The Ultimate Piggyvest Savings App Review (Guide to Make Millions in 2022)

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Piggyvest is a fast-growing online savings and investment platform accessible to Nigerians. The platform was started by three brainy individuals: Somto Ifezue, Odunayo Eweniyi, and Joshua Chibueze in 2016.

To get started with Piggyvest – Click here.

I like the idea of an online savings platform, especially for Nigerians, and I think it’s a better way to save than using conventional banking services.

piggyvest saving app

Here’s why I said so, and I’m sure you’ll agree with me. You can hardly get any significant interest from the money you save in your bank account, right?

But unfortunately, by the time banks deduct all their usual monthly charges — card maintenance fee, SMS alert fee, and so on, you’d have less than what you started within your account.

One other reason I like the idea of such a platform is how it helps us to be disciplined. Many times, we plan to save, but what happens when babe calls and says, “Boo, I need Sharwama.”?

You don’t have cash at hand, but you’d rush to withdraw 3,000 naira because as a correct boo, you have to buy a drink for her, too, and also give her t-fare to her place.

Piggyvest is a platform that has considered all these challenges and has created a viable solution. I know you also think it’s a good idea, but you have any questions on your mind about Piggyvest.

So, don’t worry! I am writing this full review to answer every question you may have about Piggyvest online savings and investment platform.

Shall we?

Is Piggyvest a Safe and Secure Financial Service?

secured payments

Piggyvest is a very safe financial servicing company. They are in complete compliance with the PCI DSS Level 1 standards. The PCI DSS Level 1 compliance is a directive by credit card companies.

Can their Server Run Down?

The company uses an encrypted 256-bit HTTPS SSL connection to establish transmission between its partner bank, and it also uses it to run its website. So, you can be sure there’d be nothing like system run-down.

Are they Traceable?

Unlike all these sharp guys that appear online and disappear into thin air after they have perpetrated their evil, without leaving any trace of their whereabouts, Piggyvest is well known.

Its physical office is located at 16, Boyle Street, Onikan, Lagos Island, Lagos, Nigeria. You can also reach them via phone or email: 0700 933 933 933 and respectively.

Are my Card details Secure?

The company uses a PCI DSS-compliant payment processor, Paystack, to keep all the information about your card. And that’s why it’s guaranteed your card details can never get into the wrong hands.

Is My Money Secure?

As of 2016, when it started as Piggybank Nigeria, it was in partnership with two microfinance banks, and it also used their licenses.

But as of 2018, it had acquired Gold Microfinance bank and its license, and that’s enough back-up for every penny you save with them.

get piggy vest saving app

Piggyvest Features

When I was thinking about how to effectively save my little hard-earned money, I stumbled on Piggyvest, and I was completely taken by its features; it was the answer to my undisciplined saving habit.

Here are the basic features of Piggyvest; I’m sure you’d also be amazed at how much it can change your savings habit.

Piggyvest Savings Features

features of piggyvest

Piggyvest has three major savings features that are designed to help you save more effectively. I have used the three of them, and I think it’s a reasonable service from Piggyvest.

You can also choose to save little amounts of money periodically; that is, daily, weekly, or monthly towards a specific target, or to lock away funds for a specified period.

I have discovered that it takes discipline to save money, but from using this service, I have also found that it is possible to keep as much as it is necessary to take hold of your financial freedom.

On Piggyvest, there are flexible savings options that allow you to choose the plan that best suits you. They include the following:

Piggywallet Option

piggyvest dashboard

If you’re very serious with saving and don’t want to touch your money except quarterly, then the Piggywallet option is a good fit. It’s adapted to your kind of lifestyle, and you’d be surprised at how much you’re able to save.

What’s more is that you can set up an autosave option, in which case, money is automatically deducted from your account and saved in your Piggybank wallet.

So, Piggybank’s autosave option is to help you curb the indiscipline of wanting to spend money even when it is unnecessary, and it also saves you the stress of saving manually.

Piggyvest Target Savings Option

target savings

As the name suggests, it helps you to save towards a particular goal. For example, if you are planning to do a Master’s degree and don’t have enough money at the moment, you can try this option.

Like I was surprised when I used the option to pay for my long-standing house rent bill, you will be astonished at how easy it is for you to reach your financial goals using the Piggyvest target savings option.

Piggyvest Safelock Option

piggyvest safelock

Piggyvest Safelock is another savings option that is most suitable for you if you have long-term financial goals. Moreover, it features a high-interest rate (about 6 -13%). So, you can make money off funds you don’t need now.

Safelock should not be confused with an investment. No! It isn’t an investment, though Piggyvest also has a diversity of investment opportunities on the Investify feature, and we’d look into that shortly.

Piggyvest Quick Save Option

quick save feature

The Quick Save option is a flexible feature that allows you to save money if you have missed a saving schedule.

For example, if you were to save 500 naira daily but missed two days, you can use the quick save option to save 1000 naira for free.

Piggyvest Investment Feature — Investify


Investify is a big deal on PiggyVest. It is one of the ways to make a lot of money on Piggyvest, but I’ll only talk about how it works here. Later on, I’d explain how you can make money from Investify.

This feature has several investment opportunities. But even more, the investment vehicles it offers are pre-vetted, low-medium risk, primary, and secondary investment opportunities.

Is My Investment Safe?

piggyvest investify

I can guarantee that to a considerable extent because I’ve invested on the platform, and I’ve got my ROI’s when and how Piggyvest said it would be.

But to assure you more, every investment listed on Piggyvest comes with its unique protection and coverage, which you can analyze so you can rest assured that your investments are secure.

Also, the insurance coverage and protection for each investment vehicle on Piggyvest varies. That is, the terms, conditions, and security of each investment opportunity vary on the platform.

If you’re thinking “what if Piggyvest is honest but has dubious investment partners?”, I can guarantee that it doesn’t happen on this platform. Piggyvest carries out due diligence on all its investment partners.

Will a Disaster Affect My Investment?

Indeed, disasters can’t be entirely avoided, and I also always want to know how safe my funds are before entering into any investment vehicle, so I researched Piggyvest, and I’ll show you what I found.

Piggyvest Investify’s investment opportunities are properly vetted for insurance against loss. But there’s also the PiggyVest Extra Protection, which you can use to ensure the maximum capital safety of your investments.

Does Investify Tax My ROI’s?

The platform neither taxes funds nor handles any form of taxation policy. However, as a good citizen, you should be responsible for the growth and sustenance of your community by paying taxes to the government.

Can I Liquidate My Investment?

I think this is one of the most interesting Investify features that got my attention. I know how it feels when you want to take your money from an investment you think is no longer viable, but your money is stuck.

Well, Piggyvest Investify has got you covered on that, but not only so, but it also allows you to liquidate your investments whenever you want it.

There are conditions for doing that, though, such as trading the acquired investment units with other investors — both existing and new investors.

Guess what? When trading your investment units, you are free to set any price you want, though it should be reasonable. However, Piggyvest takes a commission between 1-3%, depending on the type of investment.

Piggy Points

piggy points

Besides Piggy points being a way of rewarding your passion for saving, it is also fun and exciting. It’s a win-win service on Piggyvest to help you achieve financial freedom.

The more you save, the more Piggy points you acquire, which can be used to earn more money. But I won’t talk about it here. I’d explain it later even though it is quite simple.

Piggyvest Flex Account


A Flex Account is a sub-account where every interest you earn on PiggyVest is paid. The platform grants you 100 percent access to the account to withdraw any amount you want, anytime you need it, and without charges.

Also, on withdrawal days you have chosen on the platform, you can withdraw your money to your flex account and use it for whatever you want.

If you are becoming addicted to savings, and you think you want to save your interest, it’s a good thing. From your Flex account, you can click on “Use Funds” and select the option which allows you to save again.

Flex Naira

By default, transactions on the Piggyvest platform are done in Nigerian Naira. That is, your accrued interests, ROI’s, and withdrawals are in Naira. Also, your deposits, transfers, and so on, are in Naira.

But if you prefer your transactions in US Dollars, which is the only available alternative currency, for now, you can use the Flex Dollar account option, and I’d talk about it next.

Piggyvest Flex Dollar Account

piggyflex dollar saving

The Flex Dollar feature enables you to save, invest, and transfer funds in US Dollars. To fund your flex dollar account, you can transfer funds from the default flex naira account or your debit card.

The platform allows you to start your Piggyvest flex dollar account with a minimum of $1, and you can keep saving as much as possible.

Like the regular flex account on the platform, you’ll also get interested at attractive rates up to 7% per annum; but more appropriately, the interest rates depend on the market behavior at a given time.

Can I also Withdraw in Naira?

Though you can perform transactions strictly in dollars on a Flex dollar account, you can still withdraw in Naira, but it will be at the stated parallel market buy rate.

If, on the other hand, you want to withdraw in dollars, the funds will be sent to your Dollar-denominated Domiciliary bank account, and this attracts a charge.

But if you’re withdrawing from your Flex dollar account to your Flex naira account, it comes with no charge at all. It’s only payments into your domiciliary account that attracts small fees.

Furthermore, the flex dollar account funds are invested in dollar fixed-term investments with Anchoria Asset Management, a division of VFD group, licensed by The Securities and Exchange Commission (SEC), Nigeria.

Piggyvest Interest Rates

interests paid upfront

What kind of savings service doesn’t offer interest rates? The only issue is that some savings platforms, like the conventional banking institutions, charge you more than your accrued interests per month.

The interest rates on Piggyvest are up to 10% per annum on Core, or Piggybank, savings; 13% per annum on Safelock; and 10% per annum on Target Savings.

How is the Interest Paid?

I like the way Piggyvest accrues interest on savings; it’s a lot sensible and beneficial, too, and it also differs for the different kinds of savings options.

For the Piggybank Savings, the interests are added daily on your balance and are available for you to withdraw the first day of every month.

The SafeLock interests are even more attractive. How do I mean, you ask? They are paid upfront into your Flex account, which means you can access them instantly and free of charge.

Interests on the Target Savings options are similar to the Core savings option, but the difference is that Target savings allow you to withdraw the interest immediately, even though they are accrued daily.

If you don’t want the interest, you can disable it. Log in to your profile, go to ‘Account,’ click ‘My Account Settings,’ click ‘Interest Settings,’ click ‘Disable Interest,’ then finally click ‘Update Settings.’

Piggyvest Withdrawals

withdraw from piggybank

I know this is a point where most people will adjust their seats, take or pause, or grab a snack. Just do it quickly, and let’s get back to the matter at hand.

It is straightforward to withdraw money on Piggyvest. Maybe it’s even more comfortable than in conventional banks. And, within three hours of requesting payment, you’d get your money.

Though I’m not so comfortable with the fact that you can only withdraw once a day, I think it’s to help people to develop a disciplined savings habit.

There are set withdrawal dates on Piggyvest, and if you withdraw on any of those days, you won’t be charged a dime. Moreover, you don’t have to use the platform’s withdrawal dates as you can set yours too.

After making a withdrawal request, the funds will be sent to your Flex Account immediately. Then you’ll be able to withdraw it to your local bank account, or you can also re-save it if you change your mind.

Therefore, you must have already registered your bank details on the platform, so that you won’t have any difficulty withdrawing to your local bank account.

Setting Withdrawal Dates

Piggyvest already has four default withdrawal dates, which are 31st March, 30th June, 30th September, and 31st December.

But you can set your convenient withdrawal date. However, there is a condition, which is that every successive date must be separated by three months.

You can make free withdrawals on any of the four days, but if you need to withdraw funds on other days, there will be a 5% penalty fee.

What are the Withdrawal Limits?

Piggyvest only allows you to withdraw a minimum of 3,000 naira, but you can withdraw as much as possible without limit, as long as it is more than 3,000 naira.

We have covered much in this guide, and I know you may be wondering, “What next?” But calm down a bit. I am as eager to explain all to you. The next thing I’d explain is the Piggyvest referral program.

Piggyvest Referral Program

piggyvest referrals

Piggyvest referral is a big deal. I mean, you can make much money from referrals, but this is not where I will talk about that. That will be later.

How Does it Work?

Piggyvest referral, also called Piggybank Stories, is a smooth way to make money and also teach people how to save.

Log in to your dashboard, add a story of how Piggybank has helped you save so far. When your story is approved, you’ll receive a unique link, which you can share however you like it.

If you don’t want to write a story, you can get your link directly by clicking “My Account,” and then “Earn N1000 per invite.” The system will automatically generate a unique link for you.

For details on how to make money on referrals, keep your fingers crossed because I will talk about it very soon — I mean as soon as the next section.

How to Make Money on Piggyvest

Nora made N641,000 from the Piggyvest points reward system for saving every day for 2 years! – Read her story here.

I know you have questions about how much you can make on Piggyvest. So, I have separated this section to help you answer all those questions.

Let me start by telling you that you can make Much MONEY on Piggyvest. Yes! I mean much money from the savings feature, Investify, Piggy Points, and referrals. And I will show you how to in the sections below.

Making Money from Savings

It’s possible to make a lot of money from the different saving features on Piggyvest, but I’ll focus on how to make money using SafeLock.

Safelock allows you to earn up to 13 percent per annum, and the money is always paid upfront. What’s more, is that you can access the funds immediately.

If you lock your funds for 10-30 days, you will enjoy an interest rate, which is calculated at 6% per annum.

For 31-60 days in Safelock, you’d get an interest rate of 8% per annum. For 61-90 days, you’d get an interest rate of 10% per annum.

But for 90 days – 2 years in Safelock, the interest rate peaks at 13% per annum and is prorated accordingly.

There is no limit to the amount you can save in Safelock, though the minimum amount you can keep in SafeLock is 1,000 naira.

The truth is that the higher the amount of money you can save, and the longer the time you save, the more money you can make.

Making Money from Investify

invest with piggy vest

I have explained how Investify works, so I won’t bore you with all those details anymore. Let’s get right ahead into how you can make money from Investify.

The platform has investment opportunities, especially in the Real Estate, Transportation, and Agricultural sectors. Some of the investment opportunities are also fixed-income investments.

The ROI’s are attractive and range from 12% to 24%, and they are usually paid back between six months and one year, depending on what you choose.

To choose an investment opportunity, log in to your account. Navigate “Investments” and choose the one you want. Then you can make payments using your debit card, Piggyflex account, or Piggybank savings.

Making Money from Piggy Points

Piggy points are ways to make money slowly but surely. I like the incentive system of Piggyvest, and it encourages me to save more. I’m sure it will encourage you too.

Before you can start making money from Piggy points, each transaction must not be less than 2000 naira. I’ll show you a break down of the number of Piggy points you earn per sale below.

For every 2,000 – 4,999 naira, you get 1 point;

For every 5,000 – 9,999 naira, you get 2 points;

For every 10,000 – 49,999 naira, you get 10 points

For every 50,000 – 99,999 naira, you get 25 points

For 100,000 naira and above, you get 55 points.

If, for example, you deposit 100,000 naira 10 times a day, you would have made yourself 55piggy points x 10 deposits x 10naira per piggy point = 5,500 naira.


Make Money from Referrals

Referrals, for me, is the smoothest way to make money on Piggyvest. After you have got your referral link, you can share it with your friends, family, and loved ones.

For anyone who joins the platform through your unique link and registers with at least 100 naira, you’ll both get 1,000 naira each. Isn’t that amazing!

You may say this figure is big, but it is possible: what if you get 100 people to register on Piggyvest through you, you’d have made 100,000 naira.

And guess what, this money will be accessible to you after it has been in Safelock for ten days. If you take referrals very seriously, you can make millions of naira within a year.

Piggyvest Mobile Application


Maybe it’s just me, but I enjoy using applications more than browsing over the internet.

Browsing over the internet can become tedious after some time, but an application is always easier to navigate, mainly because you have all you need at your fingertips as well as everywhere you go.

So, Piggyvest Mobile application is a way to carry your savings and investment with you everywhere you go. You’d also be able to monitor your transactions, check new ventures, and so on.

To download the Piggyvest application, log on to their website, or download it directly from Google Play Store. Put your details and enjoy Piggyvest on the go!


Piggyvest savings and investment platform is set to revolutionize Nigerians’ saving culture. If you have been looking for a way to save and gain from saving, Piggyvest is the best I have found so far.

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