Introducing PiggyVest to the public in the year 2016 has to be one of the best FinTech innovations the decade could offer.
From January 2016 till date, PiggyVest has helped millions of people save towards their intended goal or accomplishment.
The most captivating factor about PiggyVest is the interest accrued on savings.
In this article, I will be taking you through all PiggyVest saving plan and their interest rate.
See also: 7 Reasons Why You Should Save With Piggyvest
PiggyVest Interest Rate For Piggybank
The Piggybank saving feature enables people to save for both short time and long term goals.
The interest rate for Piggybank is 8% per annum (yearly) and 0.67% monthly.
Note that Piggybank allows 4 free withdrawals for a year and the 4 withdrawal days are:
1. 31st March
2. 30th June
3. 30th September
4. 31st December
Any withdrawal made outside of these 4 days will attract a breaking fee of 2.5% of the money to be withdrawn.
See also: How Many Products Does PiggyVest Have?
In case you would like to choose your withdrawal date, follow the steps mentioned below to do that:
1. Log into your PiggyVest Mobile app
2. Locate and click on Savings (it is positioned at the second left bottom of your mobile app dashboard)
3. Click Piggybank
4. Click Settings
5. Locate and click Set withdrawal days
6. Tap Set my withdrawal day
7. Choose your preferred withdrawal date from the option available
8. State reason for the chosen withdrawal date (this is optional)
9. And click on the set withdrawal day button
Note that you can change your set withdrawal date anytime but cannot go back to Piggybank free withdrawal date until after the next free withdrawal date.
See also: Steps On How To Delete PiggyVest Account
PiggyVest Interest Rate For SafeLock
SafeLock as the name implies is a feature created to help PiggyVest users lock away funds until its maturity date.
The interest rate for SafeLock varies with duration and they are:
• 10-30 SafeLock attract an interest of 6% per annum
• 31-60 days Safelock attract an interest of 7% per annum
• 61-90 days SafeLock attract an interest of 9% per annum
• 91-365 days SafeLock attracts an interest of 10% per annum
• 1-2 years SafeLock attracts an interest of 12.5% per annum
• 2 years and above SafeLock attracts an interest of 26% – 36% per annum
See also: How To Open & Use A Kuda Bank Account
PiggyVest Interest Rate For Target
The Target saving feature is similar to that of SafeLock as it also helps people save money towards a goal or accomplishment.
With Target savings, you can invite friends and make it a saving fun challenge and smash all your financial goals together.
The interest rate for Target savings is 8% per annum.
Note that the money saved in Target savings cannot be withdrawn until the maturity date is reached.
PiggyVest Interest Rate For Flex Naira
Flex Naira performs the same function as a normal commercial bank, you can save money, withdraw the money saved and gain interest on the money saved.
The interest rate for Flex Naira is the same as that of Piggybank, 8% per annum (yearly) and 0.67% monthly.
In a Flex Naira account, withdrawal can only be made once every 10 hours.
Also note that withdrawing money from your Flex Naira account more than 4 times a month will make you lose all interest accrued for that month.
See also: 3 Best Digital Banks In Nigeria
PiggyVest Interest Rate For Flex Dollar
Flex Dollar is an easy and straightforward feature that helps people to save, invest and transfer money in Dollars.
Saving with Flex Dollar provides you with 7% interest per annum, which equals 0.58% monthly.
PiggyVest Interest Rate For Investify
Investify as the name implies helps PiggyVest users to earn money from pre-vetted, low-medium risk, primary and secondary investment opportunities.
This is done by investing in available investment opportunities made available on PiggyVest mobile app.
The interest rate for Investify varies across different investment opportunities, sometimes, it can be as high as 25%.
Originally posted on June 2, 2021 @ 1:01 pm
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