Is PiggyVest Legit or Scam? | All You Need To Know

Is PiggyVest Legit or Scam?

PiggyVest (formerly is an online savings and investment platform in Nigeria that gives everyone the opportunity to manage and grow their finances.

They aim at helping customers to save and invest money that they would normally be tempted to spend.

Therefore offer between 7% to 13% on saving and upto 25% on Investment per annum.

Really, with the mount watering interest packages they offer on their saving and investment plans, many have wondered if Piggyvest is legit or scam.

As a real time user, i was initially skeptical but considering the person that introduced PiggyVest to me, a highly respected person, I decided to give them a try.

It was initially a try but eventually I was more than convinced beyond measure after spending more than 2 years saving and investing in different portfolios.

As at today, the company had grown to become one of the top saving and investment Apps you can rely on in Nigeria.

Is PiggyVest Legit or Scam?

Is PiggyVest Legit or Scam?

PiggyVest is Legit and can be trusted, they are registered with the Federal Government of Nigeria and also operate as a Microfinance Bank which is endorsed by Central Bank of Nigeria.

PiggyVest has been in business since 2016 under the name “PiggyBank ” but changed to PiggyVest when they decided to expand their capacity by including a more robust investment plan.

As at today, PiggyVest is very popular with tens of thousands customers across Nigeria and the Globe at large.

Piggyvest saving and investment opportunities are not only limited to Nigerians, if you are outside Nigeria, you can sign up and partake but you must also note that you must have an active Naira card/bank account.

To get a Naira virtual account is easy, you can simply do that through Wema Bank Virtual accounts called Alat

PiggyVest current office located is in Tesmot House, 3 Abdulrahman Okene Close, Off Ligali Ayorinde St, Victoria Island, Lagos.

With PiggyVest, you are sure of limiting excessive spending.

They also help you to save automatically Daily, Weekly or Monthly towards a specific target OR lock away funds for a specified period of time.

Is PiggyVest Approved By CBN?

PiggyVest is managed by AIICO Capital, a leading asset management company in Nigeria, registered and licensed by the Securities and Exchange Commission (SEC)

All saved funds are therefore warehoused with and managed by AIICO Capital which ensures your savings or investment with PiggyVest is extremely safe and guaranteed.

Is PiggyVest Secure

PiggyVest uses a good level of Internet Security. Secured by 256 bits SSL security encryption, you are rest assured that your information is completely protected from fraud.

Also inplace is a Two-factor authentication (2FA) by default on all PiggyVest accounts, to securely protect you from unauthorized access and impersonation.

Can Piggyvest Crash?

PiggyVest cant crash but even if it eventually does, your funds are saved as PiggyVest on its own has no access to your fund, all saved funds are warehoused with and managed by AIICO Capital.

In Addition, PiggyVest owns and operates the Gold Microfinance bank, a licensed Microfinance bank registered with the Securities and Exchange Commission (SEC).

They are also registered cooperative- Piggytech Cooperative Multipurpose Society Limited (Registration number, 16555).

All this ensure safety of your fund for incase the worst happens for those who might be skeptical.

Nothwithstanding , PiggyVest is simply legit.

Who Owns PiggyVest?

Odunayo Eweniyi is the Co-founder of PiggyVest.

First launched as “” on the 7th of January 2016 as a savings-only platform but by April of 2019 it was rebranded to “PiggyVest ” and expanded their services to begin offering direct investment opportunities to users in addition to savings.

And ever since, PiggyVest has been helping individuals and alike to manage their finances with simplicity and transparency.

There is no doubt, PiggyVest mission of ‘to give everyone the power to better manage & grow their finances’ is becoming a reality, especially with the numbers of customers in their database currently.

How PiggyVest Works?

PiggyVest is a saving and investment platform and can be used to reach a financial goal.

To get started, follow the steps bellow:

  • Create an account or simply signin if you already have one
  • Click on the “Quick Save” button
  • Enter amount you want to save 
  • Leave Destination to PiggyBank except if you want to save to other PiggyVest Saving Platforms
  • Select a payment method, whether by card or Transfer
  • If is by card, enter your card details and if you opt for transfer, transfer to the exclusive WEMA Bank account that will be provided.
  • After a successful saving into your PiggyBank wallet
  • You can decide to Safelock it for a specific period of time minimum 3 months or use it to target a Goal Or better still, save in your Flex Naira or Flex Dollar
  • Whichever saving platform you choose, you can get interest upto 13%
  • You can save daily, weekly, monthly or anytime you want and you can as well decide to automate this task 

Piggyvest Interest Rate

PiggyVest interest rates are subject to change at any time based on market conditions.

However, at the moment here are the PiggyVest Interest Rates.

  • 8% per annum on Piggybank
  • Up to 13% per annum on SafeLock
  • 8% per annum on Target 
  • 8% per annum on Flex
  • 7% per annum on Flex Dollar
  • Up to 25% on Investment 

PiggyVest Savings Plans

PiggyVest have five(5) saving opportunities you can utilize to start earning today.

All geared towards a saving option that can suits you.

Read Also : 13 Best Video Editing Apps for Android in 2022

Below are PiggyVest saving plans:


This is a simple saving plan that allows you to save your money on a regular basis or with an interval straight from your bank account.

When you save money on piggybank wallet you can only withdraw once in three months.

However, if you so wish, you can as well withdraw anytime you want for a small fee.

Saving money on PiggyVest can be done automatically or manually from your bank account.

The interest rate is accrued daily on your balance.

Such interests are paid monthly which will be available on the 1st of every month.

Target Saving 

This feature allows you to save consistently toward a financial goal.

It could be for your house rent, tuition fee, buy a car, and open your business.

With a targeted plan, you could even invite your loves ones and your friends to join.

Just as the name implies, the money will be released once the project money is matured.

Target saving interest rate is accrued daily and is paid at the end of your target.

Unlike core savings that pay interest monthly, target savings pay your interest which can be upto 8% at the end of your target.


This is a saving plan for people that are seeking to lock funds away for a long time.

It is different from PiggyBank and Target Plans.

Think of it like your own customized fixed deposit account.

The good news about Safelock is that it comes with a lot of saving interest.

This simply means the longer it stays the more profit you get.

The interest rate in SafeLock which can be upto 13% per annum and is paid upfront into your PiggyFlex account.

You can access it immediately for free anytime.

Flex Dollar 

This saving plan was rolled out for PiggyVest users who want to save and invest in dollars.

The flex dollar account comes up with an interest rate of 7% per annum.

The feature also allows you to purchase a dollar with your naira account.

You can likewise withdraw your money to a domiciliary account for a small fee.

Flex Naira 

This feature allows you to save any amount of money and still get a chance to withdraw it any time.

It is just like your normal savings accounts but with much higher interest.

Flex naira also provides you with a digital account number that you fund your PiggyVest from your account. With Piggyflex, you earn 10% per annum.

PiggyVest Investment Plan

This is PiggyVest feature that allows you to invest in Agriculture, Transport, Fixed Income, etc right from the app.

All investments opportunities are listed and each of this investment listing on PiggyVest comes with its protection before they are been shown on the platform.

Funding your investment is done by using your Debit card, Flex and PiggyBank savings.

All investment opportunities listed on PiggyVest are pre-vetted for maximum safety.

Investment opportunities are only available at some certain period, you need to be on the look to enjoy this offer but one interesting thing about PiggyVest investment plan, interest rate can be upto 25% per annum.

How To Earn on PiggyVest

As a PiggyVest user, you can make money through the following means 

1. First Time On PiggyVest

As a first time user, if you sign up through this Link Here, you will get 1,000 Naira bonus.

But you must note that, you need to first activate your account by depositing atleast 100 Naira or more to see this bonus.

2. Through Interest on savings

You can earn on PiggyVest through Interest on savings.

They have diverse savings platform, each comes with an interest rate but on the wwhole, you can get upto 13% interest on your savings per annum

3. Through Investments

PiggyVest have varoius Investment opprotunity you can take part and this cut many industries across Transport, Agriculture and lot more.

The higher the amount you invest, the higher your ROI.

Note: PiggyVest Investment opportunity is time based, if you are interest, you need to keep eye on the offers

4. Referrals

One of the ways through which you make money on PiggyVest is through referrals.

The more you refer, the more you make money.

You make N1,000 on each person that signs up through your link.

5. Make money through Piggy points.

This is a way of rewarding users for saving consistently.

Either you save through Autosave or Quicksave on Piggyvest, you will be given points.

These PiggyVest points are given every time you save on the platform.

The more you save, the more points you earn.

1point =10 Naira. Accrued points can be converted into money.

But note: You start to earn points when you save at least N2,000 at once in your Piggybank wallet directly from your debit card ONLY.

Read Also : Kuda Bank Review 2022: Everything You Should Know

How PiggyVest Referral Works

One of the cool way of making money on the platform is through referral. The more you refer, the more money you make.

When someone signs up to PiggyVest using your referral link, you and the person you have referred each earn N1000, which is paid into your SafeLock.

The 1,000 earned in the safeLock becomes unlock once a confirmation transaction is done by the person you refer. Even though if it is a transfer of 100 Naira.

Although the Affiliate program is not compulsory but if you want to make money, it is advisable to start referring people.

People you refer eventually will thank you, because everyone want something that can help him save as well as make money.

  • Copy your referral link
  • Send link to friends and family or post link on social media channels
  • Once your friend sign up, you and your friend earns 1,000 Naira
  • This matures to your flex account after 10days once the referred user is marked valid.


PiggyVest is truly a savings and investment platform one should take a good look at.

Whether you are yound or adult, PiggyVest have savings and investment plan for you

It can help you cultivate the habit of saving alongside make money

Their savings plans attracts upto 13% interest rate per annum and upto 25% or more on Investment saving plan.

They are indeed legit and can be trusted.

If you want to get started, sign up using the link below to get 1,000 Naira free money.

Note: If you are not using the link to sign up, you will not be entitled to the free money.

You also need to save atleast 100 Naira to activate this deal.

1 thought on “Is PiggyVest Legit or Scam? | All You Need To Know”

Leave a Comment