The Best Apps To Save & Invest Your Money Online in Nigeria While Earning Interest in Return


So, previously, we’ve talked about the best loan apps that give you access to quick personal cash loans without collateral, in minutes, but, what about saving and investing your money instead? What are the best apps out there that you can use to save and invest your money, right here in Nigeria?

Well, here you go…

Best apps to save and invest money in Nigeria

Also, see this: The best apps out there to get your virtual dollar Mastercard & Visa cards in Nigeria.

Top 8 best & most-trusted apps to save & invest your money in Nigeria

  • PiggyVest mobile saving app
  • Carbon (formerly PayLater)
  • Branch app
  • Cowrywise
  • Kuda bank app
  • OPay mobile banking app
  • Alat app by Wema bank
  • Fairmoney loan app

As you can see, the apps contained in this list are quite a few, and that is because only the best and most trusted have been chosen out of the millions of apps out there that claim you can save and invest your money with them.

Most of the apps listed here are actually licensed by the CBN (Centra Bank of Nigeria), and the Securities and Exchange Commissions (SEC), so, there’s no need to be anxious.

And just to be clear, I’m not here to tell you to invest your money in shares, stocks, and cryptocurrencies, as that is simply not what this article is about. This article strictly talks about saving your money with any of the above-listed apps, and earning daily, weekly, or monthly interest on it in return, which in theory, is still regarded as “Investing“.


So, having said that, now let’s get down to business.

1. PiggyVest


Download now: PiggyVest mobile saving app.

As of the time of writing this article, PiggyVest is actually the most robust and up-to-date mobile saving app that you can find anywhere right now.

Unlike other apps on this list which we’ll also get to discuss in a bit, PiggyVest offers no other services aside from helping you save or invest your money, while you sit back and earn interest on it.

In terms of saving, they provide you with a host of packages that you can choose from, and you get to earn up to 5 – 15% interest, depending on the package you choose.

There are flexible and fixed deposit saving packages, and you can even save your money in dollars so that it keeps appreciating, while the naira keeps depreciating, Lmao.


And you can even save together with friends on the app to achieve a given goal, like, setting a target amount to beat within a given time frame, and at the end of the day, interest accumulated during this period is shared among each member that participated in the exercise, together with their principal amounts.

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So, in conclusion, PiggyVest is actually and currently the best money saving and investment app that you can find anywhere on the internet right now, with no caps.

2. Carbon

Best apps to save and invest money in Nigeria

Download now: Carbon loan and savings app.

Aside from being one of the best loan apps out there to get quick personal cash loans without collateral in minutes, the Carbon app can easily pass as one of the best money-saving and investment apps out there, both in Nigeria and in other parts of the world where the Carbon brand is recognized.

It is a CBN licensed company, and just like PiggyVest, they give you a range of options to save your money, and at the end of the day, you can actually earn anywhere between 9.5 to 11% on interest.

All you have to do is; download the app, create an account if you haven’t done that before, and start saving and earning.


And as if that is not enough, Carbon also lets you create virtual Mastercard and Visa cards on the app, complete with your name on it, the card number, expiration date, and CVV number, so you can use it to make online transactions on any platform in the world.

3. Branch app

Download now: Branch mobile loan & investment app.

Branch is another robust app that lets you save your money with them, in other words, investments, and they’re actually the one app that pays the highest interest rate, up to 20%.

Just like Carbon, they are also licensed by the CBN, and aside from saving your money, you can also secure quick personal cash loans from them if you’re in desperate need of some cash.

Branch gives you two basic saving or investment packages, the Fixed, and Flexible investment packages.


For the fixed, you can lock your investment with them for 1 to 12 months, while for the flexible, you can withdraw your investment together with any accumulated interest on it, whenever you like.

The Branch app also has a feature that lets you calculate how much interest will be accumulated on your investment after 7 days, 30 days, and 90 days, even before making the actual investment.

So, if you’re looking for an app where all you literally have to do is deposit your money while earning up to 20% annual interest on it, then the Branch app is definitely one of the best savings and investment apps you can find around right now.

4. Cowrywise

Download now: Cowrywise online saving and investment app.

Cowrywise is more of a take on the PiggyVest app that we talked about at the beginning of this list. They are simply two different Fintech companies, offering the same services under different branding.

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They’re actually licensed by the Nigerian Securities and Exchange Commission (SEC), so, you don’t have anything to worry about here in terms of your funds disappearing into thin air on a very good day.

And like with the PiggyVest app, you also get a handful of saving plans that you can choose from, but, Cowrywise actually have one of the lowest interest rates out there, somewhere between a minimum of 3%, and a maximum of 8%, reason why I do not strongly recommend it, and secondly, there are no flexible saving plans, as your funds must be allowed to stay at least up to 90 days on the app once invested or saved before you can withdraw it.


So, if you’re really strict on saving, and want to avoid tampering with the money at intervals, then Cowrywise might actually be the best app for you, but if you like very flexible saving and investment plans where you can withdraw your money whenever you like, then you should completely stay away from Cowrywise.

5. Kuda bank app

Best apps to save and invest money in Nigeria

Download now: Kuda online banking and saving app.

Kuda is an online microfinance banking app that lets you make transactions just as your regular banking app, they even give you access to a free virtual debit Mastercard or Visa card, and of course, the privilege to save your money with them, while earning up to 15% interest per annum on it in return.

They have a special plan called the “Spend + Save” plan, and what this does is, anytime you withdraw money from the app, a certain amount will also be saved for you.

So, the more you spend, the more you save as well. It’s a win-win situation.

6. OPay mobile banking app

Download now: OPay mobile banking app.

OPay is an app that started as a simple mobile banking app, and as time went on, they have managed to spread their wings so wide, that they now offer additional banking-related services like granting of loans, issuing POS machines, and of course, saving of money.


So, with the OPay app, you get two different saving plans that you can choose from, and depending on the one you choose, you can earn anywhere between 1 to 15% return on interest.

No long stories, no long caps.

8. Alat app by Wema Bank

Download now: Alat app, by Wema Bank.

Unlike other apps that are privately or cooperatively owned by various Fintech companies or even startups, the Alat app is a full-fledged mobile banking app owned by Wema bank.

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On the app, you can carry out a host of banking transactions such as sending and receiving money, securing and repaying loans, creating virtual debit naira and dollar cards, and of course, saving and investing your money, and you don’t even need to be a Wema Bank customer before you can have access to all these features.

And in terms of saving and investing your money, the Alat app gives you up to five different options or packages, with the interest rate starting at 3.75%, and going all the way up to 8.75%, and this depends on the amount of money you’re willing to save or invest, but one nice feature that you can’t find on other apps is the fact that you can even save or invest your money in dollars.

So, if you’re looking for an app that gives you lots of savings and investing options, and even the option to save your money in foreign currencies, and also earn interest on it in foreign currency, then the Alat app by Wema bank is definitely one of the best savings and investment app that you can find in the country right now.

9. Fairmoney

Best apps to save and invest money in Nigeria

Download now: Fairmoney online loan app.

Okay, so here is the last app for the day, but definitely not the least, the Fairmoney app.


Fairmoney is strictly an online mobile loan app to secure quick cash loans without collaterals in minutes, and there is nowhere it mentions that you can save your money with them on the app, but, the reason why it’s included in the list, is the fact that you can actually deposit your money in your Fairmoney online mobile wallet present on the app, to be used later for payments and transactions, the money doesn’t accumulate any interest whatsoever, because like I said before, Fairmoney never said you can invest your money with them, at least for now, but it’s just like a safe haven where you can stash away some cash for later use.

And that wraps it up for today on the best apps to save or invest your money in Nigeria while earning interest on it in return.

If you have any questions, please leave them in the comments section below, and if you happen to find this post helpful, kindly give it a thumbs up by sharing it, and as always, I’ll see y’all tomorrow, #peace out.

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