PiggyVest has been around for quite a while now, precisely since 2016, but a lot of people are still ignorant or sceptical about this wonderful platform that is a breath of fresh air when it comes to secure saving and investment in the Nigerian banking ecosystem.

In this article, I will try as much as possible to explain what it is and how PiggyVest can help you save, invest, and grow your money effortlessly in a very secure way.

So, let’s get started…shall we?

What Is PiggyVest?

PiggyVest (formerly PiggyBank) is simply an online banking platform that allows users to save and invest their money seamlessly.

What Is PiggyVest?
Credit: PiggyVest

This digital platform was launched back in 2016 by a group of three young and smart tech entrepreneurs who saw the need for a simple and easily accessible saving platform to meet the needs of teeming Nigerians looking for an easier way to save and invest their money.

According to PiggyVest website, over 2 million people have used their platform to manage their money better, avoid over-spending, and be more accountable since launching in 2016.

This goes on to show how successful this platform has been in Nigeria.

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Is PiggyVest Legit or Scam?

PiggyVest is very legit and not a scam. It operates as a registered and licensed Microfinance bank and also as a registered cooperative in Nigeria with the license to do legitimate business.

PiggyVest has been featured on a number of reputable platforms including Forbes, Techcrunch, and many other notable platforms.

And to ensure that your savings are in very good hands, all saved funds within PiggyVest are warehoused with and managed by a leading SEC (Securities and Exchange Commission) registered and licensed assets management company, AIICO Capital.

All financial information within the platform is encrypted and stored to PCI DSS Level 1 compliant standards, and this is the highest possible rating one can get in the electronic payment processing industry at the moment.

Equally, all transactions on the PiggyVest platform are transmitted via an encrypted 256-bit HTTPS SSL connection.

How Does PiggyVest Work?

This amazing app was primarily built to help users save and invest their money with ease.

How PiggyVest Works?

Now, let’s look at how PiggyVest can help you achieve these two important goals.

1. Savings Functionality

We all know that the ability to save money consistently is not quite easy. It requires a whole lot of discipline and dedication to get it right.

PiggyVest has several saving products (Piggybank, Safelock, Targets, etc) and juicy interest rates (up to 13% p.a) to meet the various demands of its growing users. (We will discuss each of these products and their interest rate later in this article.)

However, one particular feature that interests me the most is the AutoSave feature. With the AutoSave feature, PiggyVest now makes it super easy for users to save on autopilot.

You don’t have to remember to save, PiggyVest does it for you on autopilot. All you need to do is set it up once and sit back and enjoy seamless automatic savings.

You can set any particular amount to be credited into your PiggyVest savings from your regular bank account either on a daily, weekly, or monthly basis or on any particular day or time interval you deem fit.

This feature can be used to save for rent, a new car, a house, further education, or that important event in your life.

And if you missed one or two saving intervals because of an insufficient fund in your bank account, you can easily make it up in the future using another incredible feature, the QuickSave feature.

With the QuickSave feature, users can manually save any amount whenever they like starting from as low as N50 (fifty naira).

To encourage users to save more, PiggyVest offers its users very juicy interest rates across its savings products to make sure you earn what you deserve while keeping your money safe with them.

2. Investment Functionality

A lot of people have lost their money to different scam investment opportunities over the years like the defunct popular MMM pyramid program.

Coming to the rescue, PiggyVest has come up with secure savings and investment opportunities for its ever-growing users.

To get started, PiggyVest offers a whopping 6% — 13% per annum interest rate across the various savings products on their platform.

This rate is a far cry from what you can get from your regular brick-and-mortar bank, even on a fixed deposit account.

Also, the Investify investment product on the platform allows users to earn between 12 — 25% returns by investing in pre-vetted, low to medium risk primary and secondary investment opportunities.

These investment opportunities maturity typically ranges from 6 — 12 months, and PiggyVest ensures they have proper insurance cover in case of any mishap.

At worst, you are likely getting your capital back if anything happens along the way with any Investify investment.

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What Is The Difference Between PiggyVest and Normal Bank Account?

Some people will rightly ask, “Why should I choose PiggyVest over a normal commercial bank saving account?”

The Difference Between PiggyVest and Normal Bank Account?

To answer the above question, let’s look at how PiggyVest differs from conventional commercial bank savings account below:

1. Higher Interest Rate

PiggyVest offers interest rates ranging from 6% — 13% per annum on its savings products and then between 12% — 25% on its investment product, Investify.

This is a far cry from the ridiculously low interest rates offered by the conventional bank on savings, and that is if you meet their stringent conditions for getting the interest in the first place.

2. Penalty For Breaking Set Plan

To help you develop a culture of saving and minimize your spending, PiggyVest penalizes you for accessing your fund before the set due date.

If you decide to withdraw before the set due date, Piggyvest now charges you up to 5% of the amount you wish to withdraw. This is a very commendable feature to discourage users from impulsive spending.

As you already know, this important feature is lacking in our conventional bank setup.

In fact, you have unrestricted 24/7 access to your savings in any of the conventional banks — making it quite difficult to save for most people.

3. Built-in Investment Opportunities

Well, with PiggyVest, you don’t need to go far to find opportunities to invest your money and earn even higher returns.

With the built-in Investify product, you can earn between 12 – 25% returns on investment within a space of 6 – 12 months period by investing in any of the pre-vetted and insured investment opportunities made available under the PiggyVest Investify platform.

As we can already testify, no such secure investment opportunities exist within any of the conventional banks at the moment.

4. Automatic Savings

I cannot overemphasize the importance of the automatic saving of the PiggyVest platform.

First of all, it disciplines you and helps you to cultivate the hard-to-develop saving habit. Secondly, it makes it easy and seamless to save on autopilot.

As we already know, this important feature is lacking in our conventional bank. What comes close to that feature is the standing order which is a topic better left for another day.

With all the features mentioned above, it’s a no-brainer that PiggyVest beats conventional bank saving account hands-down when it comes to saving and investment.

The question now is…in what ways can PiggyVest help you save and invest your money?

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6 Ways PiggyVest Can Help You Save and Invest Your Money

Here comes the most interesting part where we learn how PiggyVest can help you save and invest your money.

How PiggyVest Can Help You Save and Invest Your Money

Now, let’s look at the various PiggyVest products and their features one after the other to see how they can help you save and invest wisely.

1. Piggybank

Piggybank is the primary savings account on the PiggyVest platform.

Here, you can save automatically into this account using the AutoSave feature, or manually using the QuickSave option.

PiggyVest Piggybank Product

The interest rate on this account is 10% per annum*, and the accrued interest is paid on the 1st of every month into a separate Flex account where the fund is readily available for your use.

One notable feature of this account is that you cannot freely withdraw from this account anytime you want.

You can only withdraw on the four predetermined withdrawal dates: March 31st, June 30th, September 30th, and December 31st; or on an individually specified date which must not be less than three months away from your last withdrawal date.

To prevent impulsive spending, any withdrawal before the set withdrawal date will attract up to a 5% penalty on the amount you wish to withdraw.

2. Safelock

Safelock is the fixed deposit product of the PiggyVest platform.

But unlike the fixed deposit we have in the conventional bank, the calculated interest in the Safelock deposit is paid upfront into your Flex account and immediately available for your use.

PiggyVest Safelock Product

What this means is that you get to enjoy the interest even before the maturity of your fixed deposit. Incredible, isn’t it?

The tenure for the Safelock deposit ranges from 10 days to 2 years, and the interest rate varies between 6–13% per annum depending on the duration of the deposit.

The minimum and maximum amount a user can deposit in Safelock are N1,000 (one thousand naira) and N100,000,000 (one hundred million naira) respectively.

It is very important to note that funds deposited into the Safelock account cannot be withdrawn until maturity, not even if you decide to close your PiggyVest account.

So, before you lock up that fund in Safelock, make sure you will not be needing it until the set maturity date.

Safelock allows you to have different deposits with different maturity dates.

Lastly, you can as well top up your deposit anytime provided the duration to maturity is above 90 days.

3. Targets

The Targets saving on the PiggyVest platform enables you to save towards a particular financial goal — it could be your rent, a new car, your wedding, or towards starting a new business.

PiggyVest Targets Product

You can create a personal target or a group challenge with multiple users. You can invite your friends at any time to join your set Target.

Targets’ interest rate is set at 9% per annum* and accrues on daily basis. But unlike Piggybank interest that is paid at the end of every month into your Flex account, Targets’ interest is only paid upon maturity.

However, if you fail to meet the set Target upon maturity, you will lose any accrued interest and nothing more.

But breaking a Target before maturity will cause you to lose any accrued interest for that Target and also get you charged as much as a 1% penalty.

You can set multiple Targets with different maturity dates.

Also note that you cannot break a locked Target until maturity, not even if you choose to close your PiggyVest account.

4. Flex Naira

This is more like a wallet where accrued interest from other PiggyVest accounts like Piggybank, Safelock, and Targets are paid into.

PiggyVest Flex Naira Product

Fund in this account can be withdrawn to your conventional savings account with any bank, or used to fund other PiggyVest accounts.

The interest rate on the Flex account is 8% per annum*. Interest is paid every month provided you did not exceed four withdrawals in a month.

5. Flex Dollar

Flex Dollar allows you to save, invest, and transfer funds in dollars (USD).

PiggyVest Flex Dollar Product

This is a very important product especially for those who wish to save and invest in a more stable currency given the free-falling of the Naira in recent times.

You can fund your Flex Dollar account using funds from your Flex Naira account or with a bank debit card. The interest rate on the Flex Dollar account is set at 7% per annum*.

The interest is also compounded monthly instead of being paid out.

6. Investify

Investify is a highly sought PiggyVest feature that allows users to earn more on their savings by investing in pre-vetted, low to medium risk primary and secondary investment opportunities.

PiggyVest Investify Product

The return on Investify investment ranges from 12 – 25% depending on the type of investment and the duration. The interest could be paid daily, monthly, quarterly, or at the end of the investment period.

The typical maturity period for these investments ranges from a 6 – 12 month period.

And to ensure that its users are safe and protected, all investment opportunities listed on PiggyVest are pre-vetted for maximum safety. Also, PiggyVest ensures that all investment opportunities under their platform have proper insurance cover in case of an unforeseen mishap.

Additionally, users can optionally add an extra layer of security, the PiggyVest Extra Capital Protection, to ensures that their capital is adequately protected.

Honestly, Investify is a very popular product on the PiggyVest platform. Therefore, don’t be surprised if you will have to play the fastest fingers to catch an investment opportunity because they are usually oversubscribed as soon as they are rolled out.

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What Interest Rate Does PiggyVest Offer?

PiggyVest offers varying interest rates across the range of products on its platform.

And the rates change from time to time depending on the micro and macro economic climates in the country at the moment.

As of the time of writing/updating this article, here are the available interest rates across various savings and investment products on the PiggyVest platform:

  • Piggybank

    10% per annum

    Interest is paid monthly into the Flex Naira account.

  • Safelock

    6 — 13% per annum

    The longer the set duration, the higher the interest rate. Interest is paid upfront into the Flex Naira account and available for your immediate use.

  • Targets

    9% per annum

    Interest is paid upon maturity of set Target provided you meet the set target; otherwise, you will lose any accrued interest.

  • Flex Naira

    8% per annum

    Interest is paid monthly provided you did not withdraw more than four (4) times in the given month.

  • Flex Dollar

    7% per annum

    Interest is compounded every month, i.e., interest for a given month is added to the capital for the next month.

  • Investify

    12% — 25%

    The interest depends on the type of investment and the duration. Interest could be paid daily, monthly, quarterly, or at the end of the investment period into the Flex Naira account.

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Other Ways To Earn Money With PiggyVest

Other Ways To Make Money With PiggyVest

Apart from making money by earning interest on your savings and investments on the platform, you can also make extra money on the platform through the following methods:

1. Referral Program

PiggyVest has a very enticing referral program where you, the referrer, and the person you referred to the platform earn a whopping ₦1,000 (one thousand naira) each once the person you referred successfully signs up and validates her account on the platform.

This is a win-win situation for both of you — you get paid for referring someone to the platform, and the person you referred also gets paid.

The referral bonus is initially paid into your Safelock account and matures after ten days into your Flex Naira account.

I have made some money via this program alone and I suggest you also sign up using my link below to get your own N1,000 free money without sweats.

ATTENTION: Click here to sign up with my link and get your own ₦1,000 to start your savings and investment journey on PiggyVest!

2. Piggy Points

PiggyVest Piggy Points is a way of rewarding users for saving consistently.

The more you save in your Piggybank and Targets accounts (using either Autosave, Quicksave or Quick top-up), the more you earn.

You earn points by saving at least ₦2,000 (two thousand naira) from your debit card to your Piggybank or Target account ONLY.

The point earning system goes thus:

₦2,000 — ₦4,999 = 1 point
₦5,000 — ₦9,999 = 2 points
₦10,000 — ₦49,999 = 10 points
₦50,000 — ₦99,999 = 25 points
₦100,000 and above = 55 points

Once you have accumulated Piggy Points, you can now convert your points to cash in your Flex Naira account at the rate of 1 Piggy Point to ₦10 (ten naira).

How To Create A PiggyVest Account

For a while now, we have been talking about the PiggyVest features and how they can help you save, invest, and grow your money as a saving-minded person.

How To Create A PiggyVest Account

However, the time has come for me to ask you one important question, and that is, “Are you ready to get your own PiggyVest account and start your saving and investing journey the smart way?

If your answer is “YES”, then CLICK HERE NOW to visit the official website of PiggyVest and sign up for your own account for free.

If you use the above link to sign up, you will qualify to get ₦1,000 (one thousand naira) free money to help you get started with your saving and investment journey.

How To Activate and Withdraw The PiggyVest Referral Bonus

Once you sign up and create your account using THIS LINK, you will automatically qualify to get a ₦1,000 (one thousand naira) sign up bonus to help you begin your saving and investment journey.

However, people usually find it hard to withdraw the PiggyVest referral bonus because they don’t know what steps to take to activate it.

I equally faced a similar challenge before I fully understood how it works.

To withdraw your referral/sign up bonus, you have to go through the following steps below:


Link your BVN (Bank Verification Number) to your PiggyVest account. Don’t worry, your BVN is only needed to confirm the identity (name, phone number & date of birth) supplied to the platform and nothing more.

To link your BVN, simply go to Saving, click on Flex Naira account, then click on the GET ACCOUNT NUMBER button, and follow the subsequent instructions to link your BVN on PiggyVest and get your account number.


Fund your Flex Naira account with at least ₦100 (one hundred naira) via a direct bank transfer to your new Flex Naira account number that you got after linking your BVN in step one.

So, go to your regular bank account and transfer at least ₦100 (one hundred naira) directly to your new Flex Naira account number.


Fund any other two PiggyVest accounts with at least ₦1,000 (one thousand naira) each. This could be Piggybank, Safelock, or Targets account. The funds need to be maintained in both wallets until the bonus has been paid.


Then wait for 10 days to allow your bonus to mature from the Safelock account/wallet where it was initially credited.

After the 10 days of waiting, your bonus will mature into your Flex Naira account and be ready for your withdrawal or other uses.

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Conclusion: Is PiggyVest Really Worth It?

Without doubts, PiggyVest is one of the best saving and investing platforms in Nigeria at the moment. It makes it safe and super easy for you to save and invest your money.

PiggyVest claims that Nigerians save over 1 billion Naira with their platform every month!

And here are the reasons why over 2 million other Nigerians, including myself, choose PiggyVest:

  • It is a regulated and secure platform, which means you can go to sleep when you trust your money with them.
  • It makes it very easy to start and develop the habit of saving and investing for the future.
  • Rewards you for saving and investing your money with very good interest rates - better than any conventional bank can offer you.
  • Helps you set goals (Targets) and motivates you towards achieving them. (This is one of my favourite features.)
  • Pays you and your friend each time you refer a friend to their platform using your referral link.
  • Gives you redeemable points (Piggy Points) for saving your money with them.
  • Very easy to use app interface — both their web and mobile apps are very easy to use and navigate.
  • Offers top-notch customer service to their ever-growing customers.

In conclusion, PiggyVest is definitely worth it and I recommend you start using them from today to save, invest, and grow your money wisely.

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