Piggyvest and Cowrywise saving apps have come to stay with the former being more popular and it’s no longer news what these platforms are use for.
After getting to know about these platforms, one question often cross the mind: “How much can one make from Piggyvest or Cowrywise?” That’s if you actually want to make money from them.
In this article, we will make it clear on how much one could make through “Savings” or “Investment” features from either Piggyvest or Cowrywise.
To know this we will compare the interest rate of both platforms.
Let’s first look at Piggyvest.
How much can You Make from Piggyvest “Savings” and “Investment”?
Piggyvest offers an interest rate of 10% to 15% on “Savings” and up to 25% on “Investment” per annum. That’s to say if you save 100,000 naira for a year you’ll get an interest of 15,000 naira. Remember the “Savings” feature allows for withdrawal at any time with a 5% fee.
While investing your money using the “Investment” feature you can get up to 25,000 naira investment after a year that’s 25% of 100,000 naira.
Now, let’s look at Cowrywise.
How much can you make from Cowrywise?
Cowrywise gives you a 10% interest rate per annum and the interest rate can increase to 15% when you keep yur money for a longer period.
The minimum amount you can save with Cowrywise is 1,000 naira and there is upper boundary as to what you can save.
Another thing on both platforms is, you can leave your money with them for as long you want and on Cowrywise the minimum saving period is 90 days.
Between Piggyvest and Cowrywise which one has a better Interest Rate?
Both platforms seem to give the same return on “Savings” with Piggyvest edging when it comes to its “Investment” plan,
You should also know that the interest rate can be higher when you leave your money on either platform for a longer time.
In any case, the 10% interest rate is 2 times better than the 4.2% interest rate given by banks.
As you can see, this is not one of those get-rich-quick programs in fact, saving on these platforms isn’t going to make you rich or make you much money. But if you have stash money somewhere that you don’t plan on using anytime soon you can put them on these platforms and generate interest over time.
Click HERE to sign up with Piggyvest.
Click HERE to sign up with Cowrywise.
That’s it with our Piggyvest and Cowrywise interest rate comparison. At least you now know what to expect when saving or investing on these platforms.
Don’t forget that the primary purpose of these platforms is to help you save money, control your spending urge or save money to reach a target.
You can click here to explore Piggyvest features and how piggyvest help you to save money.
Now, back to the interest rate, what do you think about the return is it too small or it’s worth the investment?
Please use the comment box.