PiggyBank Review is yet another Financial related review we shall be discussing in this article perhaps to let you know if piggy Bank is a scam or legit before investing your money and to also help you know exactly how piggy bank website works.
Has anyone talked about Piggy Bank and you’re wandering how exactly it works? Has anyone discussed it and you are still not convinced ? Let’s see how this piggybank review help solve your doubts and give you clear understanding about this money making and investment platform in Nigeria. As we continue with the review let’s see who/what is Piggybank.
Tables Of Contents
- 1 About PiggyBank Nigeria
- 2 How does Piggy Bank Works? (PiggyBank Review)
- 3 PiggyBank Review, what about Withdrawal from PiggyBank
- 4 You also Earn Points from Your PiggyBank savings
- 5 PiggyBank Referral Program
- 6 PiggyBank Review Is PiggyBank Legit or Scam?
- 7 How to Join PiggyBank
About PiggyBank Nigeria
Piggyvest.ng is a simple app that helps you save and invest with ease.
You can choose to save little amounts of money periodically (Daily, Weekly or Monthly) towards a specific savings target OR lock away funds for a specified period of time.
Piggybank.ng helps you stop excessive spending by letting you easily keep funds away that you will not like to touch.
it helps take away the stress by combining simplicity, discipline, convenience, and flexibility to enable you to manage your finances better and achieve financial freedom.
Just like it has been described above that’s all about Piggy Bank but you will also want to know how it works. having learnt it’s a savings App. and also to learn if they are scam or legit so let’s ride on.
How does Piggy Bank Works? (PiggyBank Review)
There are three different types of savings on Paggy Bank. This three account type have the sole aim of making you save your money with different features.
all the savings you make at first will be shown here automatically and the funds here can be withdrawn or moved to other savings accounts or can be left there while it generate interest.
Here you will decide when you want to use your money and you will be locked out of your funds till your desired date which you fixed. The more the days your funds are locked the higher your interest goes. E.g If you choose to safelock your funds for 200days you will not have access to withdraw or terminate the safelock till the days are completed.
You’re allowed to create as many safeLocks as possible e.g Safelocks for birthday, Weeding, School fees, Shopping, Flirts, Business, etc
The interest you get on your SafeLock depends on the duration of SafeLock as stated earlier
[10 days, 0.34% – 1000 days, 34%].
For ten days, any amount you SafeLock attracts an interest of 0.34% and for 1000 days, you get 36% interest. Annually, you get 13%. Interest is paid upfront to your Flex Account.
PS: the minimum amount you can SafeLock is N1000 and the minimum duration is 10 Days.
Target Savings account:
This saving wallet helps create multiple target or group savings account. Any money you save here generates 13% per annum and it’s been credited daily to your piggyflex account.
- From the above it’s clear Periodic or SafeLock savings earn more interests (While you earn 10% on other savings you earn 12.4% on SafeLock savings)
PiggyBank Review, what about Withdrawal from PiggyBank
You can withdraw your savings from PiggyBank bank anytime you wish based on your settings. Since you can’t withdraw funds that has been safelocked.
If you did not set your withdrawal option then PiggyBank will work with their default settings which only allow you to withdraw 4times in a year.
- 31st March
- 30th June
- 30th September
- 31st December
Any Withdrawal made by default outside the withdraw date will attracts 5% penalty fee.
The minimum amount you can withdraw from your PiggyBank account is 3000 naira and there’s no maximum to which you can withdraw.
You can only withdraw once in a day: If any withdrawal must be made then it should be after 24hrs.
You also Earn Points from Your PiggyBank savings
PiggyBank also gives Points to users when you save certain amount in your wallet. The more you save the more points your get which can be converted to cash for easy withdrawal.
How Do I Earn Piggy Points?
- For every N2000 to N4999 savings you will earn 1 point
- For Every N5000 to N9999 you will earn 2 points
- For every N10000 to N49999 you will earn 10 points
- For every N50000 to N99999 you will earn 25 points
- For every N100000 and above you will earn 55 points
1point = 10Naira. So the more savings you make the more points you earn which you can convert to cash.
PiggyBank Referral Program
Piggy Bank also have referral program which allows you to earn 500Naira when you referral make their first 1000naira deposit to their PiggyBank account.
hope you don’t miss our website-reviews-posts
To qualify for this referral program you need to have at least 3000naira in your main balance not in SafeLock or Target savings account. With this you will get your referral link working.
You can also earn more money by referring friends and families to use PiggyBank.
PiggyBank Review Is PiggyBank Legit or Scam?
Like i always say: A program isn’t labelled scam or legit by what they say about themselves but what others says about them.. If you search PiggyBank review or use other related terms you will definitely see what others are saying about them.
- First i searched Facebook to see PiggyBank Review and all was awesome.
- Again i search PiggyBank review on Nairaland to see what others have got there and all was awesome
- Furthermore, i search GooglePlaystoreto see what others are saying about their app and services and as usual it was awesome.
This this multitude can join and make progress then it’s certain PiggyBank is waoooo and real. so i needed to download their apps. Below is how to join piggy bank
How to Join PiggyBank
You can register directly from PiggyBank website or follow below instructions to register using PiggyBank app.
Search PiggyBank on Google Playstore or Download the app from this link
Install your App and Launch then it will show up as below.
Click on Create account button and fill in your details accordingly but in the referral phone or Code area put 08167817552
The next page will request your Gender, Relationship status, Date of birth etc. Fill in your details accordingly and finish your Signup. Then setup your bank
Fill in your bank accordingly and continue to your dashboard
Now you can make your savings, Target savings or add money to SafeLock. Keep rocking while you earn as described above.
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