2022 Piggyvest Review – The best saving and investment platform to earn online | How Legit is Piggyvest?

Piggyvest Review 2022 – The best saving and investment platform to earn online | How Legit is Piggyvest?
With our Piggyvest Review you will get to know if it’s really the best platform to save and earn money online.A lot of people just like you come across online platforms of making money such as Piggyvest, cowrywise etc and you bear this burden in mind to know if the platform is Legit or Scam. This makes you  anxious to know Piggyvest Review.

It’s really a big loss spending your time and money on a platform that ends up being a scam thereby, not paying you your earnings or not fulfilling their promises at all.

This prompt for making research before jumping into online earning platforms in order not to make big mistakes that makes you feel bad. You can also check out how cowrywise review as well.

Brief introduction – Piggyvest Review

Piggyvest was launched in 2016 and has been working for about four years now. It’s Office is located at No.16 Boyle street, Lagos Island, Lagos State.

This platform is said to be the first online savings and investment app/website in West Africa.

Piggyvest renders arrays of service that one will really like to pertake aside serving as platform for saving with high interest.

What is Piggyvest?

PiggyVest (formerly is a simple app that helps you save and invest with ease. With PiggyVest, you can stop spending excessively and put away (and grow!) funds that you do not want to touch.

You can choose to save little amounts of money periodically (Daily, Weekly or Monthly) towards a specific target OR lock away funds for a specified period of time.

We take away the stress by combining simplicity, discipline, convenience, and flexibility to enable you to manage your finances better and achieve financial freedom.

Piggyvest helps you to save money overtime and when you are ready to cash out the money, you get it with interest.

Commercial banks give you a maximum of 4% interest on savings from which you are being charged for ATM card maintenance fees and other fees thereby, reducing earning interest of your money.

With piggyvest you get between 10% to 12% interest for saving your money without any charge and you also receive bonus at regular interval thereby, increasing your earnings.


How Legit is piggyvest?

As at the time this post was written, Piggyvest does not have any record of scam or business failure. It is considered as the first and best when it comes to online savings. to answer the question of being legal, Piggyvest is registered as PiggyTech Global Limited, with RC 1405222. I hope this satisfies your curiosity. Again, Piggy Bank is a product of the microfinance bank policy of the CBN. It is a registered bank with the CBN, Nigeria Insurance Deposit Corporation [NIDC] and everything is insured. It is registered and located at Tesmot House, 3 Abdulrahman Okene Close, off Ligali Ayorinde, Victoria Island, Lagos, and you can contact them through:Contact Number: 0700 933 933 933, Email:

Piggyvest Review: How it works

1. Firstly, Sign up to this amazing platform by clicking here

2. Fill in the registration form and submit.

3. Go over to your E-mail and click on the verification mail sent to you to verify your account.

5. Fund your Flex wallet to redeem your your Sign up bonus.

6. Refer friends to earn more, you earn #1000 per referral.

7. You can save your money to earning interest.

8. Finally, You can withdraw your earnings anytime straight to your bank account.

You can watch this video below in order to know how to register a piggyvest account

Piggyvest Features

There are amazing features in this platform that enhance earning process with productive results. Stick with me as I take you through this amazing features.


This feature enables you to save money by choosing an amount of money to save from your bank account setting a stipulated date for free withdrawal.

Any attempt to withdraw outside the stipulated date attracts a 5% charge.


SafeLock is a fixed savings option that allows you to earn up to 15.5% per annum, usually paid up front.

Your Safelock acts as your sub-account so that you can transfer and lock funds from your Piggybank wallet or your debit card for at least 10 days, without access to these funds until maturity.

The SafeLock feature is one step further towards curbing the temptation to touch money that you have put aside as your savings.

This feature is similar to a fixed deposit account that allows you to lock funds for a duration of 10 to 1000 days without having access to unlock funds outside the stipulated date. The minimum fund you can SafeLock is #1000 and the minimum duration is 10days.

Piggy Flex

This feature allows you to transfer, accept and build emergency funds easy without charges. It operates on the basis of 10% interest on any amount of money you deposit.

How to fund my flex wallet

To fund your flex wallet, simply link your BVN to your piggyvest account to get your unique Flex account number.

Once this is done Login to your Banking App, go over to transfer funds and input your Flex account number in the required field and select your providous bank as the recipient bank.

Follow through with the required steps for funds to be transferred from your bank account to your Flex account.

Investment Program

This feature allows you to invest in agricultural productions, Farm productions and industries. You can invest a certain amount that will be used to farm and you get paid with a 20% interest after a duration of 9 months.

Piggy Points & Rewards

What are piggy points?

This feature rewards user for saving consistently. For you to qualify for earning points you need to save at least #2,000 at once in your piggyvest wallet.

How do I earn piggy point?

  • N2000 – N4999 = 1 point
  • N5000 – N9999 = 2 points
  • N10000 – N49999 = 10 points
  • N50000 – N99999 = 25 points
  • N100000 and above = 55 points

What can I use my piggy points for?

You can now convert your Piggy Points to cash in your Flex Account

1 Piggy Point = N10.

Referral Program

Piggyvest is a platform where you can earn by referring others to join the amazing platform.

How do piggyvest referral work?

When someone signs up to PiggyVest using your referral link, you and the person you have referred each earn N1000, which is paid into your SafeLock. This matures to your flex account after 10days once the referred user is marked valid.

As a new user, your bonus will be paid into your SafeLock and matures to your flex account 10 days after you have been marked valid.

And your referrals also earn #1000 after a complete sign up and verification.

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How to Withdraw

You can easily withdraw your funds at any point in time by requesting withdrawal to your bank account. You can also withdraw your referral earnings provided your referrals have completed the sign up process and verified their account.

Logically if you refer about 30 person’s you will be withdrawing a passive income.

Frequently Asked Questions

When can I withdraw my Piggyvest savings?

You can withdraw for FREE only on set Withdrawal dates. You can set your own FREE withdrawal dates OR you can make use of the PiggyVest quarterly fixed FREE withdrawal dates.

After the request has been made, funds would be sent to your bank account and can also be sent to your Flex Naira account instantly and then you can withdraw to your set bank account anytime.

PS: If you decide to set your own convenient FREE withdrawal date, the next available FREE date will be exactly 3 months from your last free withdrawal day.

When is Piggy bank’s free withdrawal dates?

You can choose your own FREE withdrawal dates on your dashboard.

OR You can use Piggybank’s FREE withdrawal days which are:

  • 31st March
  • 30th June
  • 30th September
  • 31st December

What happens if I withdraw outside Piggy bank’s free withdrawal dates?

Any day outside the Withdrawal days will attract a 5% penalty fee.

Can I choose any amount to withdraw?

Yes, you can, just go to the withdraw page and enter how much you want to withdraw.

How do i withdraw my piggyvest savings?

You need to have filled your bank details in your withdrawal settings then, click on the “withdraw” option on your dashboard, enter the amount you want to withdraw and your funds will be transferred to your set bank account within the stipulated time (not more than 3 working hours).

What is the maximum and minimum amount I can withdraw from my piggyvest account?

The minimum amount you can withdraw from your Piggybank is N3000 and there is NO maximum. You can withdraw all of your funds whenever. However, fixed free withdrawal dates still apply.

PS: You can ONLY withdraw once in 24hours.

Do transfers from piggybank to flex count as a withdrawal?

Yes, transfers from your Piggybank wallet to your Flex account count as a withdrawal

Who is a valid user in Piggyvest?

To be considered valid, a new user must:

  1. Link their BVN and fund their Flex Naira wallet with at least #100 via a direct bank transfer to their flex account number
  2. Fund any other two wallets with at least #1000 each. This could be Piggybank, Safelock, or Target savings wallet.

Once all of these have been done, referral bonuses will be unlocked and sent to your flex account at the maturity date.

Your BVN is required to validate your identity and kick against identity theft. This ensures another level of safety for your funds and transactions.

It also unlocks other features like transfers from your Flex to another user’s Flex account.

What if I no longer have access to the phone number linked to my BVN?

In a situation, where you no longer have access to the phone number linked to your BVN, kindly contact your bank to update the phone number.

How can I check my referrals?

To check the status of people you referred, login to your Piggyvest dashboard, select Account > Earn N1000 per invite > Click on each name to see if they’re valid.

What is the “Delete Promo Safelock” button for?

If for any reason, you no longer want the referral bonus, you can click on this button and the bonus will be deleted from both the referrer and the referred user’s account.

How do I know what plan is right for me?

All of the savings and investment options on Piggyvest are tailored towards a particular need.

  1. If you’d like to regularly put away money for your savings and withdraw only once a quarter, then the Piggybank wallet is right for you. You can set it so that money is taken from your account and you don’t have to worry about saving manually.
  2. If you’re saving towards a particular goal such as rent or travel, Target Savings is a great option. You can invite friends and make it a fun challenge to smash all your financial goals.
  3. If you’re looking for something geared towards the long term, The SafeLock feature is perfect for you. With higher interest rates, you could lock away funds you don’t need access to and make even more money by doing so.
  4. If you’re looking to get started on investments or diversify your portfolio, then pre-vetted, low-risk investment opportunities are regularly available on Investify to help you grow your money.

How do I start saving on Piggyvest?

To start saving on PiggyVest:

  1. Visit the website or download the app to create an account.
  2. Set up your withdrawal account details; this is the bank account that funds you withdraw will get sent to.
  3. Enter your debit card details to activate your account and then make your first deposit. (You may use a MasterCard, Visa or Verve card from any Nigerian bank).
  4. You may now proceed to use any of the Savings Plans to start your daily, weekly or monthly savings.

Are there bank charges when you deduct from my account?

No! it’s completely FREE. There are no bank charges for transferring money to your PiggyVest account.

How much can I start piggyvest with?

You can ONLY save between:

  • N50 – N50,000 daily,
  • N1000 – N200,000 weekly,
  • or N3,000 – N500,000 monthly

However, you can always top up your savings at any time using the Quicksave option which allows you to add up to N500,000 per time.

Is Piggyvest safe?

All financial information is encrypted and stored to PCIDSS Level 1 compliant standards. PCIDSS Level 1 compliance is a set of rules stated by credit card companies and audited by an independent third party.

It is the highest possible rating one can get in the electronic payment processing industry. Additionally, all transmission to our banking partner and on our site is via an encrypted 256-bit HTTPS SSL connection.

Where is Piggyvest office in Nigeria?

Yes! We are located at Tesmot House, 3 Abdulrahman Okene Close, off Ligali Ayorinde, Victoria Island, Lagos.

Contact Number: 0700 933 933 933

Are my card details safe on Piggyvest?

Your security is our major priority, so we work with a PCIDSS-compliant payment processor, Paystack to handle your card details.
Your card details are extremely safe and are warehoused where they can never be compromised.

How secure is my money on Piggyvest?

As, we operated in partnership with 2 Microfinance banks and used their licenses. However, in early 2018, we acquired Gold Microfinance bank and its license. We are also a registered cooperative- Piggytech Cooperative Multipurpose Society Limited (Registration number, 16555).

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All saved funds are warehoused with and managed by AIICO Capital, the leading asset management company in Nigeria, registered and licensed by the Securities and Exchange Commission (SEC).

Do I have to login to my piggyvest account before I can safe my money?

No, everything is done automatically once you have set up your Autosave, except you want to top up your savings using the QuickSave option.
To keep track, all transactions on your debit card will be visible on your dashboard. We will also send an email receipt to you every single time you save with your card, and your bank will send you an alert as well. It’s 100% secure.

What happens if I don’t safe for some days, weeks or months in my piggyvest account?

We WON’T automatically debit your account if you missed any day, week or month and we WON’T charge you either. The QuickSave option is always available for you to manually make up for any lost day, week or month.

Can I pause and continue my piggyvest savings anytime?

Yes, you can, it is up to you to pause or continue the automatic saving any time for free. Login to your account, go to your Savings and select “Turn off Autosave” from the Piggybank savings option.

Can I increase my piggyvest savings anytime?

Yes, you can increase the amount you’re saving at anytime. Simply login and click ‘modify AutoSave instruction’, then edit the amount. You can also edit your frequency to either daily, weekly or monthly.

What if I don’t have funds in my bank account or debit card?

Simple! We will not be able to debit you for that day, week or month. We will only be able to save for you when you have funds in your debit card. However, you have the option to use the “Quick save” option once you have loaded your account.

In Piggyvest, what is quick save and how does it work?

This option basically enables you to add more funds to your savings. For example, if you set N1,000 daily and you miss a day or two, you can use the quick save option to deposit N2,000 or N3,000 at once. This is to ensure you meet up with your savings target.

You can add up to N500,000 at once with this option. However, you can add this multiple times in a single day. For instance, if you want to add N1,000,000, you need to add N500,000 twice.

What is piggyvest investify?

Investify is a PiggyVest feature that allows users to earn more on their savings by investing in pre-vetted, low-medium risk, primary and secondary investment opportunities.

Is my investment insured?

Yes, we make sure that each investment listing on PiggyVest comes with its own protection and coverage.

What is the minimum amount I can invest with in piggyvest?

Investment minimums vary by investment opportunities.

In piggyvest, what is the insurance coverage on the investment?

Insurance coverage varies by investment opportunities.

How can I fund my investment in piggyvest?

You can fund your investment using your debit card and Flex wallet.

How safe is my investment money in piggyvest?

All investment opportunities listed on PiggyVest are pre-vetted for maximum safety. We carry out due diligence on all investment partners.

In piggyvest, what happens to my capital in case of disasters?

All investment options aggregated on Piggyvest Investify have been properly vetted for insurance against loss. However, PiggyVest Extra Protection can be added to your investment for maximum capital safety.

How is my interest paid in piggyvest?

It varies on the opportunity you’re choosing to invest in. Your interest could be paid daily, monthly, quarterly OR at the end of the investment period into your PiggyFlex account.

Does extra capital protection cover both capital and profit?

PiggyVest Extra Capital Protection is an added layer of security provided by PiggyVest that ensures your capital is protected.

In piggyvest, is my investment taxed?

We don’t handle taxation. You, however, are liable to disclose your earnings and pay your taxes as stipulated by the government.

Can I liquidate my investment at anytime?

Yes, you can.

However, to liquidate, you will need to trade the units you have already acquired with other existing investors or potential new investors.

You set the price but a platform commission exists and it varies between 1% – 3% depending on the type of investment.

What interest do i get on my safelock?

SafeLock interests are prorated and paid for the duration you set.

On funds locked for:

  1. 10-30 days, the interest is calculated at 6% per annum and prorated for the duration you set.
  2. 31-60 days, the interest is calculated at 8% per annum and prorated accordingly
  3. 61-90 days, the interest is calculated at 10% per annum and prorated accordingly
  4. 91 days- 2 years, the interest is calculated at 13% per annum and prorated accordingly.
  5. 2 years and above, the interest is calculated at 15.5% per annum and prorated accordingly.

The minimum amount that may be kept in SafeLock is N1000.

In piggyvest, can i have more thank one safe lock?

es, you can have more than one SafeLock; and you can give them different names (purposes) too.

E.g. You can have a SafeLock for your Fees, Wedding; Birthday; Vacation etc.

Is the safe lock different from the normal savings plan?

Yes, your SafeLock is different from your normal savings plan. After initiating a SafeLock for a particular amount of money, your savings plan continues as normal.

It is completely under your control. You set the pace, duration and everything else concerning your SafeLock.

Can I add more funds to my safe lock?

Yes, you can. Simply ensure the duration of the existing locked fund is above 90days. Select the particular SafeLock, click on “Top-up” and enter the amount.

PS: You can only top up your safelock with funds from your Piggybank wallet. Your interest would be prorated and paid based on the remaining days.

How do I get my safelock paid back when the time is up?

Upon maturity, all funds that you have put in Safelock get sent to your Flex Naira wallet.

Can my safelock be unblocked before maturity?

No, funds can only be accessed upon maturity.

In cases where you may want to close your account completely, you’ll have to wait until funds mature from your SafeLock before you can liquidate.

What’s the maximum amount I can safelock?

The maximum amount per Safelock is #100m.

In Piggyvest, what is Target Savings?

With Target Savings, you are able to save consistently towards a particular financial goal. You can create a personal target or a Group savings challenge with your multiple users.

Save for your rent, vacation, a new gadget and even towards starting your new business with Target savings, and earn more money while at it!

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How can I activate or create a target savings?

  • Log in to your dashboard and click on the ‘Savings’ sign on the bottom pane of your dashboard.
  • Click on the ‘Targets’ option and then ‘Create a Target’.
  • Select the Target option you’d like, fill in the required fields and save the Target to activate it.

You can invite friends to join your Target at any time.

Can I break my Target savings at anytime?

Yes, you can.

Log in to your dashboard and select the ‘Target Savings’ option on your dashboard. Click on ‘Ongoing Targets’ and then select the target you would like to end. Select ‘Break’.

Funds will then be sent to your Flex wallet, and you will be able to access these funds.

However, if you break these funds before the maturity date, you will lose your accrued interest and also be charged a 1% processing fee. If you do not achieve the target amount by the maturity date, you will only lose your accrued interest.

P.S: You cannot break a locked target. Funds can only be accessed at the maturity date.

Do i get interests on piggyvest?


  1. 10% per annum on Piggybank
  2. Up to 15.5% per annum on SafeLock
  3. 10% per annum on Target
  4. 10% per annum on Flex
  5. 6% per annum on Flex Dollar
  6. Up to 25% on Investify

Kindly note that interest rates are subject to change at any time based on market conditions.

How is my interest paid on piggyvest?

  • Core Savings (Piggybank)- Interest is accrued daily on your balance, and paid monthly (available from the 1st of every month).
  • SafeLock- Interest is paid upfront into your Flex account and you can access it immediately for free.
  • Target Savings- Interest is accrued daily and is paid at the end of your target.

What if I don’t want interest in Piggyvest?

Users who do not want to earn interests on their savings can disable interests.

To do this, simply login to your account, go to Account >> My Account settings >> Interest settings >> Disable Interest on Savings >> Update settings.

How is piggyvest able to afford higher returns?

Our operational costs are relatively low – we do not operate multiple branches or hire a lot of staff to manage operations. We are also able to negotiate premium rates due to volumes.

All saved funds are warehoused with and managed by AIICO Capital, the leading asset management company in Nigeria, registered and licensed by the Securities and Exchange Commission (SEC) which is extremely safe and guaranteed. A portion of the proceeds is then passed on to users as interests on their savings.

What is Flex Naira in Piggyvest?

A Flex Naira account is a flexible savings wallet where interests earned on all other PiggyVest wallets are paid.

You earn an interest of 10% per annum on funds in your flex account but this is subject to a minimum of 4 withdrawals in a month.

If you withdraw more than 4 times a month from your Flex account, you lose all your accrued interest on your Flex savings for that month.

Additionally, you can fund your Piggybank, Target, Safelock, Flex Dollar or Investify using funds in your Flex.

On your free withdrawal days, you can also withdraw from your PiggyBank core savings to your Flex Account.

P.S: You can ONLY withdraw once every 10hours from your Flex account.

Can I withdraw from my Flex Naira account?

Yes! you can! And it’s absolutely FREE.

However, you can withdraw once every 10hours. This is for security reasons and to also encourage financial discipline of our users.

Can I transfer from my flex naira account to my piggybank, core savings?

Yes, you can! Simply click on “Use Funds” and then select the option to transfer back to Piggybank (core savings).

How can I fund my flex naira account?

To fund your Flex account, simply link your BVN to your Piggyvest account to get your unique Flex account number. Once this is done, log into your banking app, input this account number in the required field and select Providus bank as the recipient bank.

Follow through with the required steps for funds to be transferred from your bank account to your flex account.

What is flex dollar account?

Flex Dollar is a feature that lets you save, invest and transfer funds in Dollars.

How can I fund my flex dollar account in piggyvest?

You can fund your Flex Dollar account from your Flex Naira wallet or your bank card.

All you need to do is select an amount in Dollars you would like to purchase, then select a funding source and complete the transaction.

What is the minimum amount I can start with?

You can fund your Flex Dollar account with as little as $1.

Do I get interest on my dollar savings?

Yes! You get up to 6% per annum on your PiggyVest Flex Dollar account.

Interest rates are determined by the market behaviour at any given time.

How can I withdraw from my flex dollar account in piggyvest?

You can withdraw in Naira or Dollars. Withdrawing in Naira will be at the stated parallel market buy rate. When withdrawing in Dollars, the funds are sent to your Dollar-denominated domiciliary bank account.

Are there charges for withdrawing on my flex dollar account?

There are no charges for withdrawing into your Naira account from your Flex Dollar account.
However, payments into domiciliary accounts attract charges which are stated on the platform.

How is interest calculated on flex dollar account in piggyvest?

Interest on your Flex Dollars is accrued daily but paid monthly. You can get up to 6% per annum on the funds in your Flex Dollar wallet.

Interest is also compounded monthly.

Where are the dollar funds domiciled?

Flex Dollar funds are invested in dollar fixed term investments with Anchoria Asset Management, a division of VFD group. Anchoria Asset Management is licensed by The Securities and Exchange Commission (SEC), Nigeria.
Their investment products focus on capital preservation while providing income and asset class diversification.


Can I save with an international card?

No, not for now.

In Summary

If you are looking for a savings and investment platform in Nigeria, what comes to your mind is Piggybank and Cowrywise, but you may be in dilemma of which one to go for. However, you can check out our review on piggyvest so that you may make up your mind on which platform you need to save and invest your money with and I hope with our cowrywise review and piggyvest review, you will definitely make up your mind on which platform to go for.

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