In this article, we’ll be discussing about the best money saving apps in Nigeria that are safe and easy to use.
Saving money has always been a habit for most Nigerians; remember when it was simply a little piggybank that most people used to save their money? But, with the rapid rise of Fintech Startups in Nigeria, a lot has become easier for Nigerians. If you’re seeking for money-saving apps in Nigeria, I’ve compiled a list of the best money saving apps in Nigeria for both Android and iOS.
We no longer need to step into a banking hall to create a bank account since there are digital bank applications that we can install, sign up for, and have a bank account ready in minutes, and the same simple procedure applies to saving money. Rather than traveling to the bank or using the native piggybank, you can effortlessly save money by utilizing a money saving app on your Android or iOS device.
In this post, you’ll learn about the best money saving apps for Android and iOS, and how you can manage how your money is used with these apps. You’ll also get interest rates when you save money with these applications.
Top 8 Best Money Saving Apps in Nigeria
PiggyVest is one of the top leading firms in Nigeria, enabling any Nigerian to easily save, invest, and grow their saving. It has been around for a long time and has helped many Nigerians save money in the most effective manner imaginable. PiggyVest allows you to save and invest, and they provide several saving strategies.
Their annual return rate on your money increases from 10% to 13%. This software offers a lot of options, and if you want to have target savings, SafeLock, or invest in dollars, the PiggyVest app can do it all. It’s one of the best money saving apps in Nigeria and you can download it on Android and iOS.
Cowrywise is another top money-saving app in Nigeria, and if you want to build a great financial future for yourself, this app (available for Android and iPhone users) is one of the best you can use. If you want to regulate your savings precisely and also enjoy a high interest rate when you save money, you can always trust Cowrywise. Cowrywise allows you to save in groups by inviting friends to a shared savings account.
Cowrywise is secure and trustworthy, and they also provide savings accounts such as Regular Savings, Halal Savings, and Saving Circles. You can set your saving circles to be daily, weekly, or monthly. Cowrywise is very good and one of the best money saving apps in Nigeria.
Crowdyvest is yet another money-saving app in Nigeria; it’s simple to use, safe, and secure, and its savings plan is among the best available. Crowdyvest’s interest rate is one of the highest among the money-saving apps I’ve used, with rates ranging from 12% to 15% per year, and their saving plans make it simple to determine how you want your money to be used in the future. Pace, for example, allows you to save for a specific amount under 3 months and more, and you’ll be granted a high interest rate when you’re ready to utilize your money.
Crowdyvest is a top money saving app in Nigeria; you can find it on the Google Play Store or the Apple Store; it’s extremely simple to use and a savings app with excellent interest and savings programs. It’s a great money-saving app for both Android and iOS.
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4. Kuda Bank
Kuda is a popular digital banking app in Nigeria, and the Kuda MFB is one of the best digital banks in Nigeria, making it simple to move money and pay bills. You can use the Kuda app to make up to 25 free transfers to other banks, as well as pay your phone bill, power bill, television bill, and many more expenses. Customers can also save money and earn a fixed interest rate by using the Kuda app.
When you open a Flexible Savings account with Kuda, you can earn up to 10% interest, and you can earn up to 15% interest when you open a Fixed Savings account. You can also request a debit card to make payments online and shop on websites.
5. V by VFD
V by VFD is a great digital banking app and one of the best around. You can get limitless free transfers from them, and they also offer good customer service that responds and solves problems when you contact them. You can also create a savings account with V by VFD and get a high interest rate on your money; they offer two saving plans, and you can open a Target Savings Account or a Fixed Deposit Account.
V by VFD is a very good savings app and one of the best money saving apps in Nigeria; you can download their app on Android and iOS. V by VFD is one of the best apps to use if you want to make the most use of your money through saving.
6. ALAT by Wema
ALAT is the innovative brainchild of WEMA Bank Nigeria and is fully digital. This means that you can perform all your transactions on your electronic devices and from the comfort of your home – you do not have to go to a physical branch.
ALAT allows you to set your savings goal and determine how much you want to save and for how long. You can automate your savings or choose to save at your own pace. You can also choose to save alone or with friends via the Group Savings option.
Interest rate: The platform promises an interest rate of up to 8.75% on savings.
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KoloPay is a mobile application that greatly helps you save money more than you thought you could. With the EasySave and Autosave options, you can choose to automate your savings by schedule – daily, weekly, or monthly. Through these plans, the app helps you easily save little by little towards your goals.
You can also use the Koloshare feature to invite others to contribute to your saving goal. KoloPay allows you to have multiple saving goals at a time.
Interest rate: Just like many of the other apps, KoloPay has a withdrawal date policy and offers an interest rate of up to 10%.
SumoTrust is an automated savings and investment platform helping reshape the poor saving and investment culture of Nigerians. The saving app allows you to set aside money easily and automatically and offers both savings and investment services.
The app offers its customers 3 saving plans, which include Main Savings, a plan that gives its users the liberty to make choices to either go for daily, weekly or even monthly savings; Fixed Savings, a plan that keeps you away from the funds you’ve saved for one year; and Mission Savings, a plan designed for users with projects that need to be completed within a specific time frame.
Interest rate: SumoTrust promises 10% interest on savings on ‘Main savings’ account and ‘Mission savings’ account and 15% on the ‘Fixed Deposit’ account per annum.
It’s always vital to save money, not just for the present but also for the future, and with these money saving apps having been around for a long time now, you can do so and your money will be saved as well as giving a boost owing to the interest rates you’ll be receiving from time to time.