PiggyVest has solidified its position as a leading digital platform for savings and investments in Nigeria. It continues to empower millions, making financial discipline and wealth growth more accessible than ever. This article will delve into what makes PiggyVest a go-to choice for financial management, its core features, new developments, and why it remains a trusted platform for Nigerians looking to secure their financial future.
What is PiggyVest?
At its core, PiggyVest is a comprehensive online savings and investment platform designed to help individuals manage their money effectively. Launched in 2016, it has grown to serve almost 5 million registered users, providing a blend of simplicity, discipline, and flexibility. Its primary mission is to help users save responsibly and invest on the go, ultimately working towards financial freedom.
How to Create an Account and Get Started
Getting started with PiggyVest is a straightforward process, designed for ease of use. Here’s a step-by-step guide to creating your account and setting up your savings journey:
- Download the App or Visit the Website: PiggyVest is available as a mobile app on both Android and iOS devices, or you can access it directly via their website.
- Sign Up: Click on the “Sign Up” or “Create a Free Account” button. You’ll be prompted to provide basic details such as your first name, last name, email address or phone number, and to create a secure password.
- Email Verification: A verification link will be sent to your registered email address. Click on this link to verify your email and activate your account.
- BVN/NIN Verification: To fully activate your account and access features like your dedicated virtual account number for funding, you will need to provide your Bank Verification Number (BVN) or National Identification Number (NIN). This is a crucial step for identity verification and fraud prevention, complying with Nigerian financial regulations. Your unique virtual account number will typically be provided after this verification is complete.
- Set Up Withdrawal Bank Details: Once your account is active and verified, you’ll need to link a bank account for withdrawals. This is the account where your saved or invested funds will be sent when you decide to withdraw them.
- Add Debit Card Details (for AutoSave): To enable automated savings (like Piggybank), you’ll need to add your debit card details. PiggyVest works with PCIDSS-compliant payment processors (like Paystack and Flutterwave) to ensure your card details are secure. This step allows for seamless, automated deductions, helping you stick to your savings goals without manual effort.
- Make Your First Deposit: After setting up your bank and card details, you can make your first deposit to start your savings journey. You can use the “Quick Save” option for immediate deposits or set up automated transfers.
- Choose a Savings Plan: Explore the various savings plans (Piggybank, SafeLock, Target Savings, Flex Naira, Flex Dollar) and choose the one that best fits your financial goals. You can modify your AutoSave settings (amount, frequency) at any time.
Key Savings Plans in 2025
PiggyVest offers a variety of tailored savings plans to suit different financial goals and habits:
Piggybank: This is the core automated savings plan, allowing users to save daily, weekly, or monthly. It’s designed to build financial discipline by automating deductions directly from linked bank accounts. As of early 2025, Piggybank offers an attractive interest rate of 18% per annum.
While Piggybank encourages discipline, funds can be withdrawn outside the designated free withdrawal dates (March 31st, June 30th, September 30th, and December 31st). However, withdrawing outside these dates incurs a 3.5% breaking fee on the amount withdrawn.
SafeLock: Ideal for long-term goals, SafeLock allows users to lock away funds for a specified period, preventing early access and resisting the temptation to spend. This feature often provides higher interest rates, currently up to 20% per annum, with interest paid upfront into your Flex Naira wallet. The longer the duration, the higher the potential earnings.
Target Savings: Perfect for specific financial goals like rent, travel, or a new gadget. Users can set a target amount and a deadline, saving consistently towards it individually or even as part of a group challenge. Interest rates for Target Savings are around 12% per annum, paid at the end of the target period.
Flex Naira: This is a flexible wallet where all interest earned from other PiggyVest plans is deposited. It allows up to four free withdrawals per month, with a 12% per annum interest rate. Exceeding this limit will result in the forfeiture of interest for that month. It also serves as a versatile wallet for quick saves and funding other PiggyVest plans.
Flex Dollar: For those looking to save in foreign currency, Flex Dollar allows users to save in USD, offering a hedge against Naira depreciation. It currently yields around 7% per annum. Funds can be withdrawn to a Naira bank account or a domiciliary account.
Investify: Grow Your Wealth
Beyond savings, PiggyVest’s Investify feature provides access to pre-vetted, low-to-medium risk investment opportunities. With as little as ₦5,000, users can explore diverse sectors such as commercial papers, real estate, agriculture, and fixed-income assets. Returns on investments can go up to 35% per annum, depending on the opportunity and risk appetite. PiggyVest handles the vetting and management, offering a simplified investment experience.
Security and Trust in 2025
Security remains a paramount concern for PiggyVest. The platform is regulated by the Securities and Exchange Commission (SEC) in Nigeria and is NDPR (Nigeria Data Protection Regulation) compliant, ensuring the highest levels of data privacy and security. They utilize 256-bit SSL security encryption for online transactions, akin to bank-level security.
In 2025, PiggyVest introduced Wellness Checks, a new safeguard designed to protect users’ legacies. If an account shows no activity for 18 months, PiggyVest will initiate contact with the user and, if no response, with the designated Next of Kin (NOK) to ensure funds can be accessed legally in unforeseen circumstances. This further solidifies their commitment to user security and fund accessibility.
Read Also: PiggyVest vs Cowrywise vs FairMoney: Which Savings App Is Best for Nigerians in 2025?
Exciting Updates for 2025
Looking ahead, PiggyVest is continuously innovating. A major development for 2025 is the introduction of a new budgeting feature. This tool aims to help users manage their daily expenses more effectively, ensuring salaries last longer and promoting better overall financial planning. This new feature directly addresses user feedback, demonstrating PiggyVest’s responsiveness to its community’s evolving financial needs.
Customer Support & Accessibility
PiggyVest prides itself on its responsive customer support, available through in-app self-help services, email (contact@piggyvest.com), phone lines (0700 933 933 933, Mon-Fri, 9am-5pm), and their active social media handles (e.g., Twitter: @PiggybankNG, Instagram: @PiggybankNG). The user-friendly interface of both their mobile app (available on Android and iOS) and website ensures ease of navigation and seamless financial management.
Conclusion
In 2025, PiggyVest continues to stand out as a robust and reliable platform for saving and investing in Nigeria. With its diverse range of savings plans, lucrative investment opportunities, enhanced security measures like Wellness Checks, and upcoming budgeting tools, it provides a comprehensive ecosystem for financial growth. Be you a disciplined saver, an aspiring investor, or someone seeking better financial management, PiggyVest offers the tools and trust to help you achieve your monetary goals. Piggyvest is a partner in your financial journey.
