Cowrywise and Piggyvest are two of Nigeria's most popular fintech companies that offer a range of services to help people manage their finances and achieve their financial goals. While both platforms offer valuable features and services, there are differences that may influence your decision.
Cowrywise is a Nigerian financial technology platform that provides a convenient platform for users to save money and invest in various asset classes. It offers different savings plans to meet individual needs, and provides users with access to different asset classes, allowing them to grow their wealth and potentially earn higher returns over time. Cowrywise also offers a range of investment plans that cater to different risk tolerances and investment preferences. According to the cowrywise founder Razaq Ahmed, they understand the importance of building a savings culture.
PiggyVest, on the other hand, is a Nigerian financial technology platform that aims to promote a savings culture and help individuals achieve their financial goals. It provides users with a convenient and secure platform to save money, and offers various savings options designed to cater to different savings goals. One of the key and outstanding features of PiggyVest is its automated savings feature, which allows users to set up automatic savings plans, where a specified amount of money is deducted from their bank accounts at regular intervals and transferred to their PiggyVest savings account. PiggyVest also offers target savings, which enables users to set savings goals for specific purposes, such as purchasing a car, going on vacation, or starting a business .
In terms of investment options, Piggyvest offers an investing option called Investify, which enables users to participate in low-medium risk primary and secondary investment opportunities that have been pre-vetted. Cowrywise, on the other hand, exclusively enables consumers to invest in Naira and USD mutual funds through its portal. It provides access to the most diverse range of mutual funds in Nigeria.
When it comes to interest rates, Piggyvest's normal savings plan has an annual interest rate of 8%, while its Safelock plan has an annual interest rate of up to 13%, and its Target savings plan has an annual interest rate of 8%, as does its FlexNaira plan. Cowrywise offers 10% on savings.
As for net worth, there is no publicly available information on the net worth of either company at this time. So if you're ready to put your money into something good I will recommend both platforms but depends on what you have and should be expecting based on time frame. Give us a share or comment to encourage us 💞💕