flex Dollar

These flexible savings accounts allow free deposits and withdrawals. Flex Dollar lets users save in USD, protecting against naira devaluation.

Investify (Investment Opportunities)

PiggyVest offers low-risk investment options in agriculture, real estate, and more, with returns ranging from 10% to 20%.

Pros and Cons

Pros

• Higher interest rates than traditional banks.

• Multiple savings and investment options.

• Automated savings for disciplined financial habits.

• Secure transactions and CBN-approved.

• USD savings option protects against inflation.

Cons

• Withdrawal restrictions on some plans.

• No direct loan services.

• Limited investment options compared to other platforms.

Is PiggyVest Safe and Legit?

Yes, PiggyVest is safe and legit.

It is registered under the Corporate Affairs Commission (CAC) and regulated by the Central Bank of Nigeria (CBN). The platform uses bank-grade security, including encryption and two-factor authentication.

PiggyVest vs. Other Savings Apps

Feature	PiggyVest	Cowrywise	Kuda Bank
Auto-Savings	Yes	Yes	No
Fixed Savings	Yes	Yes	Yes
Investment Options	Yes	Limited	No
USD Savings	Yes	No	No
Withdrawal Restrictions	Yes	Yes	No

While Cowrywise offers similar features, PiggyVest has more investment options and USD savings. Kuda, on the other hand, is a digital bank without dedicated savings plans like PiggyVest.

Who Should Use PiggyVest?

• Individuals looking for disciplined savings solutions.

• Nigerians who want to earn higher interest than traditional banks.

• People interested in low-risk investments.

• Anyone seeking dollar savings to hedge against naira depreciation.

FAQs

1. Can I withdraw money anytime from PiggyVest?

Yes, but it depends on the savings plan. Some plans have fixed withdrawal dates.

2. What is the interest rate on PiggyVest?Interest rates vary by plan, ranging from 5% to 15% annually.

3. Is my money insured on PiggyVest?

Yes, PiggyVest partners with licensed financial institutions to ensure user funds are safe.

4. How do I fund my PiggyVest account?

You can fund your account via bank transfer, debit card, or automated deposits.

5. Does PiggyVest offer loans?

No, PiggyVest focuses on savings and investments, not loans.

Final Verdict PiggyVest is a solid savings and investment platform for Nigerians seeking financial discipline, higher returns, and investment opportunities. If you need a reliable way to grow your money, it’s worth considering.

Simon Taki Zaku,

Founder, CEO, IbiFoundry.com.ng

For Ibifoundry.com.ng/blog.