PiggyVest in Nigeria – Saving and investing are critical aspects of achieving financial stability and independence. However, for many people, knowing how and where to save and invest can be a difficult and confusing task.
Fortunately, PiggyVest offers a user-friendly and accessible platform for individuals in Nigeria to save and invest their money.
What is Piggy Vest?
PiggyVest is a Nigerian-based financial technology (fintech) company that provides an online savings and investment platform.
The platform offers a variety of savings and investment options that enable individuals to reach their financial goals.
How to Save and Invest with PiggyVest in Nigeria(2023 Update)
If you’re new to Piggy Vest, here are six steps to help you get started with saving and investing your money:
- Create an account
- Fund your account
- Set your savings and investment goals
- Automate your savings and investment
- Monitor your progress
- Withdraw your funds
Create an Account
The first step in saving and investing with Piggy Vest is to create an account. You can do this by downloading the PiggyVest app from the App Store or Google Play Store and following the prompts to sign up. You will be requested to provide information which includes your name, email address, and phone number.
Fund Your Account
After creating your account, you need to fund it. PiggyVest offers several funding options, including bank transfer, debit card, and USSD.
To fund your account via bank transfer, simply transfer money to the provided bank account number with your unique PiggyVest reference code as the narration.
You can also fund your account using your debit card or USSD by selecting the appropriate option in the app.
Set Your Savings and Investment Goals
Once your account is funded, you can begin setting your savings and investment goals. PiggyVest offers a variety of options to help you achieve your financial goals.
You can choose from options such as the Piggy Bank savings plan, the SafeLock investment plan, and the Target savings plan.
Piggybank Savings Plan
This plan allows you to save money at your convenience, either daily, weekly, or monthly, based on your set savings goal.
The plan is designed to help you cultivate a savings culture and develop a habit of saving consistently.
You can set your own target and duration for saving and earn up to 6% interest per annum.
SafeLock Investment Plan
This plan helps you invest your money and earn interest over a fixed period of time.
You can choose the duration of your investment, ranging from 10 days to 1 year, and earn interest of up to 15.5% per annum.
Target Savings Plan
This plan helps you save towards a specific target, such as a wedding, vacation, or house rent.
You can set your target, duration, and frequency of saving, and earn up to 10% interest per annum.
Automate Your Savings and Investments
To ensure that you meet your savings and investment goals, it’s important to automate your contributions.
With Piggy Vest, you can automate your savings and investments by setting up recurring transfers.
This ensures that you don’t miss any contributions and makes it easier to reach your goals.
Monitor Your Progress
It’s important to regularly monitor your savings and investment progress. With Piggy Vest, you can easily track your progress through the app
You can see your savings balance, investment portfolio, and interest earned. This helps you stay motivated and on track to achieving your financial goals.
Withdraw Your Funds
If you need to withdraw your funds from Piggy Vest, you can do so at any time
However, some plans, such as the SafeLock investment plan, have a penalty for early withdrawal.
To withdraw your funds, simply navigate to the Withdrawal section in the app and follow the prompts to initiate your withdrawal.
Benefits of Saving and Investing with Piggy Vest
Saving and investing with Piggy Vest offers several benefits, including:
High-Interest Rates
PiggyVest offers competitive interest rates on its savings and investment plans. This means that you can earn more on your money compared to traditional savings accounts.
Convenience
Piggy Vest is an online platform, which means you can save and invest from the comfort of your home or office.
You don’t need to visit a physical bank branch to access the service.
Flexibility
PiggyVest offers a variety of savings and investment options, which allows you to choose the option that best suits your financial goals and situation.
You can choose the duration, frequency, and target of your savings and investments.
Automated Saving
PiggyVest offers automated savings, which takes the hassle out of saving. You can set up recurring transfers to ensure that you meet your savings goals without any effort.
Security
PiggyVest takes the security of its users’ funds very seriously.
The platform is protected by industry-standard encryption and security protocols, and all funds are held with licensed financial institutions.
No Hidden Charges
PiggyVest does not charge any hidden fees or penalties, which means you can rest assured that you are getting the best value for your money.
Conclusion
Saving and investing with Piggy Vest is a smart way to achieve your financial goals.
By following the six steps outlined above, you can easily create an account, fund it, set your savings and investment goals, automate your contributions, monitor your progress, and withdraw your funds when needed.
With Piggy Vest, you can earn high-interest rates, enjoy flexibility, and benefit from automation, security, and transparency.
Start saving and investing with PiggyVest today and take the first step towards achieving financial independence.
For more information, you can log on to their account at https://www.piggyvest.com/
Piggyvest Frequently Asked Questions
What is Piggy Vest?
PiggyVest is a digital savings and investment platform that helps individuals save and invest money easily and securely.
Is PiggyVest safe?
Yes, PiggyVest is safe. The platform is protected by industry-standard encryption and security protocols, and all funds are held with licensed financial institutions.
How do I create an account on Piggy Vest?
To create an account on Piggy Vest, simply download the PiggyVest app from the App Store or Google Play, or visit the PiggyVest website and click on “Create an Account”. You will be prompted to provide your personal and bank details.
What is the minimum amount I can save or invest in PiggyVest?
The minimum amount you can save or invest on PiggyVest varies depending on the plan you choose. The Piggybank plan has a minimum saving amount of ₦100 ($0.25), while the Fixed Income plan has a minimum investment amount of ₦10,000 ($25).
How do I withdraw my funds from Piggy Vest?
To withdraw your funds from Piggy Vest, simply log into your account, select the plan you want to withdraw from, and follow the prompts to initiate the withdrawal process.
Does PiggyVest charge any fees or penalties?
No, PiggyVest does not charge any hidden fees or penalties. All costs are transparently displayed on the platform, and there are no hidden charges.
Can I cancel a savings or investment plan on PiggyVest?
Yes, you can cancel a savings or investment plan on Piggy Vest at any time. However, you may be charged a penalty fee for the early termination of a plan.
Can I open multiple accounts on Piggy Vest?
No, Piggy Vest only allows one account per individual. Multiple accounts are not permitted and may result in account suspension.