Top Savings Apps in Nigeria (2025): Best Options for Secure & High-Interest Savings

Saving money consistently is one of the biggest challenges for many Nigerians, especially with rising living costs and inflation. Traditional banks don’t always make saving easy — interest rates are low, account fees can eat into your funds, and the temptation to withdraw anytime makes it harder to stay disciplined.

This is why savings apps in Nigeria have become so popular. Over the past few years, apps like PiggyVest, Cowrywise, Kuda, and Opay have made it easier for Nigerians to save, budget, and even invest — right from their smartphones. These are often called “apps to save money and earn interest in Nigeria”, and they provide better returns than most bank accounts.

In this guide, we’ll cover:

• The top 10 savings apps in Nigeria

• Their interest rates, features, and pros/cons

• A comparison table to help you choose the highest interest savings app in Nigeria

• Which app is best for your savings goals

• How safe are these fintech platforms, and how to get started

By the end, you’ll know exactly which app fits your financial goals and how to start saving smarter.

Best Savings Apps in Nigeria (2025)

What Are Savings Apps & Why They’re Popular in Nigeria

Savings apps (also called money-saving apps in Nigeria) are digital financial tools that let you set money aside automatically while earning interest. Unlike traditional banks, they:

• Automate deposits so you save without thinking.

• Offer higher interest rates (8–15% vs. 2–4% in banks).

• Provide discipline through lock savings (you can’t withdraw until a set date).

• Simplify access — just a mobile app, no need for physical branches.

With Nigeria’s growing fintech adoption and the push for cashless transactions, these apps have become the go-to choice for millions of young professionals, students, and business owners.

Top 10 Savings Apps in Nigeria (2025)

1. PiggyVest Savings App (Interest Rates 2025, Pros & Cons)

• Overview: The pioneer of digital savings in Nigeria, trusted by over 4 million users.

• Features:

  • Safelock (lock funds for fixed periods, higher interest)

  • Automated daily/weekly/monthly savings

  • Investment opportunities in low-risk assets

• Interest Rates (2025): 8–13% annually

• Pros: High returns, reliable, strong security record

• Cons: Withdrawal restrictions unless you pay fees

• Best For: Salary earners, long-term planners

• Sign up for PiggyVest

2. Cowrywise App (Interest Rate 2025, Features & Review)

• Overview: SEC-regulated platform known for micro-saving and investments.

• Features:

  • Save as little as ₦100

  • Mutual fund investments are available

  • Lock or flexible savings plans

• Interest Rates (2025): 10–15% (depending on investment)

• Pros: Easy entry, investment options

• Cons: Some plans require a long lock-in period

• Best For: Students & first-time savers

• Join Cowrywise

3. Kuda Bank – Digital Savings & Budgeting App

• Overview: Nigeria’s top digital-only bank with zero fees and savings features.

• Features:

  • Spend + save automatically

  • Budgeting tools

  • Free transfers monthly

• Interest Rates (2025): 6–8%

• Pros: Banking + saving in one app

• Cons: Lower interest compared to PiggyVest or Cowrywise

• Best For: Salary earners & everyday spenders

• Open a Kuda Account

4. Opay Savings Account (Flexible High-Interest)

• Overview: Known for mobile payments, now also offering strong savings features.

• Features:

  • Flexible savings with instant withdrawals

  • Cashback offers on bills & airtime

• Interest Rates: 10%+

• Pros: Easy to use, fast access to funds

• Cons: Limited long-term plans

• Best For: People who want liquidity

• Download Opay

5. PalmPay Savings Wallet

• Overview: Wallet app with cashback + savings features.

• Interest Rates: 8–11%

• Pros: Rewards system, flexible withdrawals

• Cons: Not as structured for disciplined saving

• Best For: Everyday savers

6. FairMoney App

• Overview: Loan-first app with integrated savings.

• Interest Rates: 10%

• Best For: Those who need loans + savings option.

7. Carbon (Paylater)

• Overview: Known for credit, but also offers savings & investments.

• Rates: 9–12%

• Best For: Bill payments + savings in one place.

8. VBank

• Digital-only bank with solid savings options.

• 7–10% rates, NDIC-insured.

9. Moniepoint

• Popular with small businesses.

• 8–10% on savings.

10. Chipper Cash

• Cross-border payments + saving options.

• 7–9% rates.

Best Savings Apps by Category (2025)

• Best for Students: Cowrywise

• Best for Salary Earners: PiggyVest, Kuda

• Best for High Interest: PiggyVest Safelock

• Best for Liquidity: Opay, PalmPay

• Best All-in-One (Bank + Save): Kuda, VBank

Are Savings Apps in Nigeria Safe?

Yes, but it depends on the app.

• Many apps partner with CBN-licensed institutions.

• Cowrywise is SEC-regulated for investments.

• NDIC doesn’t cover all apps, but digital banks like VBank are insured.

• Safety tips:

  • Use only CBN/SEC licensed apps

  • Enable 2FA and secure your app with PIN/biometric

  • Avoid unverified apps claiming high interest

If you’re asking “Which is the safest savings app in Nigeria?” — PiggyVest and Cowrywise are the most trusted, while Kuda and VBank are safe for those who want full banking + NDIC coverage.

How to Start Saving with These Apps in Nigeria

1. Download your chosen savings app (PiggyVest, Cowrywise, Kuda, etc.)

2. Register & complete KYC (BVN, ID, etc.)

3. Choose a savings plan (flexible, fixed, investment)

4. Fund account via bank transfer or card

5. Automate deposits → sit back and watch savings grow

✅ Final Recommendation

• If you want the highest interest savings app in Nigeria, go with PiggyVest Safelock.

• If you’re a student or saving small amounts, Cowrywise is best.

• If you want banking + savings in one app, Kuda is your go-to.

• For flexibility & instant withdrawal, Opay and PalmPay shine.

👉 Ready to start saving?
Sign up for PiggyVest | Join Cowrywise | Download Kuda

FAQ – Savings Apps in Nigeria (2025)

Q: Which app is best for saving money in Nigeria?
PiggyVest is best for disciplined saving, Cowrywise for students, and Opay for flexible saving.

Q: Which savings app has the highest interest rate in Nigeria?
PiggyVest Safelock (up to 13%) and Cowrywise investments (up to 15%).

Q: Is Cowrywise safe?
Yes. Cowrywise is regulated by the SEC in Nigeria.

Q: PiggyVest vs Cowrywise — which is better?
PiggyVest offers higher fixed savings returns, while Cowrywise is better for micro-savings and first-timers.

Q: Can I withdraw money anytime from PiggyVest?
Yes, but only from flexible savings. Safelock funds can’t be withdrawn until maturity.