Saving Apps: Let’s Compare Piggyvest vs Cowrywise Based on Users Preferences


With the emergence of saving and investing apps that offer delicious incentives to encourage savings, many Nigerians are now getting into the habit of setting aside a portion of their income for rewards in terms of interest or investment returns.

Savings apps are helping to sustain the culture of saving among Nigerians even in the face of a difficult macroeconomic environment.

While it takes self-discipline to save from an income that isn’t even enough, the apps make it easy by automating the process so that a particular preset amount is regularly deducted from the user’s bank account as savings.

Among the best applications in this category are little pig Y caurysageboth offer varieties of savings and rewards plans.

What do these two apps do differently, and which one does it better? Naijaonpoint looked at the features of these two apps, their offerings, consumer ratings, and what users are saying about them.

How to save

Piggy vest: Launched in 2016, Piggyvest has been helping its clients manage their finances with simplicity and transparency through their savings plans.

  • With over 1 million downloads on the Google Play Store, Piggyvest has different savings plans designed to meet the different needs of its customers.
  • Piggyvest offers different rates based on their different savings plans. The company offers an interest rate of 8% per year on its Piggybank savings plan and 8% on its Target savings plan, while promising up to 13% per year on its Safelock plan.

In the latest app update, Piggyvest introduced a new investment plan called Investify. According to the company, with as little as N1,000, you can invest in PiggyVest in areas that appeal to you, such as agriculture, real estate, transportation, and even commercial papers, and earn up to 100% return on your capital. depending on the type of investment/project, duration of the investment, etc.

Cowrywise: Launched in 2017, Cowrywise offers interest rate savings at recurring, fixed, and single rates. With this application, you can create your savings and investment portfolios and manage your money safely. It also allows you to save as an individual or with a group.

  • The highlight of Cowrywise is the friendly user interface and the ‘Savings Challenge’, which challenges you to participate in rigorous savings plans that help you build emergency funds or a better reserve of funds at the end of the specified period.
  • Application interest rates vary. Therefore, Cowrywise provides its users with a rate calculator that allows them to calculate their interest even before they start saving.

Ratings and Downloads: The Piggyvest and Cowrywise apps are available on the iOS App Store and Google Play Store. Both have registered a significant number of downloads and have also been rated by users based on their experience. This is how they stand:

Cowrywise app interface

Ratings and Downloads: The Piggyvest and Cowrywise apps are available on the iOS App Store and Google Play Store. Both have registered a significant number of downloads and have also been rated by users based on their experience. This is how they stand:


User Reviews: The Piggyvest and Cowrywise apps come in beautiful designs and both have simple user interfaces. However, beyond the looks, the user reviews of the apps on the Google Play Store and iOS App Store show the true experience of the platforms. This is what users are saying:

Piggyvest Review: For Praise Yusufu, who has been using the app for the past two years, the experience has been smooth, even though she wishes the interest rate on the platform would increase.

  • “I am very happy with this application. I have been using it since 2020 and have never looked back since. I have recommended it to so many friends and family and so far, no problem. I just wish the interest rate would be more than what is offered and flexible transfers would be re-enabled because it makes transactions easier. Overall, I like the app and definitely see myself using it long term.” she said.

Precious Sobamiwa is delighted with the app’s savings option and interest rate. Sharing her experience, she said:

  • “I use this app to save, it’s amazing. There are no monthly bank fees and you earn interest and coins when you save frequently. This app has really helped me start and maintain a culture of saving. Now, there is a new feature that allows you to save dollars. It is the best Although, the investment always runs out!!! Find out about that because I would love to invest.”
  • However, Henry Kemfert is concerned about the security of the app. According to her, “The application is good and the interest rate is fair. My problem is that the app is not secure. Shown in app to enable fingerprint lock but never activated once. Anyone can just take my phone and open the app and find out how much I’m saving, which is supposed to be a secret since it’s my savings. it’s like someone has access to my local savings account. Work on the security aspect of the app, it is very important.

Cowrywise Review: Nicholas Uchenna, says that he has not had any disappointment in the last 3 years that he has been using the Cowrywise app.

  • “I have been using Cowrywise for almost 3 years and I am never disappointed with their service and their constant improvements to make saving easy and fun. They have come a long way to prove themselves as a great financial institution, it is a great privilege to have accompanied them on this journey. And I look forward to more exciting projects in the future.” he said.

But the experience is not the same for Tunmise Tope, who grew frustrated after the app flagged his transaction.

  • “What a useless app, I send money to the normal account and then moved it to the hidden account because I wanted to send it to a friend using the same app, only to have my account flagged. Who sends you work? They said they noticed an unusual transaction. I have been sending messages to their customer support since last week, but they have not responded and even their call center number is not working,” he lamented.
  • Egbeyalo Motunrayo had the same experience with the app. According to her, “My account has been flagged for trying to transfer money to my bank account. Support has been silent, no replies. WhatsApp customer support line has been silent, I have filled out the form and still no response. Please rectify this immediately.”

… Saving Apps: Let’s compare Piggyvest to Cowrywise based on users preferences. Read more at… Naijaonpoint.




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