5 Best free money saving apps in Nigeria

5 Best free money saving apps in Nigeria – Money-saving applications make the process of saving easier. It is critical to keep your savings strategy intact since it will assist you in the event of a financial emergency. Gone are the days when saving meant putting money down in a lump amount and waiting in a long bank line. Several free money-saving applications have been developed as a result of continuous technology developments to make the procedure easier.

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Let’s have a look at some of the finest free money-saving applications available in Nigeria right now.

  1. PiggyVest

PiggyVest is the first online savings and investing app in West Africa, being launched on January 7th, 2016. What started out as savings software has evolved to include investing options for its users. This feature is in addition to the company’s savings plan. PiggyVest is free money-saving software that allows users to save as little as 50 Naira each day. The maximum amount you may save on this app is unlimited.

Customers that save with PiggyVest earn between 10-15% interest on their money. Furthermore, the return on investment is greater than 25%.

PiggyVest target savings allows you to set aside money for a specific purpose. Rent, buying electronics, traveling, and so forth are examples of such objectives. You can make the challenge more enjoyable by inviting your friends to participate and achieve their own goals.

The SafeLock option is the best bet if you want to set aside money for a specific period of time. SafeLock’s aim is to prevent you from accessing the locked cash before the time period you specify.

Flex Dollar allows you to keep the value of your money. To put it another way, you can save in foreign currencies like dollars to avoid losing money.

Wallet with Piggybank: If you need to save money and withdraw it quarterly, this wallet is ideal. You get to choose how much will be deducted from your account and credited to your Piggybank Wallet.

2. Jetseed

Jetseed, formerly Pettysave, is a savings software that helps you manage your funds so you may attain financial independence. It enables you to save and invest more wisely and safely while earning 10% to 50% returns.

Savings Plans by Jetseed
Targeted Savings
Need to put money aside for things like education, a vehicle, a trip, and so on? You’re covered by the “target save” functionality. You may save and earn up to ten percent interest while doing so.

Vault allows you to invest surplus cash in fixed deposits to earn a higher income. You might earn up to 12% interest depending on the term of the loan.

Save automatically
With autosave, a certain amount is automatically saved and withdrawn from your bank account. Depending on your interests, it may be daily, weekly, or monthly.

3. Carbon

Carbon is another app on our list of the top free money-saving applications. Carbon is not only one of the finest applications for rapid loans, but it also ranks first in terms of saving. The Carbon app is utilized not just in Nigeria, but also in other countries where it has been approved. Carbon, like many other excellent saving applications, is licensed by the CBN, ensuring the protection of your funds. One of the best things about Carbon is that no matter what your savings objectives are, there are ways to meet them.

Carbon has a Cash Vault.
Carbon Cash Vault is a fixed deposit account that allows you to put money aside for a certain amount of time. It doesn’t end there, though. You may also earn 11% on each investment you make, starting with N500,000.

FlexSave
You have the option of adding to your account as you see fit using this function. You may earn up to 9% on your investments with FlexSave.

Goals
You may establish daily, weekly, or monthly savings objectives using Carbon goals. It starts with as little as N100, and when you reach your goal, you may earn up to 9.5 percent in interest.

4. SumoTrust

SumoTrust is a well-known Nigerian savings software that allows you to earn 10 to 15% on your annual savings. You may save, withdraw, and plan your savings with SumoTrust to accomplish your financial objectives. On this saving software, you may start saving with as little as 100 Naira and as much as 500,000 Naira each month. You are entitled to a free withdrawal for all of your transactions. Every transaction made outside of your set withdrawal date, however, incurs a fee of 4.5 percent of the amount withdrawn.

Main Savings Features
You may pick your saving intervals here. It can be done on a daily, weekly, or monthly basis. You’ll also get a 10% annual interest rate.

Savings that are set in stone
You may safely store your cash for an extended length of time, generally up to a year. The yearly interest rate is 15 percent.

Savings for Missions
This plan is ideal if you need to save money for a certain activity. You’ll decide on a goal and start saving till you reach it.

5. Kuda

Kuda, which was launched in 2018, is one of Nigeria’s top free money-saving applications. Its financial technology enables consumers to save money across many platforms with ease. Kuda allows you to save manually or at predetermined intervals. All of this is completed at your leisure.

Kuda Offers Pre-Paid Savings
Fixed savings allows you to put aside a large sum of money for a certain period of time and receive up to 15% interest.

Savings that are adaptable
Flexible savings allow you to put money aside for a specific goal while earning up to ten percent interest.

Spend+Save
The spend + save function automatically saves money for you every time you spend money from your Kuda account. All you have to do is set aside a certain proportion of your income every time you spend. That’s that about “5 Best free money saving apps in Nigeria”