So, previously, we’ve talked about some of the best apps where you can easily get quick personal cash loans in minutes without collateral, but, what about saving and investing money instead? What are the best apps out there that anyone can use to save or invest their money, right here in Nigeria?
Well, here you go…
The top 7 best & most-trusted apps to save & Invest your money in Nigeria, in 2021.
- PiggyVest mobile saving app.
- Carbon (formerly PayLater).
- Branch app.
- Kuda bank app.
- OPay mobile banking app.
- Fairmoney loan app.
As you can see, the apps contained in this list are quite a few, and that is because I have chosen only the best apps out of the million apps out there that claim you can save 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, no need to fret.
And just to be clear here, I’m not here to tell you about investing your money in shares, stocks, and cryptocurrencies, as that is simply not what this article is about. This article is strictly about saving your money with any of the above listed apps, and earning interest on it in return, which in theory, is still regarded as “Investing“.
So, having known that, now let’s get to business.
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 naira keeps depreciating. Lmao.
And you can save together with friends on the app too to meet a given goal. Like, you guys come together, you set a goal by setting a target amount, and in a given time, and at the end of the day, the accumulated interest generated is shared amongst each member, together with their principal amounts.
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, no caps.
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, Carbon also prides itself as one of the best apps to save or invest money, 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 isn’t 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 and process online transactions on any platform in the world.
3. Best money saving apps – Branch app.
Download Now: Branch mobile loan and 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%.
And just like Carbon, they are 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, and one thing I like the Branch savings plan is the fact there are no plans at all.
All you have to is deposit your money in your investment wallet, and at the end of the day, every Monday of the week actually, you get paid back a particular percentage of whatever amount you invested, alongside your capital, no long procedures, and no long caps.
Another thing I actually like about the Branch app is the fact that you can withdraw any amount of money you want from your investment, and the remaining amount will still be left there, while still accruing interest for you, and if you want, you can also add some more cash to it. Very flexible.
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. This is simply two different Fintech companies, offering the same services under different branding.
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 the Cowrywise money saving and investment app.
5. Kuda bank app.
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 it, 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 other additional banking related services like granting of loans, 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.
7. Best money saving apps – Fairmoney.
Download Now: Fairmoney online loan app.
Okay, so here is the last app for the day, but definitely not the least online mobile money saving app you can find out there on the internet, the Fairmoney app.
The Fairmoney is strictly an online money loan to secure quick cash loans without collaterals in minutes, and there is no where it is mentioned that you can save your money with them on the app, but the reason why I included it here is the fact that you can actually deposit your money in your Fairmoney online mobile wallet present on the app, to be used for later payments and transactions, the money doesn’t accumulate any interest whatsoever, because like I said before, Fairmoney never said you can save 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.
So guys, these are basically all the best apps right now, that you can make use of to save and invest your money while earning interest on it in return, instead of it just sitting there in your bank account all day doing nothing, and in the worst case scenario, even depreciating in value.
So, kindly let us know what you think about these apps in the comments section below, and if you find this article helpful and informative, kindly give it a thumbs up by sharing it, and as always, I’ll see you all tomorrow, #peace out.