What is PiggyVest?
PiggyVest (formerly Piggybank.ng) is a Nigerian savings and investment platform that helps individuals automate their savings and access vetted investment opportunities. It was founded in 2016 and has grown to over 4 million users.
How It Works
Users sign up, link their bank account or card, and set automatic savings schedules (daily, weekly, or monthly). Funds are locked until a chosen withdrawal date, discouraging impulsive spending. The platform also offers a flexible “Flex Dollar” savings in USD and access to investment opportunities via Investify.
Key Features
- Automatic scheduled savings (PiggyBank, Safelock)
- Up to 13% annual interest on locked savings
- Dollar savings (Flex Dollar)
- Investify — access to vetted investment deals
- Quarterly withdrawal windows for locked funds
Pros and Cons
Pros: Forces savings discipline through lock-in periods. Competitive interest rates. Long track record since 2016. SEC-registered investment partner.
Cons: Locked savings cannot be broken early (by design). Early withdrawal from Safelock incurs a 10% penalty. Not a full-service bank — limited to savings and investments.
Verdict
PiggyVest is one of the safest and most trusted savings platforms in Nigeria. It is the right tool for people who struggle to save consistently. The lock-in feature is a feature, not a bug — it works exactly as intended for disciplined long-term savers.
