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This post is all about Piggyvest vs Reaprite.

I have saved a lot of money through these two fintech apps, so I can say they are both awesome. But wait, what if you just want to stick to one for now? which one is the best choice for you?

This question will be answered in this post.

So enjoy…

About Piggyvest
https://www.piggyvest.com/?newref=1&ref=9e9e90bd460719

Piggyvest is one of the foremost fintech companies in Nigeria. Established in 2016, this is a saving and investment company that has lived up to the expectations of thousands of people across West Africa.

From my personal experience, I have not had any issues using the platform. The app is solid. It gives you comfort and a smooth experience, unlike some finance apps.

You can read about my full review on Piggyvest here. https://unleash.com.ng/piggyvest-review-best-app-to-save-and-invest-in-nigeria/

About Reaprite
https://app.reaprite.com/register/22660476

Reaprite is one of the rising savings and investment companies in Nigeria. Indeed, you can call it a Piggyvest alternative.

Reaprite is already gaining ground due to its juicy interest rate and other marketing strategies put in place by the company.

At first, I was sceptical to open another online saving app. It is enough that I have like 7 bank accounts (most are dormant). However, after I signed up to Reaprite, I understand the need to diversify my fund. Just like Piggyvest, the app is safe and sound. I’ve done a detailed review on Reaprite in my previous post. https://unleash.com.ng/reaprite-app-review-easy-saving-plus-1000-referral-bonus/

Savings: Piggyvest vs Reaprite
Right now, let’s go a bit deeper on the comparison between Piggyvest vs Reaprite. What is their savings plan all about?

Piggyvest Savings and Interest
Piggyvest has the following savings plan:

1. Piggybank
Ideally, this is where you will save your money in the Piggyvest app. Piggyvest allows you to save daily, weekly or monthly automatically from the bank card you provided. However, you don’t have to do auto savings but save manually instead. This is the option that suits my lifestyle.

Piggybank interest is 10% p.a.

You can withdraw 4 times per year. In addition, you can set your own next withdrawal date and not rely on their official date. To withdraw after using the whole 4 or before the withdrawal date attracts a fee of 2.5%.

2. Target
Target is for those who want to save towards a goal such as a car, school fees, vacations etc. Furthermore, under the Target category, you can choose either a private target, private group target or public group challenge.

Interest on Target is 9% p.a.

3. Safelock
Safelock allows you to save specific money for a period of time. This is another name for a fixed deposit account.

The interest rate here is 6-13% p.a depending on the duration.

The Safelock feature means that you can withdraw your funds when it matures.

4. Flex dollar
Flex dollar allows you to save in dollars to beat naira fluctuations.

The interest rate on Flex Dollar is 7% p.a. on Flex Dollar

5. Flex Naira
Flex naira is like a normal bank account. Money here can be withdrawn anytime. In addition, this account is where all your interests from any of the savings and investments plans are deposited.

Flex Naira interest rate is 8% p.a that is if you did not withdraw more than 4 times in a month

Reaprite Savings and Interest

Reapquick
Reapquick lets you save for as little as 500 naira for 3 months upward.

The interest rate is 12% p.a and it goes higher if you opt for a longer duration.

Reapplus
Reapplus is the next level of the Reaprite savings plan. Here, you can save at least 100,000 naira for 6 months upward.

Interestingly, the interest rate is up to 14% p.a.

Reapmax
Reapmax is for those who have a bigger financial muscle. With Reapmax, you can save 1 million naira minimum for at least 9 months. For saving this huge money, you enjoy 16%.

Reapgoal
Furthermore, there is Reapgoal. Reapgoal is like Piggyvest Target and it is for those who want to save towards a goal. For instance, I can save towards a house, car, school fees, vacation and so on. You can achieve this goal either personally called Personal Target or in the company of a group of people called a Village.

The interest rate on Reapgoal is 12% p.a.

Investment: Piggyvest vs Reaprite

Piggyvest Investment and interest
Piggyvest not only allow customers to save, but they also provide opportunities to invest. The investment opportunities cut across different industries such as agriculture, transport, real estate, finance and so on. For as low as 5000 naira, you can invest and the duration can be between 4 months and 18 months depending on the investment.

On the Interest part, it can be as high as 30% ROI.

The sad thing about Piggyvest investment is that all are sold out for a very long time. Therefore, one can say the company is more focused on Savings with little attention on investment.

Reaprite Investment and interest
Unfortunately, Reaprite currently does not offer any investment opportunities although the company claimed to offer both savings and investment services. Based on this information, one can expect Reaprite to start one very soon.

Final Verdict: Piggyvest vs Reaprite
Now we arrive at the conclusion of Piggyvest vs Reaprite.

On the savings angle, Reaprite beats Piggyvest in interest rate. For instance, while Piggybank is 10% p.a., Reapquick is at least 12% p.a. Also, Piggyvest Target is 9% while Reapgoal is 12%.

On the flip side, Piggyvest reduces this gap through what is called Piggy Points. With Piggy Points, customers get at least a point when they make a deposit of N2,000 upward. 1 Piggy Point is N10.

Investment wise, Piggyvest has an edge over Reaprite. Although all sold out in the Piggyvest app is the same as nothing at all.

Final Thoughts
No doubt, I love Reaprite for its higher interest rate, app interface and sign up bonus.

On the other hand, although the Piggyvest interest rate is lower than Reaprite, I can withdraw my money from Piggybank anytime by just adjusting the withdrawal date(subject to 4 times a year limit). This cannot be done in Reaprite unless I pay a 2% fee or wait till it matures.

Both apps offer N1000 referral bonus when you sign through these links:

Piggyvest Sign up.
https://www.piggyvest.com/?newref=1&ref=9e9e90bd460719

Reaprite Sign up
https://app.reaprite.com/register/22660476

https://unleash.com.ng/piggyvest-vs-reaprite/

Interesting thread...
I save with reaprite.. Interest rate dey help man for this inflation.

See my siggy to get started

Apt. Been using Reaprite since the beginning of the year.

Hmmm. Would love to try this. Is there a possibility of either apps having a "glitch"? What then happens to one's savings? Is there insurance coverage?

HRSweetness:
Hmmm. Would love to try this. Is there a possibility of either apps having a "glitch"? What then happens to one's savings? Is there insurance coverage?

Both fintech apps are duly registered in Nigeria. I do not see any glitch with your money since you can trust some commercial banks in Nigeria. You can read further online to be rest assured.
Apart from this, my advice is if you try anyone, please keep your password unique. Protect your money from your own end.

Worshipadika:
Apt. Been using Reaprite since the beginning of the year.

That's great! I knew about Reaprite quite late that is why my savings is more in Piggyvest. Overtime I plan to balance it by exploiting the benefits of both Apps

Jasonblu:
Interesting thread...
I save with reaprite.. Interest rate dey help man for this inflation.

See my siggy to get started

unleashtech:


Both fintech apps are duly registered in Nigeria. I do not see any glitch with your money since you can trust some commercial banks in Nigeria. You can read further online to be rest assured.
Apart from this, my advice is if you try anyone, please keep your password unique. Protect your money from your own end.

Many thanks.