Saving involves the battles of choice, denial and tightened self will. Unless you’ve mastered the art of financial discipline or there’s a force that prompts you to save, you may never really save. This is why PiggyVest, which formerly launched as Piggybank NG has evolved in the fin-tech space to help over 250,000 users save over $20million in about three years of operations. In 2021 alone, Piggyvest made payouts in total of 200 Billion Naira. In the next few lines, I will share my encounter with PiggyVest and how you can explore the platform for best returns in your financial and savings life.
To sign up, visit the PiggyVest website by clicking here. After this, simply launch the application after installation (from Playstore or Appstore) and tap the “Create an Account” button to set up your PiggyVest account. If you already have an account, tap the “Login” button and enter your account credentials (phone number and password) to login to your account.
When you select “Create an Account”, you will be requested to supply personal details (full name) and contact details (email address and phone number) to register a new account. You will also need to create a password which will be used for subsequent log-in. You can also input a referral code if someone referred you to register. The account creation process is pretty much easy and takes less than 3-5 minutes.
BVN Verification
Before you proceed to start saving and investing, you should verify your account by supplying your Bank Verification Number (BVN). This is important in using the PiggyVest platform as you would not be able to save money efficiently and transfer funds to and from your savings accounts within the app if you don’t verify your BVN. To verify your BVN, tap the “My Account” settings button at the bottom of the page, navigate to “My BVN Settings” >> Add Your BVN >> Enter your 11-digit BVNnumber >> Validate BVN.To confirm your BVN, PiggyVest would place a phone call to the number associated with your BVN. During the call, the automated response will call out a 5-digit verification code. Take note of this code and input it into the provided box, enter your PiggyVest password in the next box and tap the “Save BVN” button to compete the BVN verification process.
If everything checks out, a congratulatory message informing you that you can now get the best out of your PiggyVest account will displayed.
SAVING
After creating or logging into your PiggyVest account, the next thing is to start saving, yes? On the PiggyVest app dashboard, select the “Build your savings” card to begin saving. Doing this will prompt you to tap the “Let’s Proceed” button to set up a saving account — Quick Save or Autosave. Before you proceed though, you will be required to add a debit/ATM card to your account by inputting your card details.
What the PiggyVest Autosave does it to automatically put away and help you save a specified amount of money from your bank account on a periodic basis; could be daily, weekly or monthly. The Autosave feature rewards you with 10% of your saving per annum. Basically, PiggyVest is not only making it easier to save but is also promoting the art of saving by rewarding users who save on its platform. One thing to love about PiggyVest is its flexibility. It allows you save anytime and anyhow you want to. PiggyVest's saving features includes.
1. Quick Save
The Quick Save feature of the PiggyVest app can be compared to the traditional way of saving via physical piggybanks. Quick save, as the name denotes, allows you set aside spare funds to your PiggyVest account at any time. With Quick Save, you can save multiple times in a day, a week or a month. To save money with PiggyVest’s Quick Save feature, open the Quick Save menu, enter the amount you want to save from your bank account, select source of funds (bank card), and select where you want the money saved (PiggyBank or PiggyVest account).NOTE: PiggyBank account is the account where all your main monies are saved while PiggyFlex account is a sub-account where all monetary interest/rewards/points earned on PiggyVest are saved. To further differentiate between the two, you can withdraw from your PiggyFlex account for free at any time while withdrawal from your PiggyBank account can only be made on fixed withdrawal dates (more in this later). Withdrawal from your PiggyBank account outside the fixed withdrawal dates attracts a penalty. As a new user though, you won’t be able to save to your PiggyFlex account immediately as the Flex Limit is set to NGN 0. You must save to the PiggyBank account first to expand your Flex limit.
2. AutoSave
AutoSave is one of the core features of the PiggyVest app. Just like the name implies, the feature automatically sets aside (and saves) money for users. The AutoSave feature is also flexible as you can select the period you want PiggyVest to deduct a specified amount from your bank (preferably on or a day after your salary gets paid). It could also be daily, weekly, monthly or ‘anytime/manual’.You will also be prompted to specify the amount you want PiggyVest to deduct from your bank account at the set period as well as the exact time you want the set amount deducted. Another interesting thing about the AutoSave feature is the “AutoSave Limit”. This is the maximum amount beyond which your PiggyVest AutoSave savings cannot exceed. Once you have saved up this amount in your PiggyBank account, PiggyVest will no longer deduct funds from your bank account at the set dates — unless, of course, you modify/extend the AutoSave limit.
On the app, you can navigate to “My Account” >> AutoSave Settings to modify the amount and frequency of your AutoSave plan. You can also turn off/deactivate the savings entirely by toggling off the On/Off button.
3. SafeLock
SafeLock is another core saving feature of the PiggyVest app with more stringent saving measures. SafeLock allows you put a fixed amount of money aside for a fixed period of time. Unlike AutoSave that allows you withdraw your savings on multiple dates, SafeLock keeps the fixed amount till the set time is up. This is why it is perfect for saving money dedicated for non-discretionary expenses or expenses you must make e.g. rent, school fees, etc. According to PiggyVest, SafeLock is one step further in curbing the temptation to spend money that you need to save. While it might be a hard thing to do, the fact that SafeLock rewards as high as 13% interest per annum on whatever amount you save should be enough motivation.To use SafeLock on PiggyVest, tap the “Create a SafeLock” button on the Lock funds away card in the PiggyVest dashboard. Enter the amount you want to lock away, how long you want to stow the money away, as well as the payback date. You are also required to give your SafeLock a name (could be anything, perhaps the goal you’re saving towards e.g. Laptop SafeLock). You can then proceed to preview your SafeLock details and select the “Tap to SafeLock” button. The longer you lock your cash in your SafeLock, the higher the interest. The best part is that the interest on the funds you SafeLock-ed is paid upfront in your PiggyFlex account.
You should, however, remember that once you SafeLock a specific amount of money, under no circumstance will the funds be made available to you before the payback date.
How to use Target Savings on Piggyvest
If you have a group trip you want to attend by the end of the year, a conference to attend, a new laptop or new car to purchase, then you can create a target saving goal separate from your personal saving. Just like the regular AutoSave, you are entitled to a 10% (per annum) interest on your savings which would be paid into your PiggyFlex account daily.To create a target saving goal or join other users saving towards a similar goal, tap the “Save towards a goal” card on the app dashboard, tap the “+” icon at the bottom of the display to get started with a personal or group target saving. Unlike your core savings program, you can break or opt out of a target savings plan at anytime without any penalty. The funds will, however, be sent to your core PiggyBank savings account which you will then be able to withdraw only on set withdrawal days. If you have met at least 70% of your target savings, you can withdraw to your Flex account anytime for free.
Withdrawals
Whether you’re withdrawing money you’ve saved for an unplanned emergency or to sort out a planned goal/expense, PiggyVest offers swift and flexible withdrawal options. Before withdrawing funds, however, there’s one important thing to do first: add your bank account details. To do this, My Account >> My Bank Information >> Go to Bank Settings >> Enter account number & Bank name1. Withdrawing from PiggyVest Account
Your PiggyVest account holds funds you save using the “Quick Save” option as well as interests, monetary rewards from core and special savings. Funds in PiggyFlex can be withdrawn at any time to your bank account for FREE. You can also send funds in your PiggyFlex account to your PiggyBank account as well as other users for FREE. To withdraw cash from PiggyFlex, simply tap the “PiggyFlex” card on the app dashboard or navigate to My Account >> Make Withdrawal >> Withdraw from PiggyFlex. You are entitled to only one (1) withdrawal in 24 hours and funds are sent to your bank account within 3 hours. You should also note that nothing happens to your Piggyvest Savings if you don't withdraw on the withdrawal day. You keep getting interests on your money whether or not you withdraw it.
2. Withdrawing from PiggyBank Account
Your PiggyBank account is regarded as the main savings account. Here, money can be saved to your PiggyBank account anytime (via Quick Save) or periodically (via Auto Save) but you can only withdraw money from the account for FREE four times per year. These are known as “Withdrawal Days” and it is, by default, the last day of every quarter (i.e. every 3 months or 90 Days).This is basically all you need to know to get started with saving on the PiggyVest platform’s app. There’s still a lot more but if you have any questions, simply signup on Piggyvest and visit the Frequently Asked Questions (FAQs) section.
PiggyVest which was formerly known as Piggybank.ng, is an online platform that helps people save money and achieve their financial objectives. With PiggyVest, you have the opportunity to invest your money in various enterprises or businesses and get up to 25% returns on your investments within a year. Saving money attracts up to 13% interests however but these interests are more relaxed and favourable. PiggyVest is highly regarded as the safest and biggest online savings and investment platform in Nigeria.
With PiggyVest, there are various, multifarious ways to save – whether as an individual or as a company or group. You can even joint accounts with family, friends or colleagues. PiggyVest is popular in Nigeria; especially with the youths who take up more than 50% of the population.
How does PiggyVest work?
PiggyVest simply works by helping you meet specific financial goals. It could be to start a business, pay rent or anything. For example, if you want to save a million naira, you only need to create an account on PiggyVest and start saving. They pay you interest up to 13% on your savings. You can save daily, weekly, monthly or anytime you want. There is an option for you to automatically save. For example, you can decide to save between ₦50 to ₦20, 000 or more every day. Set up the amount you want to save and it will be automatically deducted from your account every day.
You can also decide to save weekly. For example you decide to save ₦1000 to ₦50, 000 a week or more. You can also set it up and the money will be deducted every week from your bank account. The same thing applies if you want to save monthly.
However, if you prefer to save whenever you want without money being automatically deducted from your bank account to save, there is also an option. It is a called QuickSave. You choose when you want to save. Just go to the app or website, login and save. However you want to save.
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You can also choose to save with a friend, family, spouse or group of people. You need to agree with the people how much you want to save and for how long. Then start saving! Once it get to the date you set, the money will be send to each account of everyone saving.
When you save, there are few withdrawal dates in a year. The reason is to keep you disciplined. But you can withdraw anytime outside the withdrawal date with penalty.
There is an option to lock funds. If you have money that you don’t want to touch. Maybe it’s for house rent, school fees, business or anything. You can lock it and get 13% interest paid to you upfront.
A very good thing about this platform is that you can invest money. There are many startups that needs capital. You can look them up and pick the one good enough for you and invest. It is very easy. Just few clicks and you are done. For as little as ₦3000, you can start investing!
Imagine all the ₦100, ₦500, ₦1000 or even more that you waste every week or month. If you save them or invest them on this platform, you will be surprised how much you make in a year plus interest!
Read: How to Manage your Money better in 2025
Is it safe to use PiggyVest?
It is safe to save money or invest money on this platform. They are duly registered as PiggyTech Global Limited – RC 1405222. In early 2018, they acquired a Microfinance bank and its license. They are also a registered cooperative with the name, Piggytech Cooperative Multipurpose Society Limited, with registration number 16555.
All the money saved on this platform is warehoused and managed by AIICO Capital, the leading asset management company in Nigeria, registered and licensed by the Securities and Exchange Commission (SEC).
Also, your card details are save. The details are not stored on their website. They partner with Paystack, A leading Nigerian payment processor which is PCIDSS-compliant to handle your details. The site is extra secured with an SSL encrypted connection.
How to save money on PiggVest
Follow these steps to save money on PiggyVest:
- Click here to create an account with your phone number, password and name.
- Choose your saving option/features. There are different saving options. There is PiggyBank, Safelock and Target Saving. Pick which one suits you. You can read more about each of them below.
- Set your details and start saving
If you pick Piggy bank, you have to set how much you want to save automatically and if it will be daily, weekly or monthly. You can also decide to save whenever you want manually. For Safelock, set how much you want to lock and when you want to withdraw. For target savings, set how much is your target. Invite friends if you want to join you and pick a withdrawal date
How to invest money with PiggyVest
Follow these steps to invest money with PiggyVest
1. Create an account
First step is to create an account. The process is very easy. Click here to create an account
2. Navigate to investify
Once you are inside your piggyVesy account Dashboard. You will see many options on the screen. Click on investify or “invest for the future.” That is it.
3. Review investment opportunities and invest.
You will find various investment opportunities. Click on anyone you want and invest. The minimum amount you can invest in most opportunities is N3000. Some are more.
PiggyVest App/Website Features
There are different features as it is explained below:
1. PiggyBank
PiggyBank as the name implies is the PiggyBank on PiggyVest. That is where you save money. If you you are planing to save money personally to meet your goals then this feature is for you. Remember all those money you wasted on those meaningless things? No matter how small it is you can save it here. You also get to earn big interest on it. In 1 year or two years, those little money will become big!.
If you save ₦100 every day, that is ₦36500 a year. If you save ₦5000 every month that is ₦60,000 a year plus interest that may take it to over ₦67,000.
And if you decide to save ₦20,000 every month from your salary that is ₦240, 000 a year plus interest that can take it to over ₦270,000
You can save for as long as you want. The longer you save, the bigger the money and the bigger the interest. You can also automatically save money every day or every week or every month. The money will be automatically deducted from your bank account. If you do not like that, there is no problem as there is a feature called Quicksave. Quicksave allows you to save money manually whenever you want. If you choose the quick save options, you will need to login to the app or website to save manually when you want.
You can pause your savings at anytime and continue later. If you do not have money for a month to save, there is no problem, you can pause the savings or use quicksave.
You can also choose to increase the amount you save. Everything is in your hands.
You can withdraw from your PiggyBank instantly. But to encourage discipline, there are very few withdrawal date a year.
Every 31st of March
All 30th of June
Every 30th of September
Every 31st of December
You can also adjust this date yourself
Create an account here
Investify (Invest for the future)
Investify is one of the features on PiggyVest that help people invest in low risk investment opportunities. These investment opportunities are vetted and approved by the company. Every investment has it own protection. If you are worried about it being insured, read up before investing as every investment opportunities has different insurance coverage.
With as little as ₦3000, you can invest and get up to 25% return on investments. Interest are paid monthly, quarterly or annually depending on investment.
You can trade your shares at anytime or liquidate your investment at anytime
While these investment are from third parties. PiggyVest however do due diligence before approval. And they provide additional capital protection. You should read each investment carefully before investing.
There are various investment opportunities in agriculture, real estate, fixed income assets and more.
Safelock (Lock funds away)
Safelock is a feature on Piggy Vest that allow users lock up money until a particular time. You earn up to 13% of the money you lock. It works like fixed deposit.
It is very easy. For example, you have ₦300k to pay for your house rent in a year or for your children school fees or maybe you just stumble on some cash, you can use safelock to lock the money until you need it. That is to avoid spending it. Just set the amount you want to lock and how long you want to lock it.
The interest will be paid to you upfront. Once the time you set is up, the money will be automatically released for you to use. You can have many safelock accounts.
The minimum amount of money you can lock is ₦1000.
Target savings
Target savings is a feature that enable users save money themselves or with friend and family or group of people to meet a particular target. For example you plan to start a business in 12 months. You can create a target savings account to save solely towards that. You can also invite others to join you in saving. Once you meet 70% of the target, you can withdraw on your set date free. Target savings attract 10% interest.
If you are planning a trip with friends. You can create a target savings for it. Invite your friends and each of you can start saving.
the minimum duration you can set is 30 days.
2. PiggyFlex
PiggyFlex is the main account where all your interest, all your savings and target and paid into. From here you can withdraw or transfer money to other people.
For example, the money you save on your PiggyBank is sent here when you withdraw. Same as the one on your investify, safelock and target savings.
You can withdraw anytime from here to your bank account instantly.
PiggyVest interest rates
The platform pays you interest when you save money with them.
10% per annum on Core Savings(Piggybank Savings)
Over 13% per annum on SafeLock
10% per annum on both Target and Group Savings
PiggyVest points
The point is a system that reward customers for saving with the platform. You earn points for savings and you can convert points to cash.
How many points you earn depends on how much you save. Here is a breakdown:
N2000 – N4999 = 1 point
N5000 – N9999 = 2 points
N10000 – N49999 = 10 points
N50000 – N99999 = 25 points
N100000 and above = 55 points
The value of each point is N10. That is 1 Piggy Point = N10.
PiggyVest customer care
Here are the customer care details:
Customer care phone number
The PiggyVest customer care phone number is 0700 933 933 933
Customer care email
The Piggy vest customer care email is [email protected]
PiggyVest mobile app
The PiggyVest app is available for both Android and iOS devices. You can download it from the Google play store and app store. You can also click here and download whichever one suits you.
PiggyVest Head office address
The head office address of Piggy vest is located at 16 Boyle Street, Onikan, Lagos Island, Lagos, Nigeria
You can login to your account anytime via the app or website. All you need is your email or phone number with your password.
Conclusion
Obviously, there is a sufficient reason Nigerians are flocking to pitch their tents with PiggyVest and there is no denying it that PiggyVest have the potential to create even more avenues to better satisfy their customers.