Top 12 Online Savings and Investment Platforms In Nigeria

Savings and Investment Platforms
Reading Time: 5 minutes

Online savings and investment platforms are some of the positive disruptions in financial services. These platforms are helping to drive financial inclusion. 

Thus people who hitherto were unable to access financial services, are now able to do so.

In this post, I will show you some websites and mobile apps you can start using today to save and invest money wisely 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 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 primarily investment apps.  A good number of them offer both savings and investing.

There are also loan apps or online lending platforms.   These online lending platforms give users unsecured loans; or loans without collateral.

Now, our Top 12 Savings and Investment Platforms in Nigeria

#1. Payvest   

Payvest is an investment feature on the  Paylater app, the online lending platfor. This feature allows users to save and earn interest as high as 15 percent per annum.  And it payable quarterly. 

It works like your regular fixed deposit account.  Minimum investment is N50,000 an you can  lock-in for periods ranging from 3, 6, 9 or 12 months.

Important Note:  Paylater and Payvest have been re-branded as a Carbon.  Carbon is an app that lets you control your finances in just a few clicks – save, invest and borrow.

You can also recharge airtime and pay bills from this single app. 


#2. Cowrywise      

This platform gives you the opportunity to automate your savings.  You decide how you save and when you save:  daily, weekly, or monthly.  

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 can 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.  PiggyVest 

Formerly, PiggyBank.  It is the first and about the most popular of these savings and investment 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,

Or chose 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 PiggyVest free account 


#4  SmartSaver   –

An online savings and investment platform which aim is to make saving money easier, smarter, convenient and secured.  

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. Kudabank –  

Kudabank is Nigeria’s first digital-only bank.  It’s actually microfinance bank with a complimenting digital platform that allows customers to start and complete banking transactions online. 

On the kudabank app, you can save, invest and borrow, all in an automated manner.  Since Kudank is a microfinance bank, the Nigeria Deposit Insurance Corporation (NDIC) insures its deposits. 

Visit kudabank here

#8  Riby   

This app assists 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 Fundall –

Fundall is one stop personal financial management app that enables you automate the planning and management of all your finances from one app.  You can save, invest, borrow, pay bills, and even buy insurance with this app.

It’s simply a personal financial management tool that provides you with all you need to build wealth and grow your business.

Get more details on their website here


#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  

A product of Parthian Partners Ltd, i-invest is a mobile app that helps retail investors buy securities like treasury bills, eurobond and equities without the help of a broker. 

All a user has to do is download the app from Google Play Store or iOS, create and account, fund it and begin to invest in instruments of his or her choice.

The minimum investment is N100,000.  

Start using i-invest now


#12   Payday  

The Payday investor is an online investment platform powered by ARM Investment Managers, a Nigerian wealth management company.  This mobile app helps you invest in array of mutual funds for optimal returns.  

You can either create an account on their web portal or download the mobile app on your mobile phone.

BONUS: –  This technology company is a subsidiary of Sankore Investment Ltd, a registered stockbroking firm and dealer member of the Nigeria Stock Exchange.  

With, investing across asset class become very easy.  You can invest in stocks, bonds, treasury bills, mutual funds and real estates just by clicking the relevant button on app.

This app helps you to trade online, the domestic financial market.  Access the platform from wherever you are, from any part of world and pay in any currency.  

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


Buchi creates content and leads the Team at Stalwart Investment Partners; a business development and investment consultancy firm. He provides strategic advisory to help SME's, small business owners and HNI's grow profitable business and make informed investing decisions.

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12 Responses

  1. Loansbid says:

    Nice information you shared here glad I found this

  2. SAMUEL ISHAU says:



    Saving money is as important as having money itself. Saving money can help you become financially secure and provide for you a safe place in case of emergency.

    Saving your money on Saverclub is so much fun and way easier. Below are five reasons you should activate your Saversclub account;

    1. Build a savings habit: It is trite that if you do not respect money, it will slip through your fingers. How to respect money is by properly managing it and saving money is proper money management. You can set your savings plan on Saversclub periodically, it could be daily, weekly or monthly. Like this, a portion of your money is being saved whether you feel like saving or not.

    2. It is so stress-free: Contrary to the traditional style of savings, where you have to plan for it, probably have to go to your commercial bank to deposit your cash, on Saversclub, after you set your savings plan by yourself, you can check back at your maturity date and your funds will be available in your wallet for withdrawal. Everything is automatic! You save whether you feel like it or not.

    3. Interest rates are enticing: The aim is to grow money while you are saving it. You can earn up to 16% p.a. on your savings on Saversclub depending on the type of account. How sweet is that? Nothing beats that at the moment, and your commercial banks are not even close.

    4. You can fuel your hustle: If you don’t have a side hustle, just know that the rest of us have left you. Having multiple streams of income helps you achieve your financial goals faster. You can save up your capital on Saversclub, like that, you even get more. Remember that your money grows here.

    5. Build an emergency fund: No one truly knows tomorrow and what it holds. Imagine being in trouble and broke at the same time. We shouldn’t have to be in that position. The emergency funds account on Saversclub allows you to save any amount at intervals and the amount saved is available for withdrawal any time the need arises. We cannot predict the future, it is why you should save money on Saversclub for some sort of safety.

    Years ago would have been the best time to start saving, however, today is not too late. Tomorrow may be though, this is why you should take your financial journey seriously on

  3. What a nice written and informative contents from Buchi. What I loves about you is that you is that your article is easy to understand.
    In this investment platforms written by you. I fully trust piggyvest because I have been using it to save and invest my money since February of this year.
    I reviewed everything about piggyvest in this blog you can as well check it out

  4. Love says:

    Well-written, Buchi.

    I’ll love to add the savings and investment platform I use and trust in 2020.

    Kashbase is a digital personal finance app that helps users save and invest their money. With Kashbase, you’ll earn up to 15% interest on their savings and enjoy interesting features.

    On Kashbase, you can start saving and investing for as low as #100 daily, weekly, or monthly while earning daily returns. You can also perform transactions and make online purchases on Kashbase. Starting my journey to financial freedom with Kashbase has been amazing.

    You can find out more about the company and how secured they are through their website: or @Kashbase on social media.

    I hope this is a valuable addition.

  5. I think piggybank now piggyvest is the best… But is there an investment app with over 20% interest?

    • Buchi says:

      Check out agric tech investment platforms. Those platforms that focus on different aspects of agriculture – crop farming, livestock. fisheries and other agricultural value chains. There are so many of them now and some of the give as much as 35% ROI to their investors. Thrive Agric for example pay as much as 25%.

    • tobe says:

      Yes, Sumotrust recently laucnhed a Hedge Fund investment that offers up to 24% per annum. You should visit and check it out.

    • odunayo says:

      Yes, African Trade Invest offers up to 30% ROI annually. check them out.

    • Ati says:

      Branch App has up to 20% interest on investment. I don’t know of any over 20% Very reliable.

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