Cowrywise vs PiggyVest (which platform is better?)

Cowrywise vs PiggyVest (Which platform is better?)

Read my post on cowrywise vs piggyvest.

We have over 20 financial companies in Nigeria and there are other financial companies still in the process of coming up.

Financial companies are companies that use technology to solve financial programs such as saving, investment and banking problems.

For this article, our major concern is on Cowrywise vs piggyvest and both companies offer both savings and investment opportunities to their customers.

These financial tech companies have helped Nigerians to cultivate saving habits in the past years as well as giving them opportunities to make various investments.

Let’s look at each of these companies, their type of features, interest rate and withdrawal and then allow you to make a decision on which one is your best bet.

Cowrywise: Features, Interest Rate, Investment And Withdrawal

Cowrywise is a fintech company in Nigeria that offers both investment and savings plans and rewards its customers with a certain percentage of interest. They started back in 2017 and are still working effortlessly to give the best to their customers and ensure they help to meet up to your financial goals.

Features Of Cowrywise

Cowrywise offers different features when it comes to your savings plan to ensure each customer can find a saving plan that suits his or her budget let’s look at the details of each feature

Read my Piggyvest review


Regular savings on cowrywise is a type of saving plan for three months and then you can have access to creating more than one regular savings and this can be used for whatever reason which may include fees, rent and feeding etc

Life Goals

This is more of a long-term saving where your funds are kept for at least one year to ensure you are disciplined and able to meet your financial plans and goals.

Emergency Plan

Just like the name, it is meant for unexpected and unforeseen circumstances and you are given access to your funds at any time you wish, all you need to do is to request a withdrawal.

Saving Cycle

The feature is more like a group kind of saving and it has different segments which are :

i. Challenges: This option is for family and friends to save collectively

ii. Collection: This is more private than the challenge is more like an investment club

iii. Money duo: It is usually for two people. It can either be for married couples or for lovers to encourage and help them build the savings habit.


This is created for Muslims to respect their faith and not go against their faith by not providing an option for interest.

Interest Rate

The least interest rates on Cowrywise are within 5% to 10% and promise 15% based on how long your funds remain on their system and there’s no length period between the supposed 15% or least 10% in interest rates and interest on mutual investments varies and charges on cowrywise account is at 2.5% yearly.


Cowrywise has proven to have the largest mutual funds collection in the country and is regulated and registered by the Securities And Exchange Commission (SEC).

Mutual funds consist of different assets and provide an excellent opportunity for both first-timers and long-term investors before investing.

In mutual funds, you will be asked different questions to ascertain what category of investors you fall under ranging from conservative, moderate and aggressive. After you’ve been put in a category, the different types of investment will be provided for you to choose from. Cowrywise also provided an option to invest in the dollar mutual fund


Cowrywise is strict on their level of withdrawal because they want you to cultivate and make a withdrawal on a specific date only to ensure you build up your saving abilities.

Piggy Vest: Features, Interest Rate, Investment And Withdrawal

This is another fintech company that focuses on saving online and also offers investment plans for as low as 5000 nairas with certain specified

Piggy Bank

This is where you are allowed to save daily,  weekly and monthly  and you also get to make withdrawals on the last day of every three months your savings can be automatic and in a case where you place a withdrawal before the due you will date will be charged a certain percentage from the amount you want to withdraw

Flex Naira

This plan is more flexible as you can make withdrawals at any time of the day without being charged and you are provided with an account number where you can make deposits and receive funds.

Flex Dollar

just like the name specified, you can save your money in dollars using their current.

Safe Lock

this saving plan gives you specific interest on any amount you save depending on how long the money is kept in their system and it is unbreakable until the date you set for withdrawal


This savings plan allows you to save a certain amount for some time with interest if you can be disciplined enough to hit your money goals. You can also set targets for family and friends as well as try different target groups

Interest Rates

Piggyvest gives about 8% per annum on a savings plan and with the safe lock you can get an interest of up to 13% per annum while on the target plant you get 8% per annum and on your flex dollar plan you get 7% and on the investment, plans can get up to 20% interest rates.


The least amount to invest in piggyvest is 5000 naira and you can have a low medium risk without any hidden charges. This investment plan is divided into four categories which include fixed income, agricultural, real estate and transportation although most of the investments are on an agricultural base product with a fixed interest rate attached.


Piggyvest withdrawal is more flexible as you can set your withdrawal dates or use the withdrawal date given to you by piggyvest  and you can decide to use a flex naira to make withdrawals free of charge you can only be penalized on your piggyvest account if you make withdrawals before due date.

Read my post on top 10 digital banks in Nigeria


Cowrywise and Piggyvest all tend to work together to achieve the same aim of building a savings plan for their customers and providing legitimate investment opportunities.


Thank you for reading my post on Cowrywise vs PiggyVest (Which platform is better?). If you have any comment or question, you can leave it below in the comment section.

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