Is Piggyvest a good platform for saving?

Piggyvest is a platform that allows you save money automatically with ease. It helps you carve out certain amount of money from your bank account for the rainy day. It has no start fee, meaning, you can open it  with a zero account. The only thing you might need would be your BVN to link your savings with your bank details for withdrawal. It allows the following deposits: daily deposit is between N50-N25,000. Weekly is between N1,000 to N100,000. Monthly deposit range is between N3,000 to N500,000. The piggyvest wallet can either be accessed on the web and app. You could decide to use the website platform or download the app from Google playstore.

Features of the Piggyvest wallet

1. Savings: Piggyvest has three forms of savings: a) Target saving. This an option that allows you save towards a purpose. Even when you have an emergency, you won’t have access to the money untill the days you stipulated for the completion of the target. For example, you can save towards your education, new gadgets, house rents, for months. You get to choose the amount you want to save and when you want to save. b) Safelock saving. Safelock is an option that helps you lock money away for months, usually 2-24 months, and also gives you interest on your savings. c) Flex Dollars saving. The flex Dollars allows you save money in US Dollars. This is a good option for those who are international trade savvy. I would suggest you buy dollars when exchange rate is low and withdraw it when you notice a rise in US-NGN exchange.
2. Interest rate: Piggyvest wallet gives you interest for saving money. Banks, these days, do not give you interest for saving your money, instead they debit you for some maintenance. The interest rate for using the target saving is 10%, flex Dollars 6% and Safelock 13% all per annum.
3. Investment: This platform helps you invest in different aspect of life. Ranging from agriculture, transportation and others
4. Withdrawal: Withdrawal of your money is usually free during a period of time (March 31st, June 30th, September 30th and December 31st). Any withdrawal outside these dates would cost you about 5% of the amount you wish to withdraw.