How to Save and Invest Using PiggyVest or Cowrywise (Complete Guide for Nigerians)

In Nigeria, where the cost of living keeps climbing and income often struggles to keep up, saving money can feel like an uphill battle. Many people find it difficult to stay disciplined or even know where to start.

Thankfully, digital platforms like PiggyVest and Cowrywise are changing the game—making it easier than ever to save consistently, invest wisely, and build lasting financial stability.

These apps allow you to automate savings, invest with confidence, and track your progress right from your smartphone. In this comprehensive guide, you’ll learn how to save and invest using PiggyVest or Cowrywise, understand their unique features, and discover practical tips to help you grow your money and achieve your financial goals faster.

What Are PiggyVest and Cowrywise?

PiggyVest and Cowrywise are two of Nigeria’s leading fintech platforms designed to help individuals save and invest money with ease and discipline. Both apps provide digital solutions that promote financial inclusion by making savings and investments accessible to anyone with a smartphone and internet connection.

PiggyVest, formerly known as Piggybank.ng, was launched in 2016 as one of Nigeria’s first automated savings apps. It allows users to set saving targets, lock funds for specific durations, and invest in low-risk opportunities through its Investify feature.

PiggyVest operates in partnership with Microfinance Banks licensed by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Corporation (NDIC), ensuring users’ funds are secure.

Cowrywise, founded in 2017, focuses on helping Nigerians build wealth through automated savings and diversified digital investments. It offers mutual funds, fixed-income plans, and goal-based savings—all regulated under a trustee structure approved by the Securities and Exchange Commission (SEC). Cowrywise stands out for its user-friendly interface, transparency, and professional fund management approach.

Together, these platforms have revolutionized digital savings and investment in Nigeria, empowering millions of users to take control of their finances and build sustainable wealth.

Why You Should Save and Invest Digitally

In today’s fast-paced world, relying on traditional saving methods like keeping cash at home or in an inactive bank account is no longer effective. Digital savings and investment apps in Nigeria—such as PiggyVest and Cowrywise—offer smarter, safer, and more rewarding ways to grow your money. Here’s why saving and investing digitally is a game-changer:

• Automation and Discipline: Digital platforms help you save money online automatically by deducting fixed amounts from your account. This removes the temptation to spend impulsively.

• Security and Regulation: Apps like PiggyVest and Cowrywise are regulated by financial authorities (CBN and SEC), ensuring your funds are protected and managed securely.

• Easy Tracking: You can monitor your savings and investment progress in real time, giving you full control and transparency over your finances.

• Compound Interest: By keeping your funds invested, you earn interest or returns that compound over time—helping your money grow faster.

• Accessibility and Convenience: With just your smartphone, you can start saving or investing anytime, anywhere—no paperwork, no queues.

• Goal-Based Saving: These apps allow you to set clear financial goals—like rent, education, or business capital—and stay consistent in achieving them.

• Path to Financial Freedom: Consistent digital saving and investing build strong financial habits, helping you achieve true financial freedom over time.

By taking advantage of these benefits, you can make your money work for you and move closer to long-term stability and independence.

How to Save Using PiggyVest

If you’re looking for a simple and effective way to build your savings habit, PiggyVest is one of the best savings apps in Nigeria. It allows you to save automatically, earn interest, and stay disciplined with your finances. Follow these easy steps to learn how to save with PiggyVest safely:

1. Create an Account

Visit PiggyVest.com or download the mobile app from your app store. Sign up using your email address and phone number, then verify your account. The process is fast, secure, and user-friendly.

2. Choose a Saving Plan

PiggyVest offers multiple saving options designed for different goals:

• Piggybank: For daily, weekly, or monthly automated savings.

• SafeLock: Locks your funds for a set period to prevent early withdrawals and earn higher interest.

• Target Savings: Perfect for saving towards a specific goal such as rent, travel, or business.

• Flex Naira: A flexible account that allows you to save and withdraw anytime while still earning interest.

3. Automate Your Deposits

Set up automatic transfers from your bank account to your PiggyVest wallet. You can choose daily, weekly, or monthly schedules to stay consistent. Automation ensures you save regularly without having to remember or rely on willpower.

4. Monitor Your Progress

Track your savings growth from the dashboard. PiggyVest provides clear visuals and detailed insights into your saving patterns and interest earnings. This transparency helps you stay motivated and adjust your goals when necessary.

5. Withdraw or Reinvest Wisely

Once you reach your goal, you can choose to withdraw to your bank account or reinvest your funds into PiggyVest’s Investify, which offers low-risk investment opportunities.

Saving with PiggyVest is safe, convenient, and designed to help you achieve financial discipline without stress. Whether you’re saving for emergencies, future plans, or investments, this platform gives you the structure and confidence to manage your money better.

How to Invest Using Cowrywise

If you want to grow your money steadily and build wealth over time, Cowrywise is one of the most trusted investment apps in Nigeria. It offers a simple and transparent way to invest in mutual funds, fixed-income products, and other low-risk options directly from your smartphone. Here’s a step-by-step guide on how to invest in Nigeria with Cowrywise:

1. Download and Register

Start by downloading the Cowrywise app from the Google Play Store or Apple App Store. Create an account using your email and phone number, then complete the verification process.

Cowrywise is regulated by the Securities and Exchange Commission (SEC), ensuring your investments are secure and professionally managed.

2. Choose an Investment Option

Cowrywise offers a range of digital investment options suitable for different financial goals and risk levels:

• Mutual Funds: These pool money from many investors to invest in diversified assets like stocks and bonds. They are professionally managed and ideal for steady returns.

• Fixed-Income Plans: Perfect for conservative investors who prefer predictable returns. Your funds are invested in low-risk government or corporate bonds.

• Halal Investments: Designed for users seeking ethical or Sharia-compliant investment opportunities.

• Emergency Funds: Short-term, easily accessible savings plans with minimal risk.

3. Start with Small Amounts

You don’t need a large sum to begin. Cowrywise allows you to start investing with as little as ₦1,000, making it accessible to everyone. As your confidence grows, you can increase your investment contributions gradually.

4. Automate Your Contributions

Set up automatic deposits to your investment plan—daily, weekly, or monthly. Automation helps you stay consistent and ensures you build your portfolio over time without stress.

5. Track Your Returns

The Cowrywise dashboard makes it easy to monitor your portfolio’s performance. You can view your earnings, reinvest your profits, or withdraw to your bank account when needed.

Investing with Cowrywise is a smart way to make your money work for you. Whether your goal is to save for the future, build passive income, or achieve financial independence, this platform gives you the tools and confidence to start small and grow consistently.

PiggyVest vs Cowrywise: Which Is Better?

When it comes to choosing the best app for saving in Nigeria, two names stand out — PiggyVest and Cowrywise. Both platforms help you save and invest easily, but they differ slightly in features, flexibility, and user experience. Below is a detailed PiggyVest vs Cowrywise comparison to help you decide which one suits your financial goals best.

Verdict: Which Should You Choose?

If your main goal is to save money online flexibly while earning interest, PiggyVest might be the better option for you. However, if you want a more structured, diversified, and professional digital investment experience, Cowrywise is an excellent choice.

Ultimately, both platforms complement each other — you can use PiggyVest for disciplined savings and Cowrywise for long-term investments. Combining both apps can help you build a strong financial foundation and move closer to achieving financial freedom.

Tips to Maximize Your Savings and Investments

Saving and investing with PiggyVest or Cowrywise is a great start, but to truly get the most out of these platforms, you need the right strategy. Here are some practical tips on how to grow your money in Nigeria and achieve lasting financial success:

1. Be Consistent with Your Savings

Set up auto-debits on either app to ensure money is automatically saved or invested at regular intervals. Consistency is the key to building financial discipline and steady wealth growth.

2. Reinvest Your Interest and Returns

Instead of withdrawing your interest or profit immediately, reinvest it. Compounding your earnings helps your money grow faster over time and increases your total returns.

3. Diversify Using Both Apps

You don’t have to choose between PiggyVest and Cowrywise. Use both platforms strategically—PiggyVest for short-term savings and emergency funds, and Cowrywise for long-term, diversified investments. This approach spreads your risk and maximizes your potential gains.

4. Avoid Impulse Withdrawals

One of the biggest threats to financial growth is unnecessary withdrawals. Take advantage of PiggyVest’s SafeLock feature or Cowrywise’s investment lock periods to keep your money secure until your goals are met.

5. Set Clear Financial Goals

Decide why you’re saving or investing—whether for rent, education, retirement, or business. Having defined goals keeps you motivated and makes it easier to track progress.

6. Review and Adjust Regularly

Check your savings and investment performance at least once a month. Adjust your plans as your income, expenses, or financial goals evolve.

By applying these tips, you’ll develop stronger financial habits and discover how to grow your money in Nigeria using modern fintech tools that make wealth-building simple, safe, and effective.

Common Mistakes to Avoid

While saving and investing digitally through platforms like PiggyVest and Cowrywise is convenient and rewarding, some habits can slow your financial growth or even cause you to lose focus. Here are common mistakes to watch out for and how to avoid them:

1. Withdrawing Too Early

Many users fall into the trap of withdrawing their savings before reaching their goals. Early withdrawals interrupt the power of compounding and reduce potential returns.

To avoid this, use features like SafeLock on PiggyVest or choose investment plans on Cowrywise with fixed durations that discourage premature withdrawals.

2. Not Setting Clear Goals

Without specific financial goals, it’s easy to lose motivation or spend your savings impulsively. Always define why you’re saving or investing—whether it’s for rent, education, travel, or business capital. Goal-based saving keeps you focused and disciplined.

3. Ignoring Investment Risks

Every investment, no matter how safe, carries some level of risk. Avoid investing blindly. Learn about the types of investments offered on Cowrywise (like mutual funds or fixed-income plans) and PiggyVest’s Investify before committing your money. Understanding risks helps you make informed decisions.

4. Not Verifying Your Account

Unverified accounts may face transaction limits or delays when withdrawing funds. Always complete your KYC (Know Your Customer) verification on both apps to secure your account and ensure smooth transactions.

Avoiding these mistakes will help you maintain financial discipline, maximize your returns, and get the best results from your digital savings and investment journey in Nigeria.

Final Thoughts

Building wealth doesn’t happen overnight—it starts with consistent action and the right financial tools. In today’s digital age, saving and investing have never been easier, thanks to platforms like PiggyVest and Cowrywise.

Whether you want to build an emergency fund, grow your investments, or achieve long-term financial freedom in Nigeria, these apps provide safe, automated, and user-friendly ways to help you reach your goals.

The most important step is getting started. Don’t wait until you “earn more” before you begin saving or investing—start with what you have today and grow gradually.

Ready to take charge of your finances?

Download PiggyVest or Cowrywise today and start building wealth from your smartphone—one smart saving and investment decision at a time.

Frequently Asked Questions

Which is better between Cowrywise and PiggyVest?

Choosing between Cowrywise and PiggyVest largely depends on your financial goals, risk appetite, and preferred investment style, as both platforms offer unique features suited to different types of investors.

Cowrywise is primarily designed for long-term investments, allowing users to save and invest in mutual funds, Treasury bills, and diversified portfolios. It emphasizes goal-based savings and automated investment plans, which is ideal for individuals looking to grow their wealth steadily over time.

Cowrywise also provides portfolio diversification and access to professionally managed funds, making it suitable for beginners who want a hands-off investment approach while still aiming for moderate returns.

PiggyVest, on the other hand, is more flexible for short-term savings and everyday financial management. It offers “Piggybank” for short-term goals, “Target Savings” for medium-term plans, and “Investify” for long-term investments in government bonds or fixed income products.

PiggyVest is generally regarded as more beginner-friendly due to its simple user interface, automated savings features, and instant withdrawal options. The platform also allows users to earn interest on their savings, although investment returns may not be as high as those from Cowrywise’s mutual fund options.

In essence, if your focus is long-term wealth building with access to diversified investment portfolios, Cowrywise may be the better option. Conversely, if your priority is liquidity, short-term savings, and ease of use, PiggyVest is likely the more suitable platform.

Both platforms are reliable, secure, and regulated, making them trustworthy for users. The choice ultimately comes down to whether you want higher potential returns through investments or convenience and steady interest earnings on savings. Combining both platforms strategically is also a viable approach for achieving both short-term financial flexibility and long-term wealth accumulation.

Can I invest 1000 naira in Cowrywise?

Yes, you can invest as little as 1000 naira in Cowrywise, which makes it highly accessible for individuals who are new to investing or have limited capital. Cowrywise allows users to start small and gradually increase their contributions as their financial capacity grows.

The platform is designed to accommodate micro-investments, which encourages consistent saving and investing habits over time. Users can set up automated contributions, allowing them to invest daily, weekly, or monthly without the need for manual intervention.

Investing even a small amount like 1000 naira can be significant in the long run due to the power of compounding. By consistently investing small amounts, you can build a substantial portfolio over time, especially if the funds are invested in higher-yielding products such as mutual funds or Treasury bills.

Cowrywise also provides educational resources and portfolio management tools to help users make informed decisions and optimize their investments. For beginners, starting with 1000 naira is a practical way to learn about investment options, risk tolerance, and market behavior without committing large sums of money upfront.

Additionally, Cowrywise offers various investment plans that cater to different goals, such as wealth growth, emergency funds, or retirement planning. With a starting capital of 1000 naira, users can access basic investment plans and gradually scale up as they gain confidence and experience.

This accessibility is one of the reasons Cowrywise has become popular among young investors and those who want to cultivate disciplined investment habits.

How to invest in PiggyVest for beginners?

Investing in PiggyVest as a beginner involves a series of simple steps designed to make the process straightforward and user-friendly. First, you need to create an account on the PiggyVest platform using a valid email address, phone number, and secure password.

Once registered, your account must be verified through a KYC (Know Your Customer) process, which typically involves providing identification details like a government-issued ID or biometric verification to ensure security and regulatory compliance.

After account verification, beginners can start with PiggyVest’s “Piggybank” feature, which is designed for saving money automatically. Users can set a specific savings target, decide how much to save daily, weekly, or monthly, and the system will automatically deduct the amount from their linked bank account.

For those looking to invest, PiggyVest’s “Investify” feature allows users to invest in government bonds, treasury bills, or fixed-income products with relatively low risk and moderate returns. New investors can start with small amounts, learn how the platform operates, and gradually scale their investments as they gain confidence.

It is advisable for beginners to focus on setting clear financial goals before investing. Whether it is short-term savings, emergency funds, or long-term wealth accumulation, defining objectives helps in choosing the right PiggyVest product.

Regularly monitoring your investments, reinvesting returns, and using automatic savings plans can maximize growth. PiggyVest also offers educational content and insights to help new users understand investment strategies and risk management, making it an ideal platform for learning the basics while growing financial assets.

Is Cowrywise safe to invest?

Cowrywise is considered a safe and secure platform for investment, as it operates under the regulatory oversight of the Securities and Exchange Commission (SEC) in Nigeria.

This means that Cowrywise is legally required to adhere to strict operational standards, including transparency, proper record-keeping, and secure handling of client funds. User funds are held in segregated accounts with partner banks, ensuring that investor money is protected and cannot be misused by the platform for operational purposes.

The platform also employs advanced security measures, including data encryption, two-factor authentication (2FA), and secure login protocols to prevent unauthorized access. Additionally, Cowrywise invests in regulated financial instruments such as mutual funds, treasury bills, and fixed-income securities, which are managed by professional fund managers. These investment products undergo rigorous risk assessments, offering a layer of protection for users’ capital.

However, like all investments, Cowrywise carries some level of risk, particularly when investing in mutual funds or other market-linked products. Returns are not guaranteed, and market fluctuations can affect portfolio value. Despite this, the platform’s transparency, regulatory compliance, and focus on secure investment mechanisms make it one of the safer options for individuals seeking to grow their wealth responsibly in Nigeria.

Does CBN recognize Cowrywise?

The Central Bank of Nigeria (CBN) does not directly regulate Cowrywise because it is not a bank; rather, it is an investment and savings platform licensed by the Securities and Exchange Commission (SEC).

The SEC is the primary regulatory body for investment companies, mutual funds, and other capital market activities in Nigeria. Therefore, Cowrywise operates legally and under the guidelines of the SEC, which ensures that the platform adheres to standards for fund management, investor protection, and financial reporting.

While the CBN does not regulate Cowrywise directly, the platform partners with banks for fund storage and transactions, which indirectly brings some level of compliance with CBN regulations regarding electronic transfers, banking security, and financial operations.

The lack of direct CBN recognition does not indicate illegitimacy; rather, it reflects the division of responsibilities between banking regulation and investment regulation in Nigeria. Investors can safely use Cowrywise as long as they understand that it is a regulated investment platform, not a bank.

How to make 100k monthly on PiggyVest?

Making 100,000 naira monthly on PiggyVest is achievable but requires strategic planning, consistent investment, and a combination of savings and investment products. PiggyVest offers three main features that can help users generate returns: Piggybank, Target Savings, and Investify. For someone aiming for 100k monthly, the focus should be on Investify and high-yield savings strategies, as Piggybank primarily helps with saving rather than generating significant returns.

To start, you need to determine the capital you are willing to commit. Higher returns typically require higher initial investments. Investify allows users to invest in fixed-income products like government bonds, treasury bills, and low-risk corporate bonds, which offer higher returns than traditional savings accounts.

By carefully choosing diversified investment plans and reinvesting the returns, users can build a compound growth effect over time, moving closer to their 100k monthly goal.

Consistency is key. Setting up automated contributions ensures that your investments grow steadily, even without daily oversight. For example, if you can invest a portion of your income weekly or monthly, PiggyVest will automate the transfers and investment allocations. Additionally, users can diversify their approach by combining Investify investments with Target Savings for short-term goals. This dual strategy allows some funds to earn interest in the short term while other funds grow steadily through higher-yield investments.

It is also important to leverage PiggyVest’s educational content and market insights to make informed decisions. Understanding risk, expected returns, and market trends can help optimize your investment strategy.

While making 100k per month is possible, it may take time to reach this target, especially for beginners with limited starting capital. For those starting small, the approach should be gradual: grow your portfolio, reinvest earnings, and progressively increase contributions to achieve a sustainable 100k monthly income.

Does Cowrywise pay interest daily?

Cowrywise does not typically pay interest daily. The platform primarily focuses on long-term wealth growth through mutual funds, treasury bills, and goal-based investment plans.

Returns on investments are usually calculated based on the performance of the underlying assets, which means earnings accrue over time and are reflected periodically rather than daily. For instance, mutual fund returns or treasury bill yields may be credited monthly, quarterly, or annually, depending on the specific investment product.

However, Cowrywise does offer automatic compounding within certain plans, which helps investors grow their wealth consistently. While you may not see daily interest in your account, the power of compounding ensures that your investments steadily increase over time. The platform’s primary goal is to encourage disciplined, goal-oriented investing rather than short-term profit chasing, which is why returns are structured to accumulate over periods rather than daily payouts.

Investors seeking daily interest may need to explore alternative savings or micro-investment products, as Cowrywise emphasizes security, long-term growth, and professional fund management. It is crucial to align expectations with the type of product you choose, understanding that higher-yield investments in Cowrywise are designed for sustained growth rather than immediate daily earnings.

Which investment gives 50% return?

Achieving a 50% return on investment is extremely high and typically associated with high-risk ventures rather than conventional financial instruments like savings accounts, government bonds, or mutual funds. Investments with the potential for such returns usually involve equity markets, cryptocurrencies, startups, or speculative assets, all of which carry substantial risk of partial or total capital loss.

For example, certain stocks or cryptocurrency holdings may yield 50% or more within a short period under favorable market conditions. However, these gains are unpredictable and volatile. Angel investing in startups may also offer high returns but is accessible only to investors with sufficient capital and a tolerance for risk. High-return investments require careful research, diversification, and an understanding that losses can be equally significant.

Conservative investment options like PiggyVest, Cowrywise mutual funds, or government securities typically offer returns between 5% and 20% annually, far from the 50% target.

Therefore, while a 50% return is theoretically possible, it is generally not feasible through low-risk, regulated platforms. Investors seeking such gains must be prepared for volatility and ensure they only invest money they can afford to lose. Diversification across various asset classes can help manage risk while attempting to achieve higher returns.

How to earn 1k in 1 hour?

Earning 1,000 naira in one hour is achievable through several practical approaches depending on your skills, resources, and access to digital or physical marketplaces.

One of the quickest ways is leveraging online freelance platforms like Fiverr, Upwork, or local freelance marketplaces where tasks such as graphic design, content writing, transcription, or data entry can yield 1,000 naira or more per hour for beginners with basic skills.

Micro-tasks such as completing surveys, app testing, or performing simple digital tasks on platforms like Remitbee or Swagbucks may also provide similar returns.

Offline methods include offering services within your community, such as tutoring, delivery services, errand running, or selling products with high demand. Small-scale reselling, such as buying low-cost items and selling them at a markup, can generate 1k within an hour if the market demand is favorable.

Digital content creation is another avenue. Short videos, reels, or social media posts monetized through ads or affiliate marketing can produce small but immediate income. Additionally, ride-sharing or food delivery services like Bolt, Uber, or local equivalents provide flexible options for earning 1k per hour, particularly during peak demand periods.

The key to consistently earning small sums quickly is identifying high-demand tasks that match your skills and resources, focusing on efficiency, and being proactive in seeking opportunities. Combining multiple micro-income streams can also help achieve the target faster.

Does PiggyVest pay interest monthly?

Yes, PiggyVest typically pays interest on its fixed savings and investment plans on a monthly basis. The platform’s fixed-income products, such as those offered through Investify or the fixed savings options, accumulate interest over the investment period and credit it to users’ accounts either monthly or at the maturity of the investment, depending on the product.

For example, fixed savings accounts may earn interest rates ranging from 5% to 15% annually, with the monthly equivalent credited to the user’s account, allowing for compounding over time.

The monthly interest payment structure encourages users to reinvest their earnings, helping to grow their savings and investments steadily. It also provides a predictable cash flow, which can be useful for budgeting or planning short-term financial goals. Users can monitor their interest accruals on the PiggyVest dashboard, ensuring transparency and control over their investment growth.

PiggyVest’s monthly interest model differentiates it from platforms like Cowrywise, which may calculate returns based on the performance of underlying assets rather than a fixed monthly interest. Understanding the payout frequency is essential for investors to align expectations with their financial goals and investment timelines.