BEST INVESTMENT APPS IN NIGERIA

If you have some cash that you need to keep away for about 6-12 months and you don’t want to keep it in the bank there are some risk free options you can explore that would give you better interest returns than the bank.  

Until recently, the idea of being able to ‘invest’ seemed unattainable. It was something you only aspired to do once you had a lot of extra cash and a thorough knowledge of financial markets. Potential investors had to go to asset management companies, brokerage firms, private portfolio managers or investment firms to complete the very formal process to invest. But mobile and web apps are leveraging tech to make investing more accessible through digital ‘investment platforms–drawing in beginner investors along the way.

Platforms like PiggyVest (formerly Piggybank) and Payday Investors, I-invest, PayVest amongst others automate saving on daily, weekly or monthly intervals with earned interest on products between 10-20% annually. Both platforms give users an opportunity to convert savings into investments, earning more than with commercial banks who usually have excessive charges.

 

PIGGY VEST

Platforms: Android, IOS

The interest on safe lock: 12.44% per annum

Issue debit card: NO

Duration: 30, 60, 180 and 365 days

Withdrawal charges: 5% fee but with 4 free-of-charge withdrawals annually

Minimum withdrawal: N3000.00

User Verification: Not necessary

Piggy vest is a simple web app that helps individuals and businesses manage their finances effectively. You can choose to save little amounts daily, weekly or monthly automatically from your debit card towards a savings target.

 

I-INVEST APP

Platforms: Android, IOS

The interest on safe lock: 8-20% per annum depending on the country risk

Issue debit card: NO

Duration: 30, 60, 180 and 365 days

Withdrawal charges: no charge

Minimum withdrawal: N3000.00

User Verification: BVN, Phone Number, Utility Bill and a means of Identification (drivers licence or national Identity Card or Voters Card or International passport)

I-invest unlike the usual method of buying T’bills provides a convenient platform fo you to invest in T’bills, monitor growth of your portfolio in real time and liquidate your investment at anytime into cash

 

PAYDAY INVESTORS

Platforms: Android, IOS

The interest on safe lock: 13.5-20% per annum depending on the money market rates

Issue debit card: NO

Duration: 30, 60, 180 and 365 days

Withdrawal charges: NEFT N52.50

Minimum withdrawal: N10,000.00

User Verification: BVN, Phone Number, Utility Bill and a means of Identification (drivers licence or national Identity Card or Voters Card or International passport)

PayDay investors apps is the first Mutual funds investment platforms designed by ARM Securities Mutual Funds. The money you put are spread across various short term risk-free investments like Treasury Bills, Commercial Papers etc

 

PAYVEST

Platforms: Android

The interest on safe lock: 15.5%

Issue debit card: NO

Duration: 30, 60, 180 and 365 days

Withdrawal charges: no charge

Minimum withdrawal: none

User Verification: BVN, Phone Number, Utility Bill and a means of Identification (drivers licence or national Identity Card or Voters Card or International passport)

Pay vest is a fixed deposit account product offered by PayLater, a mobile lending platform in Nigeria, the interest rate on this app seems to be the highest rates you can find anywhere. The only Investment that matches this is CBN Treasury Bill offered by I-Invest.

 

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