Mutual Fund: All you need to know about Piggyvest

Do you know saving is an investment? There are several savings and investment platforms in Nigeria, but we’ll only be looking at piggyvest, an investment platform that can help you save, achieve your goals and get rewarded at the same time in this article.

Savings is an important part of man’s life, though it is not that easy especially in a country like ours as most people spend more than they earn monthly because things are quite expensive. Piggyvest is an investment app that helps you save either daily, weekly or monthly depending on your choice of saving or your target. You will agree with me that if a person should save money in his or her bank account,it would be very easy to assess if some situations should arise, but with piggyvest,you can lock funds away to achieve specific goals.

With piggyvest, you get 10% annually and funds can be used for different purposes like paying for tuition, house rent and many more. When you lock funds away,you get to choose the withdrawal date i.e. the day you can assess the money for use. Once you withdraw the money before the due date, you will be charged a 5% penalty fee while you will be given 10%-15% interest if you wait till the due date before assessing the fund.

Piggyvest has a low-risk investment in the transportation, real estate and agricultural sector, you can invest in any of this with just #5000.

Mutual Fund: All you need to know

Piggyvest Savings Features

Once you download and sign up on piggyvest, you will have access to piggybank which has various forms of savings explained below:

Safe lock

This feature helps you lock fund away for a specific period of time. You won’t be able to redeem such fund till the due date just like a fixed deposit and you get 12.5% of the fund as interest once it matures.

Periodical Savings

With Piggyvest periodical savings, you can choose a particular period to save whether weekly or monthly.

Automated Savings

Piggyvest offers an automated savings feature that once you choose the period to save, the money will be deducted and locked away automatically. For example, if you choose to save monthly, the exact amount will be deducted from your piggybank and locked away at the end of every month.

Manual Savings

This is just like your normal piggybank where you can save as many time as possible daily, weekly or monthly.

Target Savings

Do you have goals or target to meet like buying a car, a phone, building a house, or you plan on going for vacation,then this feature is for you as it helps you achieve your targeted savings goal. You can also join people who are saving to meet certain target by selecting either the public mode, automated savings mode, multiple targets or group savings.

Flex Naira

This is where all the interest earned on piggyvest are saved for emergencies. This feature gives you 8% interest annually subject to 4 withdrawals monthly. You can withdraw funds here anytime without being charged.

Conclusion On Piggyvest

Though, as crucial as it is, saving is not really an easy thing to do out of will especially when you earn less, unless you are accustomed to the art of financial discipline. Once you start saving and enjoying the benefits, you’ll be motivated to save more.

You can set up your piggyvest account by downloading the piggy vest app on playstore, sign up by creating an account and you’re good to go.

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