Piggyvest is a platform that allows you to save and invest money conveniently with your mobile phone.
How to save and invest money on Piggyvest
To make use of Piggyvest, the first thing you have to do is to download the mobile application. The Piggyvest mobile app is available on the Google Playstore and on the Apple App Store which means it can be accessed by both Android and IOS users.
Download and install the app according to your device type and launch. As a new customer, you have to register. The registration form is simple to complete and you will be asked to provide some personal details.
Important things to note when filling the form is that your names should match that which is registered with your bank account as no third party is allowed. The e-mail address, phone number and password you enter are also important as they will be required for log in.
To complete your registration, you will need to verify your account by either e-mail or phone number; choose the method most convenient for you. After that, login and start saving/investing.
You can also access all of these via their online website http://www.piggyvest.com but using the mobile application will keep your account more secure.
Types of savings available on Piggyvest
When you are logged in, you can choose the savings plan you want and make payment to activate your savings account.
⦁ Daily savings; Daily savings allow you to save between N50 – N25,000 daily; you will be the one to set the particular amount you can save.
⦁ Weekly savings; Weekly savings allow you to save between N1,000 – N100,000 weekly; you will be the one to set the particular amount you can save.
⦁ Monthly savings; monthly savings allow you to save between N3,000 – N500,000 monthly; you will be the one to set the particular amount you can save.
Interest rates available on Piggyvest
There are 3 possible interests you get on Piggyvest which include;
⦁ Core Savings Interest; On core savings, you get 10% of your money as interest annually.
⦁ SafeLock Interest; On SafeLock, you get above 13% of your money as interest annually.
⦁ Target Savings Interest; On Target savings, you get 10% of your money as interest annually. This is different from core savings interest as it allows group savings.
Investing is not mandatory, you can use the platform to save only if you are not interested in the interest rates.
Deposit and Withdrawal
Funding your account is easy as you can pay using any of the Nigerian debit cards – MasterCard, Visa and Verve. You won’t be charged any fee for depositing.
Withdrawal is done directly to your bank account on your request once your investment is mature. You get to choose a withdrawal day convenient for you or any of the ones made available by Piggyvest.
Simply log in to your account, navigate to the withdrawal page and fill the form. Your payment will be processed and your bank account will be credited.
Withdrawal is free on your chosen day and on the days set by Piggyvest; withdrawing on any day aside these ones will incur a 5% withdrawal fee.
Conclusion
Piggyvest has a beneficial aim, investing money is good and everyone should be encouraged to do so. You can invest and be sure that your money is safe as the money is managed by AIICO Capital, a company licensed by the Securities and Exchange Commission (SEC).