Cowrywise vs Piggyvest (Which of these savings platform is better?)

Cowrywise vs Piggyvest (Which of these savings platform is better?)

Cowrywise vs Piggyvest (Which of these savings platform is better?)

Read all about Cowrywise vs piggyvest.

Cowrywise vs piggyvest


Fast-rising financial Fintech companies such as Cowrywise and Piggyvest have positively impacted the lives of so many Africans in need of financial help by helping them save and invest their money over the past few years.

Although both platforms are legitimate Fintech companies that are gaining fast popularity and extensive use, they do have major differences.

This article will shed as much light as possible and highlight these differences and assist you in determining what will work best for you between Cowrywise and Piggyvest.

Let’s get started…

Read my Piggyvest review

Looking far back at history: Cowrywise

CowryWise is a Lagos-based financial technology and financial services startup formed in July 2017 by Razaq Ahmed and Edward Popoola.

The organization has partnered with Meristem Trustees and has processed over $1.5 million in savings for its consumers since its inception in 2017.

The firm has been providing Africans with secure access to savings and investment products through digitizing investment management and are fostering a savings and investment culture among the African middle class and millennials, who are becoming increasingly underserved.

Looking far back at history: Piggyvest

PiggyVest is West Africa’s first online “Savings & Investment” app. On the 7th of January 2016, Joshua Chibueze established “” as a savings-only platform.

For three years, they solely gave their users a savings feature. Then, in April of 2019, Piggybank changed its name to “PiggyVest” and began providing consumers direct investment opportunities in addition to savings.

After 5 years, Piggyvest has continued to provide exceptional service to its 1,000,000+ consumers, assisting them in managing their finances with ease and transparency. Every month, its users save and invest billions of Naira that they would have spent otherwise.

Cowrywise savings plans

Cowrywise have 4 different savings plans, they are automated, have better interest rates than banks and you will reap the full benefits. There are no repercussions. There are no charges. It’s completely free.

Below are the plans:

1. Regular Savings

For a minimum of three months, save money on your terms with an interest rate of 10-15 percent per annum and you will get paid well for your perseverance.

2. Life Goals

Long-term planning for life’s most essential goals. A minimum of one year is required, with incredible results.

3. Halal Savings

Save money with or without automation, free of riba, absolutely interest-free. Suitable for Muslims who do not want interests.

4. Saving Circles

This plan will let you set goals for yourself and collaborate with others to achieve them. You can expect juicy profits.

Piggyvest savings plans

Just like Cowrywise, Piggyvest also has 4 different saving plans that let you enjoy big profits.

Below are those 4 savings plans:

1. Default Savings

Save on a regular basis, either automatically or manually. You can also save on your own terms as you go. Choose how you want to save because you are the ruler of your savings.

2. Safelock

Stay away from temptations and keep your money safe.

Safelock allows you to save money for a predetermined length of time and not have access to it until it reaches maturity. It’s as if you had your own personal fixed deposit.

3. Target Savings

Do you have a savings goal for yourself? Are you saving up money for a new phone? Is it your father’s surprise birthday? A new car and a memorable vacation? Target Savings makes it simple and quick to achieve all of your savings objectives.

4. Flex naira

Increase the amount of money in your emergency fund! Emergencies may occur at any time.

Building an emergency fund in Flex Naira will help you stay ahead of the game, allowing you to avoid borrowing or additional financial strain in the event of a disaster. The best part is that you get interests.

Cowrywise VS Piggyvest: Investing

Piggyvest offers an Investify investment option. It allows you to invest in low-medium risk primary and secondary investment opportunities that have been pre-vetted. There are no hidden fees or charges.

You can start investing in numerous industries, such as fixed income instruments, agriculture, and transportation, with a minimum of N5,000.

Customers on Cowrywise, on the other hand, can only invest in Naira and dollar mutual funds. It has the greatest selection of mutual funds in Nigeria.

Cowrywise VS Piggyvest: Interest rate

Piggyvest’s normal savings plan has an annual interest rate of 8%, while its Safelock plan has an annual interest rate of up to 13%, and its Target savings plan has an annual interest rate of 8%, as does its FlexNaira plan.

Cowrywise on the other hand offers a dynamic interest rate on its savings plans. But the interest tends to be around 5% to 12%.

While interest rates are for its mutual fund’s investments differ. You’ll have to check their offerings to see your preference.

The headlock: Which platform is the best?

I think it is safe to say that both Cowrywise and Piggyvest are great platforms in terms of managing users’ money and allowing them to invest for juicy profits in return.

In terms of savings programs, both platforms offer equal interest rates. They only differ in their investment plans.

Cowrywise only allows you to invest in mutual funds, which often have modest interest rates. Piggyvest, on the other hand, provides superior investment opportunities with a remarkable interest rate of up to 25%.

Read my Cowrywise review


Both platforms are good, it greatly depends on you which one you choose to manage your money and invest on.

But I think in terms of interest rates, Piggyvest is slightly superior to Cowrywise, if you have any other questions – do not hesitate to leave them below.

If you require assistance in using one of the platforms this comparison is between, let me know maybe I can be of help.


Thank you for reading my post on Cowrywise vs piggyvest. If you have any question or comment, you can leave it below in the comment section below.

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