Top 6 Money Saving & Investment Apps In Nigeria With Good Interest Rates

Nigeria Money Saving and Investment AppsAre you looking for the best and legit investment and money saving apps and online platforms in Nigeria with good interest rates in 2022?

If YES, this article is only what you need to read today.

Despite the challenges with putting money aside for the rainy day, saving improves our financial situation over time and makes it easier for us to accumulate wealth.

Saving your money gives you more freedom and opportunity; for example, it allows you to invest more, go on more vacations, and be a more generous person.

Saving money has finally become easier, thanks to online money saving apps and websites in Nigeria (most of which are free and available at your fingertips) that have stepped in to make saving easier and more acceptable to Nigerians.

With these apps, you can save your money without necessarily going to the bank.

I’ve provided a comprehensive list of the best money savings apps to help you budget, save, invest, and manage your finances.

With lots of money-saving apps available, the only thing you’ll need to do is to sign up and link a credit card and start saving.

So, ensure to take your time and read to the end to avoid making the wrong choices.

Getting started…

What are Money Saving Apps?

Saving is basically the process of setting aside a percentage of your earnings.

This percentage can be used to take up projects, make investments, and also serve as a provision to take care of unforeseen occurrences.

Money saving applications are mobile tools and online platforms designed to automate the process of saving letting interested individuals and businesses to easily save, invest and earn good interests without needing to visit a bank.

Features of Good Money Saving Apps

A good investment and money saving app or service/company must be able to possess and maintain all or many of the following policies:

  • Must have a strong security level
  • Must be mobile friendly
  • Must have good savings and payment options
  • Must have a considerable interest rate
  • Must be fully registered with the proper agency
  • Must not have hidden charges
  • Must have fair customer’s policies
  • Must have terms and conditions for its customers

Money Saving Apps Advantages

These are some of the benefits you get in using the best investment and money apps in Nigeria.

  • 24/7 accessibility
  • Ability to save and earn interests in naira, dollars and various cryptocurrencies
  • Apps are available for Android, iOS, and Windows phone
  • Apps ensure that savers remain disciplined by using penalty charges on early withdrawal from your savings as an incentive
  • Automation of hard work, and all you have to do is take advantage of the savings
  • Flexible payment and saving options – the type that works best for you depends on your current financial position and your goals
  • Having money saved up can give some peace of mind and also gives you options
  • Investment of your money in various projects (such as education and agriculture) for long term growth and savings
  • No paperwork required
  • Offer really high-interest rates compared to the low interest rates of some banks in Nigeria

Requirements Needed To Save Money Online in Nigeria

These are some requirements and documents that you need to provide before you’ll be able to save your money online using various apps/platforms.

  • You must be above the age of 18 years old
  • You must have a Valid ID card for verification (National ID, Voters Card or Passport)
  • You must have a Bank Account and Bank Verification Number (BVN)

Steps To Save Money Through Online Apps in Nigeria

Here is a quick step to save and invest your money successfully through any money saving apps in Nigeria:

  • Choose and download the saving app(s) of your choice from Google Playstore or iOS store.
  • Install the app on your phone. Open the app, register with your correct details and any document needed.
  • Check interest rate (if available) and choose your preferred saving options (amount and duration).
  • Confirm, submit and make payment and then allow it to be processed.
  • Once approved, the cash equivalent will be debited from your bank account and your saving plans will be updated.

Top 6 Money Savings & Investment Apps For Nigerians In 2022

6. Carbon

Carbon Saving App

Opening an account and saving with Carbon ushers you into a relationship with one of the most secure digital banks insured by NDIC and certified by CBN.

Carbon offers savings plans that are suitable for anyone in Nigeria.

With Carbon, you can easily create a bank account, create physical debit cards and virtual cards in Nigeria.

Interest rates offered by Carbon beat the ones offered by traditional banks. You save, and it’s grown.

You can create automated inflows into your investment plan at your own chosen time of the month.

With Flexsave investment option, you can invest as little as ₦100 to ₦100,000,000, and available investment tenors range from 28 days to 366 days, annualized interest rate is 8% for unlocked and 9% for locked savings plan.

With Cash Vault Savings, qualifying savings amounts range from ₦50,000 to ₦100,000,000, interest rate ranging from 9.5% -11% annualized and available savings tenors are 3, 6, 9 or 12 months.

5. V Bank

V Bank Saving App

V bank owned by VFD Microfinance Bank is another digital bank in Nigeria that offers people the ability to save and get high interest on their savings.

You can open a V bank account in 2 minutes with just your smartphone.

With a V account, you can expect a streamlined digital and mobile banking experience, with ease of access to your accounts, swift and secure transfers, withdrawals and bill.

You can take charge of your banking. No confusing charges, no paperwork and everything happens on your phone.

The V app allows its users to track their expenses and income, group budgets, and set spending limits.

To get started – Just download the app from Apple store or Google Playstore, open and activate your account in 2 minutes with your BVN and phone number.

V Bank will give you up to 8% compounded interest per annum on V Target Savings.

4. Kuda Bank

Kuda Bank Saving App

Saving money can be hard. We’ve been there. But there’s an easier way you’ll love. It begins with downloading Kuda.

Kuda Bank is a free, digital-only bank with a microfinance banking license from the Central Bank of Nigeria.

Without any paperwork needed, you can open a bank account in minutes with this app.

Because Kuda is a digital-only bank, all its operations happen through smartphones.

Kuda includes tools for tracking your spending habits, saving more, and making the right financial decisions.

Kuda Customers get 25 free transfers to other banks every month. Extra transfers to other banks cost ₦10 each.

Kuda account holders can deposit money in over 10,000 branches across Nigeria for free.

The platform has over 1M+ downloads and 4.4/5 rating on Google Playstore.

Kuda Features

  • Spend+Save – Is an exclusive feature that saves money for you automatically every time you spend from your Kuda account. To use this feature, set a percentage to save when you spend. You can withdraw from your Spend+Save savings.
  • Flexible Savings – You can save towards a goal and earn up to 10% interest.
  • Fixed Savings – You can use this and save a lump sum for a fixed time and earn up to 15% interest.

3. Cowrywise


Cowrywise is a finance management system that lets you save and also invest your hard-earned cash.

Cowrywise takes away the stress and planning required to save and invest on a regular basis through its automated and easy-to-use platform.

Your savings also generate interests until a set maturity date.

You can use Cowrywise to plan towards your dream home, kid’s education and travel the world.

Cowrywise is suitable for anyone who:

  • Never want to miss their saving and investment goals again.
  • Wants to save and invest even while they are asleep.
  • Wants the discipline to keep their savings and investments for a long period of time without tampering with them.
  • Wants to plan their financial goals with easy-to-use financial tools.

Types of savings and investment plans available on Cowrywise include:

  • Regular Savings. With this, you can set your savings plan to be daily, weekly or monthly for a minimum of 3 months. You need only to specify this once during the setting up of your plan and Cowrywise will ensure this money is saved automatically on those specified days into your Cowrywise savings plan. You can also choose to manually top up your savings plan randomly with other amounts outside the automated scheduled amount.
  • Life Goals. These plans help you meet commitments to long term financial goals. These are similar to periodic plans but they have a minimum maturity period of 1 year.
  • Halal Savings. These are for Muslims who don’t want to earn interest on their savings. They can be set up as periodic plans, life goals, save as you earn plans or fixed plan; but they won’t attract any form of interest.

All dreams count, so you can create as many plans as you wish – Housing Plan, Car Plan, Wedding Plan, Education Plan, Children Plan, Vacation Plan and so on.

You have the flexibility to give each plan a unique name that resonates with your financial goals.

There is a minimum duration of 90 days and no maximum time limit in keeping your savings and investment with Cowrywise.

2. Binance


Binance is a popular, trusted and one of the world’s largest exchange platforms boasting of over 6 million users from more than 180 countries and allows you to buy, sell, save and invest daily, weekly or monthly in various cryptocurrencies including Bitcoin, Ethereum, Litecoin, Dogecoin, Cardano, Polkadot, Ripple, Binance Coin (BNB) and more in Nigeria.

Binance provides its services to its users by offering support for multiple languages (37 at present).

With the fluctuation of the Nigerian Naira (₦), using Binance you can easily convert and save your NAIRA into DOLLARS (via stable coins such as USDT and BUSD) and withdraw it anytime you want.

It isn’t wise to leave all your hard earn money in bank accounts that’s is always regulated by the Government and getting unnecessary bank charges and card maintenance fees.

You can buy and sell cryptocurrencies using your credit/debit cards, bank transfers and peer-to-peer exchange.

Binance has one of the lowest trading fees among crypto exchanges, which is just 0.1%.

Another amazing fact about the Binance platform is if you’re beginner without any knowledge on cryptocurrency, you’ll provided with free quality materials, tutorial videos and 24/7 support which will enable you easily use and benefit from the platform.

1. PiggyVest


Formerly known as Piggybank, PiggyVest is the first online “Savings and Investment” app in West Africa.

PiggyVest is on a mission ‘to give everyone the power to better manage and grow their finances’, and they intend to be the best at this.

Since launching in 2016, over 2,000,000 people are using PiggyVest to manage their money better, avoid over-spending and be more accountable.

You can choose to save little amounts of money periodically (Daily, Weekly or Monthly) towards a specific target OR lock away funds for a specified period of time.

Stress is taken away by combining simplicity, discipline, convenience, and flexibility to enable you to manage your finances better and achieve financial freedom.

There are no bank charges for transferring money to your PiggyVest account.

You can ONLY save between: N50 – N50,000 daily, N1000 – N200,000 weekly, or N3,000 – N500,000 monthly

However, you can always top up your savings at any time using the Quicksave option which allows you to add up to N500,000 per time.

4 Ways To Build Your Savings

Earn 5%-15% when you save with any of these PiggyVest plans.

Piggybank (Automated Savings)

Build a dedicated savings faster on your terms automatically or manually.

Safelock (Fixed Savings)

Lock money away for a fixed duration with no access to it until maturity. It’s like having a custom fixed deposit.

Target Savings (Goal-oriented Savings)

Reach all your savings goals faster. Save towards multiple goals on your own or with a group.

Flex Naira (Flexible Savings)

Save, transfer, withdraw, manage and organize your money for free at any time.

To start saving on PiggyVest:

  • Visit the website HERE to create an account.
  • Provide the required details including your correct name, email address and BVN.
  • Set up your withdrawal account details; this is the bank account that funds you withdraw will get sent to.
  • Enter your debit card details to activate your account and then make your first deposit. (You may use a MasterCard, Visa or Verve card from any Nigerian bank).
  • You may now proceed to use any of the Savings Plans to start your daily, weekly or monthly savings.

If you’re smart (which I know you are), immediately take action today and create your account using the link below and get your FREE ₦1,000 to start saving.

  Use this Special Link to Create Your FREE PiggyVest Account NOW!

Top 6 Most Reliable Money Saving and Investment Apps in Nigeria

Here’s a quick recap of the 6 best and most trusted money saving apps in Nigeria.

  • PiggyVest
  • Binance
  • Cowrywise
  • Kuda Bank
  • V Bank
  • Carbon

What are the Best Money Saving and Investment Apps in Nigeria?

The best money saving apps in Nigeria depend on your requirements, app trustworthiness, the amount you want to save and the interest rate offered.

From my own personal use, and that of many Nigerian’s reviews, the two best money saving and investment apps in Nigeria are PiggyVest and Binance.


Whether you are concerned about your finances, or just want to grow your net worth and portfolio, there are apps out there that can help you succeed.

If you are serious about making an impact on your financial picture, I’d recommend checking the ones out that make the most sense for your life.

I spent several hours researching each money saving and investment app on this list, so you can trust the integrity of the content.

There were several additional apps that I considered adding to this list, but ultimately choose to not add because of the app being poor quality and outdated.


  • These apps could request for your bank account details and BVN. Don’t give false information.
  • Each saving app/platform have its own terms and conditions. Ensure you review before saving and only include your bank details on verified apps.

Hope you enjoyed this article?

If you know any money saving and investment apps that is equally a good option or shouldn’t be in this list, please let us know in the comment section.

Tell us the app and why it is excellent or bad for saving/investment.

If you want to also learn about loan apps in Nigeria, be sure to check out the post below.

READ ⇒  10 Most Trusted Online Loan Apps In Nigeria With Low Interest Rates [Get ₦750k Now]

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About Saint Chinedu 67 Articles
My GOAL is to equip you with the right strategy and working information to improve academically, financially and also achieve a healthy lifestyle this year.

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