Piggyvest has become a popular name in the world of digital savings and investment platforms in Nigeria. With its catchy name and promise of helping users save and invest their money, it’s no surprise that many people are curious about its legitimacy and credibility.
In this blog post, we will explore the question on many people’s minds: is Piggyvest legit? We will also delve into the approval of Piggyvest by the Central Bank of Nigeria (CBN) and how this platform works. So, if you’re thinking of joining the Piggyvest bandwagon, keep reading to find out all you need to know before leaping.
What Are The Features Of Piggyvest?
Piggyvest offers a range of features that make it an attractive choice for those looking to save and invest their money. Here are some of the key features of Piggyvest:
- Automated Savings: Piggyvest allows users to set up automatic savings plans, where a certain amount of money is deducted from their bank account regularly. This feature helps users save without even thinking about it.
- Target Savings: Piggyvest also offers target savings, where users can set specific savings goals and track their progress. This feature is great for saving for big-ticket items like a new car or a vacation.
- Investment Opportunities: Piggyvest provides users with the option to invest their savings in different investment plans, such as fixed-income investments and mutual funds. This allows users to potentially earn higher returns on their money.
- Flexibility: Piggyvest offers flexibility in terms of withdrawals and savings options. Users can withdraw their savings at any time, and they also have the option to lock their funds for a set period to earn higher interest rates.
- Piggy Points: Piggyvest rewards users with Piggy Points for engaging in certain activities on the platform, such as referring friends or completing savings challenges. These Piggy Points can be used to unlock special features or cash out.
These are just a few of the features that make Piggyvest a popular choice for those looking to save and invest their money.
Is Piggyvest Legit?
So, is Piggyvest legit? The answer is a resounding yes. Piggyvest is a legitimate platform that has gained the credibility and trust of millions of users in Nigeria. It has been in operation since 2016 and has garnered positive reviews and testimonials from satisfied customers. With its partnership with financial institutions and its regulatory approval by the Central Bank of Nigeria (CBN), Piggyvest operates under the guidelines and regulations set by the regulatory body. So, rest assured, Piggyvest is a trustworthy and secure platform to save and invest your money.
Is Piggyvest Approved by CBN?
Yes, Piggyvest is approved by the Central Bank of Nigeria (CBN). This regulatory approval is an important factor to consider when determining the legitimacy and credibility of any financial platform. Piggyvest operates under the guidelines and regulations set by the CBN, ensuring that it follows the necessary protocols to protect its users’ funds and personal information.
This approval also demonstrates that Piggyvest meets the necessary standards to operate as a legitimate savings and investment platform in Nigeria. So, you can trust that Piggyvest has undergone the necessary regulatory processes and is a secure platform to save and invest your money.
How Does Piggyvest Work?
Piggyvest works by providing users with a simple and convenient way to save and invest their money. Here are some key steps in how Piggyvest works:
- Sign up: Users can easily create an account on the Piggyvest platform by providing their personal details and bank information.
- Set savings goals: Users can set their savings goals, whether it’s for an emergency fund, a dream vacation, or a down payment on a house.
- Choose savings options: Piggyvest offers different savings options, such as automated savings plans or target savings. Users can choose the option that best suits their needs.
- Invest: Once users have saved up enough money, they have the option to invest their funds in various investment plans offered by Piggyvest. This allows users to potentially earn higher returns on their savings.
- Track progress: Users can easily track their savings progress and investment performance on the Piggyvest platform. This helps users stay motivated and make informed financial decisions.
- Cash out or reinvest: When users reach their savings goals or want to access their funds, they have the option to cash out their savings. Alternatively, they can choose to reinvest their money and continue growing their wealth.
Overall, Piggyvest provides a user-friendly and secure platform for individuals to save and invest their money, helping them achieve their financial goals.
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How does PiggyVest work?
PiggyVest is a Nigerian online savings and investment platform that helps users automate their savings and grow their money. It offers a variety of savings plans, including:
- Target Savings: Save towards a specific goal, such as a car, a house, or a vacation.
- Flex Naira: Save for a rainy day or future expenses.
- Goals Master: Create multiple savings goals and track your progress towards each one.
PiggyVest also offers investment options, such as:
- PiggyVest Growth: Invest in a diversified portfolio of stocks and bonds.
- PiggyVest Invest: Invest in a specific asset class, such as equities, fixed income, or real estate.
How much is the interest on PiggyVest?
The interest rate on PiggyVest savings plans varies depending on the plan you choose. The current interest rates are as follows:
- Target Savings: Up to 10% per annum
- Flex Naira: Up to 8% per annum
- Goals Master: Up to 10% per annum
The interest rate on PiggyVest investment options also varies depending on the asset class you choose. The current interest rates are as follows:
- PiggyVest Growth: Up to 15% per annum
- PiggyVest Invest: Up to 18% per annum
How trusted is PiggyVest?
PiggyVest is a licensed and regulated financial institution in Nigeria. It is also a member of the Nigerian Fintech Association (NiFA). PiggyVest has a strong track record of safety and security, and it has never experienced a data breach or loss of customer funds.
When can I withdraw my money from PiggyVest?
You can withdraw your money from PiggyVest at any time. However, there are some restrictions on withdrawals, depending on the plan you choose. For example, Target Savings withdrawals are only allowed on quarterly free withdrawal days.
How much is 10 points on PiggyVest?
PiggyVest uses a points system to reward users for saving and investing. One point is equal to ₦1. You can earn points by saving money, investing money, and referring friends to PiggyVest. Points can be redeemed for cash or used to purchase discounted savings or investment products.
After exploring the features of Piggyvest, its legitimacy and approval by the Central Bank of Nigeria (CBN), as well as how the platform works, it is clear that Piggyvest is a reliable and secure platform for saving and investing money. With its user-friendly interface and range of features such as automated savings, target savings, investment opportunities, and flexibility in withdrawals, Piggyvest provides individuals with the tools they need to achieve their financial goals. Its regulatory approval by the CBN further reinforces its credibility and commitment to protecting users’ funds and personal information. So, if you’re looking for a trustworthy platform to grow your savings and investments, Piggyvest is worth considering.