Piggybank mobile app is a saving platform that helps its customers save. Economist believes that Savings equals investment. If people save their will be enough money to invest. For instance, if you can save a million Naira, that is enough to begin a business that will break even. Aside this, when you save, you can have money for various expenditures. Including unforeseen events and important items like buying a car, organizing your marriage or building a house. Piggybank is providing this opportunity for Nigerians as well as Africans to achieve their dreams by saving their hard earn money until it is needed.

The word Piggybank.ng, if it is looked at in the Nigeria context, is a container (kolo) which is used to save money for a time until it is needed. As a Nigeria, personally, I have used this kind of stuff to save money to buy stuffs during my secondary school days and so is many other Nigerians. This kind of service is what this financial technology company, Piggybank.ng is doing in Nigeria and it is the first of its kinds in Nigeria. PiggyBank.ng App can be downloaded on Play Stores. The App is free to download and free to sign up. You can also sign up via their website.

How does Piggybank.ng works?

After signing up on Piggybank.ng, you will need to fill in certain amount of money you want to save. You can save on a daily, weekly or monthly basis. The money will be automatically deducted from your bank account as you have requested. You have the option of saving manually with the quick save option. You can save any amount you want in this section. Further, you can lock up certain amount of cash on “savelock” option. If you do this for 1000 days, you will receive 34 percent interest rate upfront. That means, the interest will be added to your “savelock” cash immediately, and not until the completion of the 1000 days. The 34 percent interest rate amount to 12.41 percent per year.

PiggyBank.ng encourages discipline. So, you’re not expected to withdraw your money except on the date you choose or any of PiggyBank.ng four default withdrawer days in a year. If you need to withdraw cash urgently before the due dates then you must pay five percent breaking fees.

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https://www.technologywatch.com.ng/2018/07/piggybank-mobile-app-review-saving-platform-disrupting-nigeria.html

Very laudable app and easy to use..I started saving on the app about 2 months ago. Paystack powers it, so it’s a reputable venture

I tried using it several times. Firstbank don't support it. Not Just me, my friend couldn't use it as well. I deleted the app today.

Shey these guys won't run with someone's money? Cos I installed the app on my TECNO Spark2 and I'm just too afraid to start saving with them, make them no sky with my vas.

before downloading an app I check the reviews, and the reviews I'm seeing there isn't very encouraging
lots of complaints there.

Isn't this like what a normal banks does? only without the risks of "Running away with your money" and actually interests on your savings.

Idrismusty97:
Isn't this like what a normal banks does? only without the risks of "Running away with your money".

With the publicity all over twitter, I don't think you should worry yourself with the risk you mentioned. Again this guys have gone wide. They received more than 1 million dollars recently as equity fund from investors.

Saving money without interest,what advantage then does it have over conventional banking.
34,,%for three years when I can get better rate via fixed deposit
cowrywise is the best saving app with daily return on your savings

edewojames:

With the publicity all over twitter, I don't think you should worry yourself with the risk you mentioned. Again this guys have gone wide. They received more than 1 million dollars recently as equity fund from investors.

Oh they received $1m in funding. Yep! I don't have to worry about the risk because of "Twitter and $1m". Like Twitter or $1m can refund everyone savings in case of unforeseen circumstance. They is nothing special about this piggybank, It's just a bank with the prefix " Piggy" attached to it. If anything it is actually worst than a bank.

Save your money at your own risk, your bank dey there you no go ask for good savings plan. Another Ponzi scheme loading, MMM reloaded

Funny thing is that if something happens to your money... Who would u catch

[quote author=chuggy post=69591635][/quote]
Guys this stuff is no 419 or MMM things. Its real and internationally recognized. In fact, other African countries are buying into it. More so, the model was gotten from Developed countries like the USA.

sanandreas:
I tried using it several times. Firstbank don't support it. Not Just me, my friend couldn't use it as well. I deleted the app today.

This is odd, i use firstabank and piggy bank for 2 month, piggy bank were able to deduct from my firstbank seamlessly and when i needed my money back, they transfered the fund back to me. no issues

biggerboyc:
Save your money at your own risk, your bank dey there you no go ask for good savings plan. Another Ponzi scheme loading, MMM reloaded

its not becasue there is no benefit using them, i saved 50k with them and i recieved 50k back, only advantage is personnel savings till i have emergency,

another advantage is that piggbank offer more interest on saved money than banks, (this is optional). banks give 2.5% on fixed deposit for 3 month plan, while piggy bank gives 3% of fixed savings on 3 month plan.

Save the stress. And open alatbywema. Where u earn. 500 naira per referral. U can save like piggy bank. And they are reliable. Bekoz wema bank can't run away with ur ur money. All u need is the alat app. Sign up with my referral code. T4FQA1. http://alat.ng

PiggyBank kò Tyra Banks ni

lafuria1:


This is odd, i use firstabank and piggy bank for 2 month, piggy bank were able to deduct from my firstbank seamlessly and when i needed my money back, they transfered the fund back to me. no issues

Well I will redownload and see if it works. I even tried fidelity none clicked.

lafuria1:

its not becasue there is no benefit using them, i saved 50k with them and i recieved 50k back, only advantage is personnel savings till i have emergency,

another advantage is that piggbank offer more interest on saved money than banks, (this is optional). banks give 2.5% on fixed deposit for 3 month plan, while piggy bank gives 3% of fixed savings on 3 month plan.

What of when you have emergency and the website is no more loading? Or you decide to pay and it's saying server error. And many painful story. Note that piggy bank is a virtual bank. It can close anytime.

And Piggybank has an indemnity clause in their terms and condition. Should anything go wrong and they lose your money, they owe you nothing. I was planning on saving with them until I saw that.

I think I'll just buy T.Bills with about 11% interest in the secondary market for 90days.

Very useful app