If you’re looking for the best savings apps in Nigeria, search no more! This article will show you the 10 best money savings apps in Nigeria that will help you automate your savings and earn some interest on the process. Interestingly, some of these Savings apps make provision for savings in naira or dollars.

As more people look for simple and creative ways to save money, the use of savings apps has skyrocketed in Nigeria in recent years. These apps provide users numerous tools to manage spending, set financial objectives, and save money. I’ll show you the 10 best Saving Apps in Nigeria according to currency denomination, user interface, functionality, and security precautions. So, you can resort to any of these best saving apps in Nigeria if you intend automating your savings process.

Disclaimer: This content is strictly for informational purpose. Carefully evaluate the apps based on your specific needs, financial goals, and security measures before choosing ANY of these daily savings app.

What Is a Savings Apps & How Does It Work

A savings app is a mobile application that helps users save money by providing tools and features that promote good financial habits. These apps are designed to simplify the process of setting aside money, tracking expenses, and achieving financial goals.

A savings app also facilitates automated money saving processes. Many savings apps provide features like automatic savings transfers, where users can set up recurring transfers from their checking account to their savings account without manual intervention. This automation encourages consistent saving habits and eliminates the need for users to remember to save regularly.

Read: 10 Best Loan Apps in Nigeria – Features, Benefits & Drawbacks

How Do You Know a Best Savings Apps?

To determine whether a savings app is good or not, there are several things to look out for:

• User reviews and ratings: Look for user reviews and ratings of the app on reputable app stores or review websites. Pay attention to both positive and negative feedback to get a sense of the app’s strengths and weaknesses.
• Security and privacy measures: Check if the app implements strong security measures to protect your personal and financial information. Look for features like data encryption, two-factor authentication, and clear privacy policies.
• User interface and ease of use: The savings apps should have a user-friendly interface that is intuitive and easy to navigate. The app should provide a seamless experience and make it simple for you to access and use its features.
• Features and functionality: Consider the features offered by the app and whether they align with your savings goals and financial needs. Look for features like goal-setting, budgeting tools, expense tracking, automatic savings, and any other functionalities that are important to you.
• Integration with financial institutions: Check if the app integrates smoothly with your bank accounts or financial institutions. Seamless integration allows for automatic syncing of transactions, making it easier to track your expenses and savings progress.

See Also: How to Invest Money in Nigeria

Now, let us look at:

10 Best Saving Apps in Nigeria

The following are our top best Saving Apps in Nigeria:

PIGGYVEST APP

Piggyvest is one of the best savings apps in Nigeria  that offer users opportunity to invest, save money, and receive interest on their funds. Additionally, Piggyvest provides customers with the option to lock their money using the Safelock feature, which prevents them from accessing the money until the lock-in period has passed.

I use PiggyVest to save & invest securely. Sign up and get ₦1,000.00 to start your own savings journey .

Saving Features:

• AutoSave: Users can create automated savings plans with the autosave feature, allowing them to save money without ever realizing it. Users have the option to transfer money from their bank account to their Piggyvest account on a daily, weekly, or monthly basis via the app.
• Saving Challenge: Users of this tool can set savings goals and monitor their advancement towards achieving those goals. Users can establish daily, weekly, or monthly savings goals and receive incentives when they reach them.
• Piggybank: This feature enables users to save money towards specific goals, such as rent, vacations, or school fees. Users can set up multiple piggybanks and allocate funds towards different savings goals.
• SafeLock: This feature allows users to lock their savings for a specified period, ranging from 10 to 1000 days. Users earn higher interest rates on their locked funds, which can encourage them to save more.
• Flex Naira: This feature allows users to earn interest on their savings, with no restrictions on when they can withdraw their funds. Users can earn up to 10% interest per annum on their Flex Naira savings

COWRYWISE APP

Another popular and a good savings apps in Nigeria Cowrywise App. The app usually helps users save money and invest in mutual funds. It will also allow you to save daily small amounts of money at a competitive interest rates. Personally, I save and invest safely on Cowrywise, enjoying the best returns. Join me now by signing up on cowrywise.

Saving Features:

• AutoSave: Users can create automatic savings plans using this function, allowing them to save money without ever realizing it. Users have the option to transfer money from their bank account to their Cowrywise account on a daily, weekly, or monthly basis via the app.
• PiggyBank: Users can use the piggybank tool to save money for specific expenses like rent, trips, or tuition. Users can create many piggybanks and assign money to various savings objectives.
• Fixed Deposit:Users can invest their savings in fixed deposits using this tool and receive greater interest rates. Users have a range of tenure options, from 30 to 360 days.
• Autosave: Wealth Management: This feature allows users to invest their funds in different investment plans, such as mutual funds, stocks, and bonds. Users can choose from different investment plans with varying risk levels and potential returns.
• Group Savings: This feature allows users to save money with friends or family members towards specific goals. Users can create a group and invite others to join, and the app will manage the contributions and payouts

You can sign up now on cowrywise and start your savings journey

ALAT

ALAT is a digital bank that offers users various savings features, such as setting savings goals, creating sub-accounts, and tracking expenses. ALAT also provides users with a virtual debit card that can be used to make online transactions.

Features:

• Autosave: This feature enables users to save money automatically at set intervals. Users can choose to save daily, weekly, or monthly, and the app will transfer funds from their bank account to their ALAT account.
• Stash: This feature allows users to save money towards specific goals, such as rent, vacations, or school fees. Users can set up multiple stashes and allocate funds towards different savings goals.
• Goals: This feature enables users to set specific savings goals and track their progress towards achieving those goals. Users can set a target amount and a target date for each goal, and the app will calculate how much they need to save per day, week, or month to achieve the goal.
• Group Savings: This feature allows users to save money with friends or family members towards specific goals. Users can create a group and invite others to join, and the app will manage the contributions and payouts.
• SafeLock: This feature allows users to lock their savings for a specified period, ranging from 10 to 360 days. Users earn higher interest rates on their locked funds, which can encourage them to save more

KOLOPAY APP

KoloPay is a savings app that allows users to save money and earn interest on their savings up to 10%. The app also offers a feature called KoloGoals, which enables users to set specific savings targets and track their progress towards achieving those goals.

Features:

• Autosave: This feature enables users to set up automatic savings plans, so they can save money without even thinking about it. Users can choose to save daily, weekly, or monthly, and the app will transfer funds from their bank account to their Kolopay account.
• Kolopay Invest: This feature allows users to invest their savings in different investment plans such as Treasury Bills, Eurobonds, and mutual funds. Users can choose from different investment plans with varying risk levels and potential returns.
• Savings Groups: This feature allows users to save money with friends or family members towards specific goals. Users can create a group and invite others to join, and the app will manage the contributions and payouts.
• SafeLock: This feature allows users to lock their savings for a specified period, ranging from 30 to 365 days. Users earn higher interest rates on their locked funds, which can encourage them to save more.  See more on Kolopay website.

See: 5 Best Stocks to Buy/Invest in Nigeria

I-INVEST APP

I-Invest is a savings app that allows users to invest in various financial instruments such as Treasury Bills, Mutual Funds, and Eurobonds. The app also offers a feature called QuickSave, which allows users to save small amounts of money regularly.

Features:

• Easy Sign-up Process: The app has a simple and quick registration process that enables users to create an account and start investing within minutes.
• Nigerian Treasury Bills Investment: This feature allows users to invest in Nigerian Treasury Bills with a minimum investment amount of N100,000. Users can earn interest rates ranging from 3% to 14% depending on the tenure of the investment.
• Fixed Deposits Investment: This feature allows users to invest in Fixed Deposits with a minimum investment amount of N100,000. Users can choose from different tenures ranging from 30 to 360 days and earn interest rates of up to 12%.
• Automated Investment: This feature allows users to set up automatic investments, so they can save and invest money without having to do it manually.
• Flexible Withdrawal: This feature allows users to withdraw their investments before the maturity date, although there may be a penalty for early withdrawal.

FINT APP

FINT is a savings app that offers users various savings features, such as setting savings goals, creating sub-accounts, and tracking expenses. The app also allows users to invest in mutual funds and offers competitive interest rates on savings.

Features:

• Invest: This feature enables users to invest their savings in different mutual funds such as FBN Money Market Fund, ARM Money Market Fund, and Lotus Capital Halal Fund. Users can choose from different investment plans with varying risk levels and potential returns.
• Fixed Deposits: This feature allows users to invest their savings in fixed deposits and earn higher interest rates. Users can choose from different tenures ranging from 30 to 360 days.
• Save: This feature enables users to set specific savings goals and track their progress towards achieving those goals. Users can set a target amount and a target date for each goal, and the app will calculate how much they need to save per day, week, or month to achieve the goal.
• Withdrawal: This feature allows users to withdraw their savings or investment returns to their bank account at any time

SUMMIT APP

Summit is a savings app that helps users save money and invest in mutual funds. The app offers a feature called AutoSave, which enables users to save money automatically at set intervals.

Features:

• Invest: This feature enables users to invest their savings in different mutual funds such as FBN Money Market Fund, ARM Money Market Fund, and Lotus Capital Halal Fund. Users can choose from different investment plans with varying risk levels and potential returns.
• Fixed Deposits: This feature allows users to invest their savings in fixed deposits and earn higher interest rates. Users can choose from different tenures ranging from 30 to 360 days.
• Savings: This feature enables users to set specific savings goals and track their progress towards achieving those goals. Users can set a target amount and a target date for each goal, and the app will calculate how much they need to save per day, week, or month to achieve the goal.
• Interest Rate Comparison: This feature allows users to compare interest rates offered by different banks and financial institutions in Nigeria, so they can choose the best savings plan that suits their needs

CARBON

Carbon is a digital bank that offers various financial services, including savings features such as setting savings goals and tracking expenses. The app also offers a virtual debit card that can be used to make online transactions.

Features:

• Autosave: This feature enables users to set up automatic savings plans, so they can save money without even thinking about it. Users can choose to save daily, weekly, or monthly, and the app will transfer funds from their bank account to their Carbon account.
• Carbon Invest: This feature allows users to invest their savings in different mutual funds such as Vantage Balanced Fund and ARM Discovery Balanced Fund. Users can choose from different investment plans with varying risk levels and potential returns.
• Goals: This feature enables users to set specific savings goals and track their progress towards achieving those goals. Users can set a target amount and a target date for each goal, and the app will calculate how much they need to save per day, week, or month to achieve the goal.
• Free Credit Score: This feature allows users to check their credit score for free. Users can use the credit score to monitor their creditworthiness and improve their financial health.

RUBIES

Rubies is a digital bank that offers users various savings features such as setting savings goals, creating sub-accounts, and tracking expenses. Some of the app’s saving features include:

Features:

• Goals: This feature enables users to set specific savings goals and track their progress towards achieving those goals. Users can set a target amount and a target date for each goal, and the app will calculate how much they need to save per day, week, or month to achieve the goal.
• Autosave: This feature enables users to set up automatic savings plans, so they can save money without even thinking about it. Users can choose to save daily, weekly, or monthly, and the app will transfer funds from their bank account to their Rubies account.
• Invest: This feature allows users to invest their savings in different mutual funds such as FBN Money Market Fund and Stanbic IBTC Money Market Fund. Users can choose from different investment plans with varying risk levels and potential returns.
• Group Savings: This feature enables users to save money with their friends, family, or co-workers. Users can create a savings group and invite members to join. Members can contribute to the group savings plan and track their progress towards achieving the group’s savings goal

WEALTH.NG APP

Wealth.ng: Wealth.ng is a savings and investment app that helps users save money and invest in various financial instruments. Some of the app’s saving features include:

• Savings: This feature enables users to save money towards their financial goals. Users can set a target amount and a target date for each goal, and the app will calculate how much they need to save per day, week, or month to achieve the goal. Users can choose to save in Nigerian Naira or US Dollars.
• Invest: This feature allows users to invest their savings in different mutual funds such as ARM Money Market Fund and FBN Money Market Fund. Users can choose from different investment plans with varying risk levels and potential returns.
• Free Financial Advisory: This feature allows users to get financial advice from certified financial experts. Users can ask questions about investments, savings, and other financial matters, and get personalized advice from the experts.

Conclusion

What is the best app to save money in Nigeria? The ten best savings apps in Nigeria is what we’ve shown you above. They are daily savings apps. Carefully evaluate the apps based on your specific needs, financial goals, and security measures before choosing the app that best suits you. By doing so, users can ensure that they are making informed decisions about their finances and are using the app that best aligns with their financial goals.

Read: How to Make Money Online in Nigeria

Tips for your Savings Success

Once you’ve choose one of the above best savings apps in Nigeria to automate your savings,  some tips to help you achieve savings success include:

• Set clear savings goals: Define specific and realistic savings goals. Whether it’s saving for an emergency fund, a down payment on a house, or a dream vacation, having clear goals provides motivation and direction for your saving efforts.
• Establish a budget: To keep track of your income and expenses, create a budget. Decide where you can reduce wasteful spending and set aside a percentage of your salary for savings. To make sure you’re continually saving, adhere to your budget.
• Use Automated Savings: Utilize the automatic savings options offered by banks or savings apps to automate your savings. Regularly set up transfers from your checking account to your savings account. You’ll make steady progress without needing to make manual adjustments all the time if you automate your savings.
• Keep track of your spending: Keep a log of your spending to know exactly where your money is going. Use a straightforward spreadsheet or a budgeting application to keep track of your transactions. You’ll be able to identify places where modifications can be made to save more money if you regularly analyze your spending.

Having a question relating to the best savings in Nigeria, you can use the comment box below to ask.