Get 15% on all your savings Five Institutions that pay you real interest on your savings

• Overview of the platform
• How it pays users to save
• Interest rates
• Requirements to get started
• Step-by-step process to start saving
• Website
• Where to click on the platform/app

1. OPAY (OWealth Savings)

Overview:

OPAY is a leading mobile wallet and financial services app in Nigeria, licensed by the Central Bank of Nigeria (CBN). It offers services like transfers, bills payment, ride-hailing, and a digital wallet for saving and earning interest.

How It Pays Users:

Through its OWealth savings feature, OPAY allows users to earn daily interest on money they save in their wallet.

Interest Rate:

• Up to 15% per annum
• Daily interest is calculated and added automatically

Requirements to Get Started:

• A smartphone
• A valid phone number
• BVN (Bank Verification Number)
• An OPAY account

How to Start Saving with OPAY:

1. CLICK HERE to get started with OPAY app or website
2. Sign up or log in
3. Complete KYC (Know Your Customer) verification with BVN and ID
4. Fund your OPAY wallet via bank transfer, card, or USSD
5. Click on “Finance” at the bottom menu
6. Select “OWealth”
7. Click “Invest” and choose the amount to save

Funds can be withdrawn anytime without losing interest.

2. PiggyVest

Overview:

PiggyVest is Nigeria’s first and biggest digital savings platform. It helps users build financial discipline through automated savings and also offers investment options.

How It Pays Users:

PiggyVest gives interest on multiple savings plans:

• Piggybank (Autosave)
• SafeLock (funds locked for fixed period)
• Target Savings
• Flex Naira (flexible withdrawal)

Interest Rate:

• Up to 13% per annum
• Daily interest is added depending on the savings plan

Requirements to Get Started:

• Valid email and phone number
• BVN
• Nigerian bank account

How to Start Saving on PiggyVest:

1. Visit: https://www.piggyvest.com
2. Click “Create Account”
3. Enter your email, full name, password, and phone number
4. Verify your BVN
5. Link your bank card
6. Log in and click “Savings” in the dashboard
7. Choose a plan like Piggybank, SafeLock, or Target Savings
8. Set an amount and start saving

PiggyVest also allows you to automate savings from your bank.

3. Cowrywise

Overview:

Cowrywise is a digital savings and investment platform in Nigeria that offers high-yield interest accounts, investment plans, and Halal savings options for Muslims.

How It Pays Users:

Users earn competitive interest on savings through automated plans. It also supports fixed savings and mutual fund investment.

Interest Rate:

• Between 8% and 15% per annum

Requirements to Get Started:

• Valid email and phone number
• BVN and ID
• Nigerian bank account

Steps to Start Saving with Cowrywise:

1. Go to https://www.cowrywise.com or download the app
2. Click “Start Saving” or “Create Account”
3. Input your full name, phone number, and email
4. Complete KYC by uploading your ID and BVN
5. Link your bank
6. Click on “Save” on the dashboard
7. Choose savings plan: Regular, Life Goals, Halal, or Fixed Savings
8. Set your frequency (daily/weekly/monthly) and amount

You can withdraw savings at maturity or earlier with lower interest.

4. Kuda Bank

Overview:

Kuda is a digital-only bank that provides free banking services in Nigeria. It’s licensed by the Central Bank of Nigeria and offers features like budgeting, saving, and spending analytics.

How It Pays Users:

Kuda helps you save money automatically and pays interest through its Spend+Save and Fixed Savings features.

Interest Rate:

• Up to 15% per annum on fixed savings
• Daily interest for flexible saving

Requirements:

• Valid Nigerian phone number
• BVN
• Nigerian ID
• Smartphone

Steps to Start Saving with Kuda:

1. Download Kuda app from Play Store or App Store
   • Website: https://www.kuda.com
2. Register with your name, phone number, and email
3. Verify BVN and upload ID
4. Fund your account via bank transfer or card
5. Go to “Save” tab at the bottom
6. Choose “Spend+Save” for automated savings
7. Or choose “Fixed Savings” for locked savings with higher interest
8. Set the amount and duration

Kuda credits interest monthly or at the end of your fixed plan.

5. VBank (V by VFD)

Overview:

VBank is a fully digital bank operated by VFD Microfinance Bank, offering savings, budget tracking, and investment features, all from a mobile app.

How It Pays Users:

VBank provides interest on regular savings and has “Target Savings” and “Fixed Deposit” plans that pay higher interest for committed funds.

Interest Rate:

• Up to 14% per annum

Requirements:

• Phone number
• BVN and government-issued ID
• Nigerian bank account

Steps to Start Saving with VBank:

1. Download the VBank app or visit https://www.vbank.ng
2. Click “Open Account”
3. Enter your details (name, BVN, phone number)
4. Verify your identity with ID
5. Fund your account
6. On the dashboard, tap “Save” or “Grow”
7. Choose either Target Savings or Fixed Deposit
8. Set amount, duration, and interest plan

You get rewarded based on how long and how much you save.

Summary Table (Optional)

Would you like this as a PDF or infographic too?