PiggyVest Review: Advantages and Disadvantages of Using It in Nigeria (2025)

Are you thinking about saving or investing your money with PiggyVest in 2025? You’re not alone. Thousands of Nigerians, especially students, salary earners, freelancers, and small business owners are asking questions like: Is PiggyVest legit or a scam, what are the benefits of using PiggyVest in Nigeria, and are there any risks or disadvantages I should know about?

In this PiggyVest review for 2025, we’ll break down the real-life advantages and disadvantages of using PiggyVest in Nigeria, its features, how it works, interest rates, safety, and whether it's worth using to save and invest money.

What Is PiggyVest and How Does It Work?

PiggyVest (formerly known as PiggyBank.ng) is a digital savings and investment platform that helps Nigerians save money automatically, earn interest, and invest in verified opportunities.

Launched in 2016, PiggyVest has grown to become Nigeria’s largest savings and investment app, offering features like:

• Automated savings (daily, weekly, monthly)

• Fixed savings plans (SafeLock)

• Emergency savings (Flex Naira)

• Dollar savings (Flex Dollar)

• Short- and long-term investments (Investify)

With PiggyVest, you can lock your money to avoid spending temptation while earning up to 13% interest per year depending on the plan you use.

Is PiggyVest Legit in Nigeria?

Yes, PiggyVest is a legit savings and investment platform in Nigeria. It is registered with the Corporate Affairs Commission (CAC) and operates in partnership with regulated financial institutions.

PiggyVest also:

• Uses advanced bank-level security encryption

• Partners with AIICO Capital, a registered asset management company

• Has over 4 million users in Nigeria

• Has paid out billions in savings and investments

If you're wondering whether it’s safe to save your money on PiggyVest in 2025, the answer is yes, as long as you follow best practices and secure your login details.

Advantages of Using PiggyVest in Nigeria (2025)

Let’s take a closer look at the top advantages of using PiggyVest in Nigeria in 2025.

1. Helps You Save Money Without Stress

PiggyVest is perfect for those who struggle to save. With the automatic saving feature, you can set a daily, weekly, or monthly saving schedule. You no longer need to rely on self-discipline alone.

2. High Interest Rates Compared to Banks

While most traditional banks offer less than 3% interest, PiggyVest offers:

• 10% annual interest on savings

• Up to 13% on SafeLock

• 6%–8% on Flex Naira

• Up to 7% on Flex Dollar

You earn more on your idle money compared to keeping it in a regular bank account.

3. Multiple Saving Plans for Different Goals

PiggyVest gives you flexible saving options:

• PiggyBank: Automatic savings

• SafeLock: Fixed savings you can’t touch until maturity

• Flex Naira: Emergency funds with quick withdrawal

• Flex Dollar: Save in USD and earn interest

• Target Savings: Save towards a specific goal (e.g., rent, school fees)

4. Safe and Regulated Platform

PiggyVest uses secure encryption and only invests in low-risk opportunities. Your savings are insured, and all investments are in partnership with licensed financial institutions.

5. Easy to Use (App and Web)

The platform is available on both Android and iOS. The app is lightweight, simple, and doesn’t require advanced knowledge to use. You can also log in from any browser on your phone or laptop.

6. Free Withdrawal Dates and Instant Withdrawals

PiggyVest allows:

• Free withdrawals only on set withdrawal days (to build discipline)

• Instant withdrawal from Flex Naira anytime

• Withdraw to any Nigerian bank easily

7. Dollar Savings Feature

You can now save in US Dollars on Flex Dollar and earn interest in USD. This protects your savings from naira depreciation.

8. Low Minimum Entry

Start saving with as little as ₦50 or $1 on the app. You don’t need to have huge funds to start.

Disadvantages of Using PiggyVest in Nigeria (2025)

While PiggyVest has many pros, it's also important to know the disadvantages of using PiggyVest.

1. Withdrawal Restrictions Can Be Inconvenient

PiggyVest encourages discipline by limiting when you can withdraw. If you need urgent cash and it’s not your withdrawal date, you’ll be forced to either:

• Forfeit interest, or

• Use emergency Flex Naira savings instead

2. Interest Rates Are Not Fixed

Interest rates may change over time. What you earn on your Flex Naira or investment may vary, depending on economic conditions or platform updates.

3. No Physical Branch

PiggyVest is 100% online. Some users prefer face-to-face customer service. However, they offer live chat, email, and social media support.

4. Investment Risks (Though Low)

While investments on PiggyVest are verified, no investment is 100% risk-free. Market conditions can affect returns. Users must read each investment's terms before committing.

5. Limited to Nigerians

PiggyVest currently operates only in Nigeria. You need a Nigerian phone number, BVN, and bank account to register and use the platform.

How to Register and Start Saving on PiggyVest in 2025

Step-by-Step Guide:

1. Download the App

   • From Play Store (Android) or App Store (iPhone)

   • Or visit www.piggyvest.com

2. Sign Up

   • Enter your name, phone number, email

   • Set your password and verify your number

3. Link Your Bank Account & BVN

   • Securely connect your bank details to fund your wallet

   • Link your BVN for full access and security

4. Start Saving

   • Choose a savings plan (PiggyBank, SafeLock, Flex Naira, etc.)

   • Set how often and how much to save

5. Track Your Progress

   • Monitor interest, set goals, and withdraw when due

PiggyVest Review: Real Users' Experience in Nigeria

Many users report:

• Easier saving habits

• Surprising interest earnings

• Achieving financial goals like rent, school fees, travel

But some also complain about:

• Forgetting withdrawal dates

• Losing interest due to early withdrawal

• Not understanding SafeLock properly

Pro Tip: Always read terms before locking your money. Plan your withdrawals ahead to avoid penalties.

Frequently Asked Questions (FAQs)

1. Is PiggyVest approved by the CBN?

Yes. PiggyVest operates in partnership with CBN-licensed asset managers and microfinance banks.

2. Can I lose my money on PiggyVest?

No, your savings are safe. However, investments carry slight risk. Only invest in plans you understand.

3. How do I withdraw money from PiggyVest?

Use the app to transfer money from your wallet to your linked bank account. Flex Naira is instant; others have set dates.

4. Can I use PiggyVest without BVN?

No. You must link your BVN for identity verification and full account access.

5. Is PiggyVest better than a bank?

For saving and interest, yes. PiggyVest offers better rates and more savings tools than traditional banks.

Summary Table – PiggyVest Review in Nigeria (2025)

Final Thoughts on PiggyVest Review: Is It Worth Using in Nigeria 2025?

PiggyVest remains one of the best digital savings and investment apps in Nigeria for 2025. It helps Nigerians save automatically, earn better interest than banks, and build financial discipline.

While there are a few disadvantages (like withdrawal restrictions), the advantages of using PiggyVest far outweigh the downsides, especially if you’re focused on building good money habits.

If you’re serious about growing your finances, PiggyVest is a safe, simple, and rewarding platform to start with today.