Saving money in Nigeria has become more accessible thanks to the rise of fintech apps designed to encourage financial discipline and growth.
These apps offer user-friendly interfaces, automation features, and competitive interest rates, making them ideal for individuals looking to save for emergencies, goals, or future investments.
Here are the 5 Money Saving Apps Nigerians can use in 2025.
1. PiggyVest
PiggyVest stands out as a pioneer in Nigeria’s digital savings space, launched in 2016 as Piggybank before rebranding. It’s one of the most popular apps, boasting over 5.5 million users by 2024, according to posts on X. PiggyVest allows users to save daily, weekly, or monthly through automated plans, with options like Piggybank for regular savings and Safelock for locking funds to earn higher interest up to 22% per annum upfront.
The app also offers Target Savings for specific goals like rent or education. Its affiliation with UBA Nigeria Plc and approval by the Central Bank of Nigeria (CBN) ensure security, while four free withdrawal days per year (with a 5% penalty otherwise) encourage discipline. PiggyVest is ideal for those seeking flexibility and high returns.
2. Cowrywise
Cowrywise, launched in 2017, is another top contender known for its seamless savings and investment options. It offers plans like Regular Savings and Savings Circles for group saving, with interest rates of up to 15% per annum on fixed plans of three months or more. Users can automate savings or deposit lump sums, starting from as little as ₦100, making it accessible to all income levels.
The app’s user-friendly interface and Savings Challenge feature help users build emergency funds or meet financial targets. Cowrywise is CBN-certified, ensuring safety, and its lack of withdrawal fees adds to its appeal for consistent savers.
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3. Kuda Bank
Kuda Bank, a digital-only microfinance bank licensed by the CBN, combines banking with robust savings features. With over 5 million downloads on the Google Play Store, it’s a trusted choice. Kuda offers Flexible Savings with up to 10% annual interest and Fixed Savings yielding up to 15% for locked funds. The Spend+Save feature automatically saves a percentage of each transaction, promoting effortless saving.
Kuda’s no-fee transfers and easy account setup within minutes make it convenient for everyday use. It’s perfect for those who want a blend of banking and saving without extra costs.
4. FairMoney
FairMoney, primarily known for lending, also provides solid savings options. Its savings accounts offer up to 10% interest per year, while the FairLock feature can yield up to 18% for locked funds (web ID: 14). Users can automate savings and access their funds via a smartphone, making it simple to build wealth. FairMoney’s integration of quick loans (starting at 2.5% monthly interest) alongside savings makes it versatile for users needing flexibility. Its accessibility on Android and iOS ensures broad reach, ideal for goal-oriented savers.
5. ALAT by Wema
ALAT, Nigeria’s first fully digital bank by Wema Bank, offers a reliable savings platform with up to 8.75% interest per annum—three times the standard bank rate. Users can set savings goals and automate deposits from home, eliminating the need for physical branches.
Its simplicity and tools for tracking spending make it a favorite for disciplined savers. ALAT’s digital-first approach suits tech-savvy Nigerians aiming for convenience and moderate returns.
Conclusion
These five best saving apps PiggyVest, Cowrywise, Kuda Bank, FairMoney, and ALAT offer Nigerians diverse ways to save money in 2025. Whether you prioritize high interest, automation, or flexibility, there’s an option for you. Always verify current rates and terms, as they may shift with market conditions.