Savings and Investment Platforms

Top 12 Online Savings and Investment Platforms In Nigeria

Online savings and investment platforms, powered by fintech, are some of the positive disruptions in financial services. These platforms are making savings and investing easier for people who hitherto were unable to access financial services through the regular deposit money banks. 

With these portals, websites and mobile apps, ordinary folks can now save effectively, invest profitably and even get loans without collateral

In this post, I will show you some websites and mobile apps you can start using today to save and invest money wisely in Nigeria in an automated manner.  These savings and investment platforms have helped a lot of Nigerians improve their personal finances. 

You too can be part of it.


All you need to access these savings and investment platforms are your mobile smart phones (android or ios) and similar devices with a data subscription,  or your laptop or desk top with internet access.  To open an account, you will must have a bank account, a debit card, Bank Verification Number (BVN) and a valid means of identification.

Some of these platforms are strictly savings apps, others are strictly investment apps while a good number of them offer both services including online lending.

Now, our Top 12 Savings and Investment Platforms in Nigeria

#1  Payvest –  An investment feature on the Paylater app, the online lending platform, Payvest allows users to save and earn interest as high as 15 percent per annum payable quarterly.  It works like your regular fixed deposit in that you are not allowed to add once lock-in for a specified tenor. With a minimum investment of N50,000, users are allowed to lock-in their investment for periods ranging from 3, 6, 9 or 12 months.

#2.    Cowrywise      – This platform affords you the opportunity to automate your savings.  You decide how you save and when you save which can be daily, weekly, or monthly.  By linking your debit card to your Cowrywise account, your savings programme is automated.

Cowrywise pays interest of between 10 – 15 percent per annum on your savings and this is accrued and credited to your account on a daily basis.  You are allowed to withdraw from your savings at any time and also qualify for Cowrywise loans at a cheap rate.

Download the Cowrywise app or visit their website

#3  PiggyBank – PiggyBank is about the most popular of these savings and investmet platforms in Nigeria. Their claim is to give Nigerians the power to manage their finances by making it more transparent.

You choose to save small amounts or as big as you can periodically – daily, weekly, or monthly towards specific causes, programmes and projects and earn interest of between 10 – 17 percent,

You can also choose to lock away your savings for a particular period of time in the Safe Lock which is equivalent to a fixed deposit account in a regular commercial bank.

You can save between N50 – N25,000 daily, N1,000 – N100,000 weekly and N3,000 – N500,000 monthly and with their quicksave option you can add more funds to your savings at any time to the tune of N500,000 per time.

Create a PiggyBank free account 

#4  SmartSaver   – An online savings and investment platform which aim is to make saving money easier, smarter, convenient and secured.  They use Paystack for all their payment and their funds are warehoused in FCMB.

Set your savings target and approach on daily, weekly, or monthly bases.  Withdrawal is quarterly and your money earns interests far much higher than what you get on a regular bank savings account.

SmartSaver investment savings pays as high as 30 percent per annum while their SuperSave product pays up to 8 percent per annum, quarterly at 2 percent per quarter.

SmartSaver users enjoy the benefit of getting a loan from them without collateral.

Check out SmartSaver

#5  Alat – This platform is powered by Wema Bank and can be said to be more than just a savings and investment platform. It is prided to be Nigeria’s first digital bank designed to democratize banking services and make it accessible to all.  Using your mobile phone, you can open an account and start an automated savings programme that pays you up to 10 percent annum, 3 times what the bank pays its regular saving account customers.

Check out ALAT

#6  Reach  – This is a personal finance app that helps you develop a financial discipline by tracking your income, monitoring your expenses and helps you make intelligent money choices.  Forbes describes Reach as a Nigerian Fintech that helps you save for life’s big moments.  Using an algorithm, the app tracks your SMS alerts and use it to produce detail personal financial management information to give you a breakdown of where your money goes each week, insights on how you spend and a budgeting tool to help you achieve your financial goals.

This fintech company currently supports 17 banks in Nigeria and Ghana.  Download the Reach app on google play store.

#7  KudiMoney –   This platform helps automate your savings.  You link your debit account to your kudi money account and set your saving plan such as daily, weekly or monthly.  Kudi money automatically deducts from your bank account on the due date and credit your savings account with them on an interest rate  that is up to 10 percent per annum. 

Kudi Money Spend Account works like a current account in that it allows you to withdraw at any time and there is no minimum balance.  But unlike your regular current account, you earn an interest of 3 percent per annum, accrued daily on your balances.

Kudimoney saving and spending account users are qualified to enjoy low-interest loans

Visit kudimoney

#8  Riby –  An online  savings and investment platform designed to assist individuals and small businesses to save, invest, and borrow money at competitive interest rates.  The platform has modules for different market segments: Riby Cooperative addresses the need of Cooperatives, Associations and Trade Group helping them manage member contributions, savings, and borrowing; Riby Peer lending, which allows peer-to-peer lending and the Riby Saver App which allows users automate their saving.

#9  Kernvest – This is a micro-investment platform targeted at low-inco me earners to allow them to invest with small amounts of money and grow their wealth over time.  The platform automates your saving, investing and money management.  You set up how you want to push funds into your investment/savings account either daily, weekly, or monthly.

Get more details on their website

#10  Kolopay – A mobile app that allows you save towards planned target over a period of time.  With kolopay, you can share your savings goals with friends and family so that the also can be part of your plan by contributing towards your goal.  You earn interest on your savings at 6 percent annum.

#11  I-Invest –  If you have always wanted to play in the Treasury Bill market and has been constrained to do so, this mobile app will help you begin to do so quickly. I-invest helps users to grow their savings and earn a higher interest rate by buying Treasury Bills irrespective of where they are located just by clicking the buttons on their mobile phones.  The minimum investment is N100,000.  Interest is accrued daily and on maturity principal amount invested plus accrued interest is credited to your designated bank account.

Start using i-invest now

#12   Payday –  The Payday investor is an online investment platform powered by ARM, a Nigerian wealth management company.  The platform is designed to help users save automatically, your savings is thereafter invested in any of their mutual funds for higher returns.

For people who are looking for convenient ways to start saving, investing and accumulating wealth, it is now easier with these fintech initiatives.  Review the available online savings and investment platforms service providers and choose the one that most address your needs.

Let me add this: The savings and investment platforms discussed here are  based on my review and interview with some users.  I have listed them in no particular order of ranking. 

I strongly advise that you do your own research and due diligence before committing money in any scheme including online savings and investment platforms.

For specific investment vehicles that offer reasonable yield with safety, take a look at this post Your 9 Best Investment Options In Nigeria

To your success

One thought on “Top 12 Online Savings and Investment Platforms In Nigeria

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