Home Finance Is Piggyvest legit? Is Piggyvest Approved by CBN? How Does Piggyvest Work?

Is Piggyvest legit? Is Piggyvest Approved by CBN? How Does Piggyvest Work?

Piggyvest has been gaining popularity as a reliable and convenient savings and investment platform in Nigeria. But with so many scams and fraudulent activities happening in the online world, it’s natural to wonder – Is Piggyvest legit? Is it approved by the Central Bank of Nigeria (CBN)? And if so, how does it work? 

In this blog post, we’ll delve into these questions and provide you with all the information you need to know about Piggyvest’s legitimacy, CBN approval, and how the platform operates. So, if you’re considering using Piggyvest or just curious about its authenticity, keep reading to learn more.

Key Features and Benefits of Using PiggyVest

PiggyVest offers a range of key features and benefits that make it a popular choice for Nigerians looking to save and invest. Here are some of the highlights:

  1. Automated Savings: PiggyVest allows you to set up automated savings plans, making it easy to consistently save a portion of your income without any effort.
  2. Investment Options: The platform offers various investment opportunities, including agriculture, real estate, and fixed-income investments, allowing you to diversify your portfolio.
  3. Safe and Secure: PiggyVest prioritizes the safety of your funds. They use bank-level security and partner with secure payment processors to ensure that your money is protected.
  4. High-Interest Rates: PiggyVest offers competitive interest rates on savings and investments, allowing you to grow your money faster than traditional savings accounts.
  5. Flexible Withdrawals: You can easily withdraw your funds from PiggyVest at any time, making it convenient and accessible whenever you need your money.

By taking advantage of these key features and benefits, PiggyVest provides a reliable and convenient platform for saving and investing, helping you to achieve your financial goals.

Is Piggyvest Legit?

Yes, PiggyVest is a legitimate and reputable financial platform that allows users to save and invest their money. It is regulated by the Securities and Exchange Commission (SEC) in Nigeria and uses bank-level security to protect its users’ funds. PiggyVest has been operating since 2016 and has helped over 4 million customers achieve their financial goals.

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Is Piggyvest Approved by CBN?

Yes, Piggyvest is approved by the Central Bank of Nigeria (CBN). The platform operates under the regulatory framework of the Security and Exchange Commission (SEC) as well. This means that Piggyvest has met the necessary requirements and regulations set by these governing bodies to ensure the safety and legitimacy of its operations. 

With these approvals in place, you can have peace of mind knowing that Piggyvest is a trustworthy and legitimate platform for your savings and investments. So, you can confidently use Piggyvest to achieve your financial goals without worrying about its legitimacy or regulatory compliance.

How Does Piggyvest Work?  

Curious about how Piggyvest works? Here’s a breakdown of how this popular savings and investment platform operates:

  1. Sign-Up: To get started, you need to create an account on the Piggyvest website or mobile app. It’s a simple process that only requires basic information.
  2. Set Goals: Once you’ve signed up, you can start setting financial goals. Whether it’s saving for a vacation, buying a car, or investing in a business, Piggyvest allows you to set specific goals and track your progress.
  3. Save Automatically: Piggyvest offers automated savings plans, allowing you to save a portion of your income effortlessly. You can set a specific amount to be deducted from your bank account at regular intervals.
  4. Invest Wisely: The platform provides various investment options, such as agriculture, real estate, and fixed income investments. You can choose the investment type that aligns with your goals and risk appetite.
  5. Earn Interest: Your savings and investments on Piggyvest earn competitive interest rates. This means your money grows faster compared to traditional savings accounts.
  6. Access Your Funds: If you need to withdraw your funds, Piggyvest offers flexible withdrawal options. You can easily transfer money back to your bank account whenever you need it.
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Overall, Piggyvest simplifies the savings and investment process, helping you achieve your financial goals with ease. So why not give it a try and see how it can work for you?

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FAQS

How does PiggyVest work?

PiggyVest is an online savings and investment platform that helps Nigerians save and invest money. It offers a variety of savings and investment options, including:

  • PiggyBank: A flexible savings plan that allows you to save any amount automatically, daily, weekly, or monthly. You can also earn up to 10% per annum interest on your savings.
  • Target: A goal-based savings plan that helps you save for specific goals, such as a car, house, or vacation. You can set a target amount and a savings timeline, and PiggyVest will automatically deduct the required amount from your account each month.
  • Safelock: A lockbox savings plan that prevents you from accessing your funds for a specified period of time. This can be a good option if you want to save for a long-term goal and avoid temptation.
  • Flex Dollar: A USD savings account that allows you to save in US dollars.
  • Investify: An investment platform that offers a variety of investment options, including mutual funds, ETFs, and stocks.

How much is the interest on PiggyVest?

The interest you earn on PiggyVest depends on the savings or investment plan you choose. Here is a breakdown of the interest rates for each plan:

  • PiggyBank: Up to 10% per annum
  • Target: Up to 9.5% per annum
  • Safelock: Up to 15% per annum
  • Flex Dollar: Up to 3.5% per annum
  • Investify: Varies depending on the investment option you choose

How trusted is PiggyVest?

PiggyVest is a licensed and regulated financial institution in Nigeria. It is also a member of the Nigeria Deposit Insurance Corporation (NDIC), which means that your deposits are insured up to ₦500,000 in the event of the failure of the company.

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PiggyVest has a strong reputation for security and transparency. It uses industry-standard security measures to protect your data and transactions. It also publishes its audited financial statements on its website.

Does PiggyVest have a deposit limit?

The maximum amount you can deposit into your PiggyVest account depends on the plan you choose. Here are the deposit limits for each plan:

  • PiggyBank: No deposit limit
  • Target: No deposit limit
  • Safelock: Maximum deposit of ₦100,000 per transaction
  • Flex Dollar: Maximum deposit of $10,000 per transaction
  • Investify: Maximum deposit of ₦500,000 per transaction

How much is 10 points on PiggyVest?

PiggyVest points are a reward system that allows you to earn points for certain activities, such as referring friends and family, making savings contributions, and investing. You can redeem your points for discounts on PiggyVest products and services.

The value of a PiggyVest point varies depending on the activity you earn it for. However, 10 points is typically worth around ₦10.

Conclusion

After reviewing the key features and benefits of using PiggyVest, its legitimacy and approval by the CBN, and how the platform operates, it is clear that PiggyVest is a trustworthy and reliable savings and investment platform in Nigeria. With over 3 million users and positive reviews, PiggyVest has built a solid reputation in the industry. It operates under the regulatory framework of the Security and Exchange Commission (SEC) and has robust security measures in place to protect your funds. By offering automated savings, various investment options, competitive interest rates, and flexible withdrawals, PiggyVest provides a convenient and accessible platform for achieving your financial goals. Give PiggyVest a try and see how it can help you easily save and invest.

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