What is PiggyVest, and How Does it Work?

Are you looking for a platform that can help you stop unnecessary and excessive spending? Maybe you’ve been searching for a secure place to grow funds whilst saving them? Then you need PiggyVest.

If there are alternatives to what the bank does, then Piggybank (currently PiggyVest) is one of those alternatives.

PiggyVest Nigeria

With over 3 million users, PiggyVest is one of Nigeria’s leading online saving and investment companies. You can Register now using our link and get #1,000 free.

What is PiggyVest

PiggyVest is a top Fintech company that helps you save and invest money without struggle. There are five unique products. It is the first online savings and investment platform in the whole of West Africa.

The company began as “Piggybank. ng” on 7th January 2016. During that time, it was a savings-only platform. And for the first three years of its emergence, the only service they offered to their users was just savings.

However, in 2019, the company rebranded changed from Piggybank to PiggyVest. In addition to savings, PiggyVest needed to start offering direct investment opportunities to its users.

Since over five years of its existence, PiggyVest has maintained a track record of excellence in service delivery to all of its users in various ways. PiggyVest has over a million users on its platform. If you are thinking of joining PiggyVest today, there are so many benefits in stock for you, like managing your finances and helping you achieve your financial goal in simple ways.

A more interesting thing about PiggyVest is that there are some users whose savings and investments run in billions of naira every month. Fascinating, isn’t it?

If you are sceptical about joining PiggyVest, you don’t have to be. The company is on a mission to give all of its new and existing users the power to manage their finances effectively.


  • PiggyVest does not handle taxation
  • High interest for every saving. ( Register here and get #1,000 for free)
  • Your funds and your financial details are secured
  • There are no extra charges when you transfer funds to your PiggyVest account
  • You can start saving with as little as N50
  • PiggyVest offers you flexibility. With Quicksave, you can top up your savings anytime


  • You cannot access your funds on safelock even if you want to close your account completely.
  • You can only withdraw funds four times in a month from your Flex Naira Wallet

Things you can do on PiggyVest


There are four ways to build your savings on PiggyVest.

  • Automated Savings
  • Fixed Savings
  • Goal-Oriented Savings
  • Flexible Saving

You earn 5% – 15% when you save with any of the plans listed above.


Piggyvest offers multiple investment opportunities for you to invest and benefit from. Some of which are:

  • Sesame seed Farm
  • Cashew Nut Investment
  • Cattle Herder Stock Program Investment
  • Sweet Potato Farm Investment
  • Credit Financing Recyclan Global
  • Cassava Farm Investment

No matter the investment opportunity, you can start with as little as N5,000. And there are no hidden fees/charges attached to any investment

PiggyVest Savings and Investment Features


Investify is one of the most exciting features of PiggyVest. With Investify, users have the opportunity to earn more on their savings by investing in low-medium risk, pre-vetted, primary and secondary investment opportunities.

PiggyVest works very hard to ensure that every investment is secured by providing unique coverage and protection on every investment listing. You can fund your investment using either your flex wallet or your debit card.

Depending on the investment opportunity you have chosen, you could receive your interest daily, monthly or quarterly. Better still, your interest could be paid into your PiggyFlex account at the end of the investment period.


SafeLock is a saving option introduced by PiggyVest to allow users to transfer and lock funds from their debit card or PiggyVest. You can lock funds for a minimum of 10 days, and once your funds are locked, you won’t be able to access them until they mature.

SafeLock is perfect for people who cannot overcome the temptation of touching the money they have put in savings. If you can successfully lock your fund for a whole year, you can earn up to 15.5% of your money at the end of the year. Upon maturity, your funds will be paid into your Flex Naira wallet.

Target savings

PiggyVest is also keen on helping people meet their targets. Whether you are saving for tuition fees, vacation, rent, buying a device, or even starting a new business, with Target savings, you can save up consistently for that goal.

You can create a group savings challenge with multiple users if you decide not to save alone to make it more interesting.

You can break your target savings anytime you feel like it. But if you fail the funds on your target savings before the maturity date, you will lose all the interest you accrued and be charged a 1% processing fee.

Flex Naira

As you begin to save on PiggyVest, you will interact with the Flex naira feature often. The Flex Naira is a savings wallet on the PiggyVest platform where all your interests gathered or paid from other PiggyVest Wallet are paid.

The benefit of the Flex Naira account is that you can compound interest of 8% per year on funds on your flex account. You can also fund your Flex Dollar, SafeLock, Investify, Target or Piggybank using funds in your Flex Naira.

You also have some free withdrawal days where you are allowed to withdraw directly from your PiggyBank savings to your Flex Account.

But the downside to this is that you can only withdraw four times in a month from your flex account. If it exceeds that number, you are at risk of losing all the interest you have accrued for that month.

Flex Dollar

With the Flex Dollar feature on PiggyVest, you can save, invest and transfer funds in Dollars. Funding your Flex Dollar account is also very easy. You can do that using either your local bank card or directly from your Flex Naira Wallet.

To transfer funds to your Flex Dollar account, select the amount in Dollars you want to buy, choose a funding source and complete the transaction.

The good thing about using this feature is that you can fund your Flex Dollar account with as little as $1. And you also receive interest of about 7% per annum.

The only disadvantage of the Fl Dollar is that you cannot save with an international card for now.

How does PiggyVest Referral Program work?

The PiggyVest referral program is another way users make extra cash while using PiggyVest. To benefit from the referral program, you must be a registered user. When you register on PiggyVest, a referral link will automatically be generated for you, which you can use to refer. When you refer a person to join PiggyVest and the person signs up with your link, you and your referral are entitled to N1, 000 each. Every money you earn from referring is paid into your safelock.

The bonus you get for referring another user is paid into your SafeLock. It then matures to your flex account after ten days the moment PiggyVest validates your referred user. Register on Piggyvest now and start earning referral bonuses

How to choose the right saving plan

Saving has always been one of the most challenging things for so many people. The good news is that no matter your financial goal, there is a saving and investment plan on PiggyVest specially made for your needs.

 If you want to save for a more extended period, you may want to consider going for the SafeLock plan. With the SafeLock plan, you can safely lock the money you do not want to touch for as long as you want. And the beautiful thing about SafeLock is that the longer your funds stays untouched, the higher the interest rate.

There is another saving plan called the Piggybank. This plan is for those users who would like to withdraw their savings only once a quarter. With the Piggybank feature, you can automate your savings such that the exact amount is taken from your bank account at the stipulated time of the week or month. No need to bother about saving manually.

The next saving option you can choose from is the Target savings. If you’re saving towards a particular goal, such as travel, tuition fees, or rent, the Target Savings option can help you meet such a target. You can also invite friends and family to partake in achieving all your financial goals.

How to start saving on PiggyVest

After signing up on PiggyVest, you can start saving immediately.

Here’s how you can start saving funds in a few steps:

  • Visit the PiggyVest website or download the app on your play store
  • Create an account
  • Set up your preferred withdrawal details (PiggyVest will send your funds to this account)
  • Input your debit card details to get your account activated so that you can make make your first deposited
  • Choose any saving plan that is most suitable for you

It doesn’t how much you want to save or invest with PiggyVest; no dime would be missing irrespective of how long your funds remain with Piggyvest.

Every money saved on the platform is stored and managed by the leading asset management company in Nigeria (known as AIICO)

If there is a reason anyone would want to leave their money in the hands of an online saving platform, it must be because the company has earned your trust in the area of security.

PiggyVest is a platform that is highly secured. All sensitive or financial information, such as your card details, are not only encrypted. They are also stored to PCI-DSS level complaint standards. PiggyVest works with Paystack to ensure that there is no security compromise.

Additionally, every transmission PiggyVest does on its site and with its banking partner is through an encrypted 256-bit HTTPS SSL connection.

How to withdraw your savings on PiggyVest

You should note that you don’t pay any extra fee whenever you want to make withdrawals. As long as you withdraw only on the set Withdrawal dates, you can withdraw for Free.

The Free Withdrawal days are:

31st March

30th June

30th September

31st December.

Any withdrawal you make outside these dates will attract a 2.5% fee of the withdrawal amount.

To withdraw your savings, you have to fill in your bank details in your withdrawal settings. After that, click on the “Withdraw” button on your dashboard. Enter the exact amount you want to collect, and in less than 4 hours, your funds will be transferred to your preferred local bank.

Although the minimum amount you can withdraw is N3 000, however, there is no maximum. You are free to withdraw all your funds whenever you fill like but only once in 24 hours.

Top 2 Alternatives to PiggyVest

However, if you are not satisfied with all the beautiful features PiggyVest offers, there are other top performing savings platforms you can decide to save your money with.

Here are five top alternatives to PiggyVest:


CowryWise is one of the top alternatives to PiggyVest. Just like PiggyVest, CowryWise has a Mobile app, tools and guide. They help you save or invest your money, and they also have a team of experts that offer financial advice to users to help them achieve their goals. The company has impressive rates for everyone who decides to save or invest with them.

On the platform, you can find various saving plans to choose from, such as the Education plan, Vacation plan, Wedding plan, Car Plan, Children Plan and so on. CowryWise is also a secure platform


With KoloPay, it is very easy to save towards your goals. You also enjoy up to 10% yearly interest on your savings when you choose a saving plan. You can save any amount at any time and any day you want. KoloPay also lets you automate your savings. And just like PiggyVest, you can save up multiple goals such as Rent, Fees, or Car.


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