At Piggyvest, we’re all about helping you grow your savings and achieve financial security. That’s why in line with the recent change in the monetary policy rate, we’re excited to announce even higher interest rates across Safelock and HouseMoney™ wallets! Now, you can earn up to 20% interest per annum on your savings — giving you more rewards for every naira you set aside.
This article covers what’s new, why these rates matter, and how to maximise your returns today.
What’s new?
Starting November 1, 2024, whether you’re an existing Piggyvest user or just joining us, you can unlock even bigger returns on your savings with our updated rates. These updated rates will help you get the most out of your funds in Safelock and HouseMoney™ and help you grow your savings faster.
How do PiggyVest interest rates work?
PiggyVest interest rates are dynamic and influenced by the Central Bank of Nigeria’s (CBN) Monetary Policy Rate’s (MPR) changes. In the video above, Odunayo Eweniyi (PiggyTech COO and co-founder) breaks down exactly how we calculate interest on your savings.
Why should you use Safelock?
Safelock is a fixed savings plan that offers a completely safe way to put aside money you don’t need immediately — our version of fixed deposits. It’s specially designed to defeat temptation, and you can rest assured you won’t have any access to your money for a fixed period you set.
What’s more, you get your interest upfront — giving you financial stability and a sense of security. However, it isn’t just another savings product — it’s your ticket to disciplined saving with maximum returns.
Level Up Your Money Game At The Zikoko x Piggyvest Naira Life Conference This August!
Here’s why Safelock is the smart choice for both seasoned savers and new users:
- Upfront interest: Get your interest immediately after locking your funds.
- Unmatched returns: The longer you lock your funds, the higher the interest rate you enjoy. With rates as high as 20% yearly, your savings can grow significantly over time.
- Truly customisable savings: Choose any period from 10 to 1000 days.
- Zero temptation: Once locked, your money stays safe until maturity.
But what exactly is an ideal savings period on Safelock?
Well, here’s a handy guide to follow to make the most of Safelock:
- 10 to 90 days: Perfect for short-term goals like envelope budgets and gadget purchases.
- 91 to 270 days: Ideal for medium-term plans like school fees.
- 271+ days: Best for long-term dreams like wedding plans.
HouseMoney™ is a renter’s best friend
We designed HouseMoney™ with renters in mind. It’s a flexible savings option that allows you to steadily grow your funds while preparing for significant living expenses — rent payments and utility bills.
With the new interest rate of 14% per annum, HouseMoney™ makes it easier to:
Piggyvest Makes CNBC’s List of World’s Top Fintech Companies 2025
- Enjoy better returns. Earn competitive interest (paid monthly) while building your fund.
- Save at your pace. Enjoy flexibility and withdraw when your rent is due.
- Enjoy peace of mind. Your money is safe with Piggyvest; you can access it when you need to pay rent.
How can these new Piggyvest interest rates benefit you?
Our new rates open up more possibilities for you — even if you’ve never used Safelock or HouseMoney™.
Here’s how the new Piggyvest interest rates can make a difference to your finances:
- Accelerate your financial goals. Higher rates mean you reach your goals faster. Whether it’s saving for a car, your dream home, or even an emergency fund — these returns help you get there sooner.
- Earn more while saving less. With rates as high as 20% per annum, you can achieve the same growth with smaller deposits. This frees up more cash for other expenses or investments.
- Enjoy peace of mind. Knowing that your savings are working for you — and growing at a competitive rate — means less financial stress and greater freedom to focus on other life priorities.
How to get started with PiggyVest
Are you new to PiggyVest? Well, welcome to the better way to save and invest with ease in Nigeria!
Here’s how to get started with PiggyVest and enjoy sweet returns:
How To Use Pay With Pocket When Ordering On FoodCourt
- Download the PiggyVest app.
- Sign up in minutes.
- Pick your preferred savings and investment option.
- Start earning impressive returns.
Already with us? Simply log in and start saving with our new rates!
Tips to maximise your returns on Piggyvest
Anyone can use PiggyVest — but there’s a “right” way to make the most of your savings.
Here are some handy tips to make the most of your PiggyVest account:
- Set clear goals. Before choosing a wallet, define your financial goals. This way, you can pick the PiggyVest product that best supports your needs, whether it’s Safelock for a big project or HouseMoney™ for rent savings.
- Combine products. Go all out! Use both Safelock and HouseMoney™ for optimal returns.
- Save consistently. Remember that regular savings equal compounded earnings. So, make saving a religion.
- Go longer with Safelock. The longer you Safelock, the higher the interest rate. If you have funds you won’t need right away, consider locking them for a longer period to maximise your earnings.
- Leverage compound interest. Use the power of compound interest to grow your money over time. Consider extending your Safelocks or tapping into Flex Naira to keep your money working.
Start earning more today!
So, what are you waiting for? Don’t miss out on these exciting new rates! Try Safelock today to see how much your savings can grow, or open a HouseMoney™ account to start preparing for rent stress-free.
Remember: with Piggyvest, you’re not just saving — you’re setting yourself up for a brighter financial future. Good luck!
