Overview
PiggyVest is Nigeria’s largest online savings and investment platform, operating for over 9 years as a digital financial service provider. Founded in 2016 as Piggybank.ng and later rebranded to PiggyVest, the platform focuses on helping Nigerians build disciplined saving habits through automated savings features and competitive interest rates.
The platform serves individuals seeking structured savings solutions, young professionals building emergency funds, students saving for education, and anyone looking to earn higher returns than traditional banks offer. PiggyVest targets millennials and Gen-Z users who prefer digital-first financial services. The app provides various savings products including SafeLock (fixed deposits), Flex Savings (flexible withdrawals), Target Savings (goal-based), and investment opportunities in agriculture, real estate, and transportation sectors with returns up to 35% annually.
Key Features
Automated Savings
Automatic daily, weekly, or monthly savings deductions
SafeLock
Fixed deposit savings with 7% - 20% annual interest rates
FlexSavings
Flexible savings with instant withdrawal capabilities
Target Savings
Goal-oriented savings with milestone tracking
Investify
Investment opportunities in agriculture, real estate, and transport
Pros
- High interest rates (7% - 20% annually)
- Automated savings encourage discipline
- Multiple savings plans for different goals
- SEC-regulated investment partnerships
- User-friendly mobile interface
Cons
- Poor customer service response time
- Withdrawal delays and technical issues
- Limited investment options availability
- Account access problems reported
- No physical branch support
Security Analysis
Security Features:
- SEC Partnership: Collaborates with AIICO Capital, licensed fund manager regulated by Securities & Exchange Commission
- Corporate Registration: Registered as Piggytech Global Limited with Corporate Affairs Commission
- Bank-Level Encryption: 256-bit SSL encryption for all data transmission and storage
- Two-Factor Authentication: SMS OTP verification for account access and transactions
- Fund Segregation: Customer funds held in separate accounts with partner commercial banks
Pricing & Fees
How To Get Started
Download and Install
Download PiggyVest app from Google Play Store or App Store, then tap "Get Started" to create account.
Registration Process
Download PiggyVest app from Google Play Store or App Store, then tap "Get Started" to create account.
Phone Verification
Verify phone number with OTP sent via SMS and confirm email address through verification link.
Identity Verification
Upload government-issued ID (NIN, voter's card, or driver's license) and provide BVN for KYC compliance.
Bank Account Linking
Connect your bank account using account number and bank name for funding and withdrawal purposes.
Choose Savings Plan
Select from SafeLock, Flex Savings, Target Savings, or set up automated savings based on goals.
Fund and Start Saving
Make initial deposit, set up automatic savings schedule, and begin earning interest on deposits immediately
Final Verdict
PiggyVest excels as a savings platform with attractive interest rates (7% – 20%) and automated features that encourage disciplined saving habits. The variety of savings plans caters to different financial goals effectively. However, customer service issues and withdrawal delays create significant user frustration. While excellent for building savings discipline, users should be prepared for potential technical challenges and slower customer support responses when issues arise.
