We cannot overstate the importance of cultivating saving and investment habits. In fact, if you are in a country like Nigeria where you have to work hard to meet ends, then you have to save and invest. Gone are the days when commercial banks used to be the major savings and investment platform. In this current time and dispensation, due to technology and the fast-rising of fintech companies in the Nation, things have changed.
Today, we have a growing list of top online savings and investment platforms in Nigeria. Basically, these financial institutions have a dedicated platform that allows you to save and also invest. In this article, we will list some of these institutions and also discuss the perks and benefits of leveraging their platforms for savings and investment.
Top 10 online savings and investment platforms in Nigeria
This investment and savings platform was formerly called Piggybank. But recently they changed their name to piggyvest. The aim of this platform is to enable Nigerians to effectively manage their finances. On the piggyvest platform, you can choose to save little amounts or as much as you can, depending on your capacity. This you can do on a daily, weekly, or monthly basis. Additionally, you can also use the safe lock feature to lock your funds away for a period.
One of the amazing things about this platform is that you will surely get amazing interest in your savings. This is usually between 10-17%, depending on the amount you are saving. Furthermore, the Piggyvest platform also allows you to invest in agricultural products using the investify option.
The Cowrywise platform is one of the most popular savings and investment platforms. This platform allows you to automate your savings. That is, it gives you the opportunity to determine how much you want to put away as savings by leveraging their online services. You can decide to save on a daily, weekly, and monthly basis. Also for investment, the Cowrywise platform allows you to invest in Mutual funds.
You can also read about Cowrywise vs Piggyvest
The Kolopay mobile application is an online savings platform that allows you to save little by little towards your goals. Asides from this, as you save, you also earn an interest of about 10% on all your savings. You can decide to use the Autosave feature to save daily, weekly or monthly.
The I-invest mobile application is an online platform dedicated to investment. It allows you to grow your savings while also earning a higher interest rate by investing in Treasury. The minimum amount you can invest on this platform is N100,000, and interest accrues on your principal amount on a daily basis. Upon the maturation of your investment, they credit the principal sum and the interest accrued into your account.
Alat is an online banking platform owned by the Wema Bank of Nigeria. They design this platform to meet the needs of users who wish to leverage technology in saving and investing their funds. Using your mobile application you can simply open an account and start an automated savings program. This program pays you up to 10% interest per annum, which is three times more than what traditional banks pay for regular savings.
KudaBank is one of the best digital banking platforms in Nigeria. Since their inception, they have grown to be one of the best. The KudaBank mobile application is an online banking platform that allows you to carry out banking transactions just as you will with traditional bank mobile apps. The notable difference is that the KudaBank app allows you to save, invest and also lend money. Kudabank is recognized and licensed by the Central Bank of Nigeria.
The SmartSaver mobile application is one of the top-notch mobile apps for savings and investment. In fact, this application is highly secure and it allows you to save money easier in a smarter, more convenient, and secure manner. To ensure that your funds are highly secure they use Paystack for all their transactions and they save all their customer funds with FCMB.
They design the Ribby platform to help small business owners and the general public to save, invest and also lend money. The versatile mobile application has different modules for each market segment and it also addresses the needs of cooperative societies and associations.
Payvest is an investment feature on the Carbon application. The investment feature allows you to save and earn interest as high as 15% per annum. This process is similar to the regular fixed deposit in commercial banks. The minimum investment is N50, 000 and you can lock in your funds for a period of 3-9 months.
The Fundall online platform allows its users to manage their personal finances. You can save, invest, pay bills, and also borrow money on this platform. If you leverage the features of this mobile application well it can sure help you manage your finances effectively.
How do I access the Top online savings and investment platforms in Nigeria?
The process is straightforward and hassle-free. All you have to do is have a mobile smartphone with a data subscription to access their official website. Additionally, you can download their mobile application on the google play store.
If you wish to thrive financially, savings and investment are key. Therefore, you can leverage any of the online savings and investment platforms we have listed in this article to start investing and saving.