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Is PiggyVest Legit or Scam in 2023 | All You Need To Know

Are you asking yourself, “Is PiggyVest legit or Scam?” Get the answers you need with this deep dive into the legitimacy of the platform.

PiggyVest (formerly piggybank) is an online savings and investment platform in Nigeria that gives everyone the opportunity to manage and grow their finances.

They aim at helping customers to save and invest money that they would normally be tempted to spend and offer between 7% to 13% on saving and up to 25% on Investment per annum

Really, with the number of watering interest packages they offer on their saving and investment plans, many have wondered if Piggyvest is legit or a scam.

As a real-time user, I was initially skeptical but considering the person that introduced PiggyVest to me, a highly respected person, I decided to give them a try.

It was initially a try but eventually, I was more than convinced beyond measure after spending more than 2 years saving and investing in different portfolios.

As of today, the company had grown to become one of the top saving and investment Apps you can rely on in Nigeria.

Checkout PiggyVest


Is PiggyVest Legit

PiggyVest is Legit and can be trusted, they are registered with the Federal Government of Nigeria and also operate as a  Microfinance Bank which is endorsed by the Central Bank of Nigeria.

PiggyVest has been in business since 2016 under the name “PiggyBank ” but changed to PiggyVest when they decided to expand their capacity by including a more robust investment plan.

As of today, PiggyVest is very popular with over 3 Million users across Nigeria and the Globe at large.

Piggyvest saving and investment opportunities are not only limited to Nigerians, if you are outside Nigeria, you can sign up and partake but you must also note that you must have an active Naira card/bank account.

Getting Naira virtual account is easy, you can simply do that through Wema Bank Virtual accounts called Alat 


PiggyVest current office located is in Tesmot House, 3 Abdulrahman Okene Close, Off Ligali Ayorinde St, Victoria Island, Lagos

With PiggyVest, you are sure of limiting excessive spending.

They also help you to save automatically Daily, Weekly, or Monthly towards a specific target OR lock away funds for a specified period of time.


Invest With PiggyVest


Is PiggyVest Approved By CBN

PiggyVest is managed by  AIICO Capital, a leading asset management company in Nigeria, registered and licensed by the Securities and Exchange Commission (SEC) 

All saved funds are therefore warehoused with and managed by AIICO Capital which ensures your savings or investment with PiggyVest is extremely safe and guaranteed.


Is PiggyVest Secure

PiggyVest uses a good level of Internet Security. Secured by 256 bits SSL security encryption, you rest assured that your information is completely protected from fraud. 

Also, in place is a Two-factor authentication (2FA) by default on all PiggyVest accounts, to securely protect you from unauthorized access and impersonation.


Can Piggyvest Crash

PiggyVest cant crash but even if it eventually does, your funds are saved as PiggyVest on its own has no access to your fund, all saved funds are warehoused with and managed by AIICO Capital.

In Addition, PiggyVest owns and operates the Gold Microfinance bank, a licensed Microfinance bank registered with the Securities and Exchange Commission (SEC).

They are also a registered cooperative- Piggytech Cooperative Multipurpose Society Limited (Registration number, 16555).   

All this ensures the safety of your fund in incase the worst happens for those who might be skeptical.

Notwithstanding, PiggyVest is simply legit


Who Owns PiggyVest

Odunayo Eweniyi is the Co-founder of PiggyVest. 

First launched as “Piggybank. ng” on the 7th of January 2016 as a savings-only platform but by April 2019 it was rebranded to “PiggyVest ” and expanded its services to begin offering direct investment opportunities to users in addition to savings.

And ever since, PiggyVest has been helping individuals alike to manage their finances with simplicity and transparency. 

There is no doubt, PiggyVest’s mission of ‘to give everyone the power to better manage & grow their finances’ is becoming a reality, especially with the number of customers in their database currently.


How PiggyVest Works

PiggyVest is a saving and investment platform and can be used to reach a financial goal

To get started, follow the steps below:

  • Create an account or simply sign in if you already have one
  • Click on the “Quick Save” button
  • Enter the amount you want to save 
  • Leave Destination to PiggyBank except if you want to save to other PiggyVest Saving Platforms
  • Select a payment method, whether by card or Transfer
  • It is by card, enter your card details and if you opt for transfer, transfer to the exclusive WEMA Bank account that will be provided.
  • After a successful saving into your PiggyBank wallet
  • You can decide to Safelock it for a specific period of time minimum of 3 months or use it to target a Goal Or better still, save in your Flex Naira or Flex Dollar
  • Whichever saving platform you choose, you can get interested of upto 13%
  • You can save daily, weekly, monthly, or anytime you want and you can as well decide to automate this task


Piggyvest Interest Rate

PiggyVest interest rates are subject to change at any time based on market conditions.

However, at the moment here are the PiggyVest Interest Rate

  • 8% per annum on Piggybank
  • Up to 13% per annum on SafeLock
  • 8% per annum on Target 
  • 8% per annum on Flex
  • 7% per annum on Flex Dollar
  • Up to 25% on Investment


PiggyVest Savings Plans

PiggyVest has five(5) saving opportunities you can utilize to start earning today

All are geared towards a saving option that can suit you

Below are PiggyVest saving plans:


This is a simple saving plan that allows you to save your money on a regular basis or with an interval straight from your bank account. 

When you save money on a piggybank wallet you can only withdraw once in three months. 

However, if you so wish, you can as well withdraw anytime you want for a small fee

Saving money on PiggyVest can be done automatically or manually from your bank account. 

The interest rate is accrued daily on your balance. 

Such interests are paid monthly which will be available on the 1st of every month.


Target Saving

This feature allows you to save consistently toward a financial goal. 

It could be for your house rent, tuition fee, buying a car, and opening your business. 

With a targeted plan, you could even invite your loved ones and your friends to join. 

Just as the name implies, the money will be released once the project money is matured. 

Target saving interest rate is accrued daily and is paid at the end of your target. 

Unlike core savings that pay interest monthly, target savings pay your interest which can be up to 8% at the end of your target.



This is a saving plan for people that are seeking to lock funds away for a long time. 

It is different from PiggyBank and Target Plans.

Think of it like your own customized fixed deposit account. 

The good news about Safelock is that it comes with a lot of saving interest. 

This simply means the longer it stays the more profit you get. 

The interest rate in SafeLock can be up to 13% per annum and is paid upfront into your PiggyFlex account. 

You can access it immediately for free anytime.


Flex Dollar

This saving plan was rolled out for PiggyVest users who want to save and invest in dollars. 

The flex dollar account comes up with an interest rate of 7% per annum. 

The feature also allows you to purchase a dollar with your naira account.

You can likewise withdraw your money to a domiciliary account for a small fee.


Flex Naira 

This feature allows you to save any amount of money and still get a chance to withdraw it at any time. 

It is just like your normal savings accounts but with much higher interest.

Flex naira also provides you with a digital account number so that you fund your PiggyVest from your account. With Piggyflex, you earn 10% per annum. 


PiggyVest Investment Plan

This is the PiggyVest feature that allows you to invest in Agriculture, Transport, Fixed Income, etc right from the app.

All investment opportunities are listed and each of these investments listed on PiggyVest comes with its protection before they are been shown on the platform. 

Funding your investment is done using your Debit card, Flex, and PiggyBank savings. 

All investment opportunities listed on PiggyVest are pre-vetted for maximum safety. 

Investment opportunities are only available at a certain period, so you need to be on the look to enjoy this offer one interesting thing about the PiggyVest investment plan, the interest rate can be up to 25% per annum.


How To Earn on PiggyVest

As a PiggyVest user, you can make money through the following means

1. First Time On PiggyVest

As a first-time user, if you sign up through this Link Here, you will get a 1,000 Naira bonus.

But you must note that you need to first activate your account by depositing at least 100 Naira or more to see this bonus.

2. Through Interest on savings

You can earn on PiggyVest through Interest on savings.

They have diverse savings platforms, each comes with an interest rate but on the whole, you can get up to 13% interest on your savings per annum

3. Through Investments

PiggyVest has various Investment opportunities you can take part and this cuts many industries across Transport, Agriculture, and a lot more.

The higher the amount you invest, the higher your ROI

Note: PiggyVest Investment opportunity is time-based, if you are interested, you need to keep eye on the offers 

4.  Referrals

One of the ways through which you make money on PiggyVest is through referrals.

The more you refer, the more you make money.

You make N1,000 for each person that signs up through your link.

5. Make money through Piggy points.

This is a way of rewarding users for saving consistently.

Either you save through Autosave or Quicksave on Piggyvest, you will be entitled to a points

These PiggyVest points are given every time you save on the platform.

The more you save, the more points you earn.

1 point =10 Naira. Accrued points can be converted into money. 

But note: You start to earn points when you save at least N2,000 at once in your Piggybank wallet directly from your debit card ONLY

Sign Up With PiggyVest


How PiggyVest Referral Works

One of the cool ways of making money on the platform is through referrals. The more you refer, the more money you make.

When someone signs up to PiggyVest using your referral link, you and the person you have referred each earn N1000, which is paid into your SafeLock. 

The 1,000 earned in the safe lock becomes unlocked once a confirmation transaction is done by the person you refer. Even though it is a transfer of 100 Naira.

Although the Affiliate program is not compulsory if you want to make money, it is advisable to start referring people.

People you refer eventually will thank you because everyone wants something that can help them save as well as make money.

  • Copy your referral link
  • Send a link to friends and family or post a link on social media channels
  • Once your friend signs up, you and your friend earn 1,000 Naira
  • This matures to your flex account after 10 days once the referred user is marked valid.


…read also:


Verdict On If PiggyVest is Legit or Not

PiggyVest is truly a savings and investment platform one should take a good look at.

Whether you are young or an adult, PiggyVest have savings and investment plan for you

It can help you cultivate the habit of saving alongside making money

Their savings plans attract up to 13% interest rate per annum and up to 25% or more on Investment saving plans.

They are indeed legit and can be trusted.

If you want to get started, sign up using the link below to get 1,000 Naira free money.

Note: If you are not using the link to sign up, you will not be entitled to the free money.

You also need to save at least 100 Naira to activate this deal

Signup To Earn N1,000 Today

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This Post Has 5 Comments

  1. Obiora Cletus

    Thank you so much piggyvest
    I can’t stop saving

  2. Sunday

    This post was really helpful,thank you so much


    Wow good to know on time I can now confidently save for my upcoming wedding

  4. Duke Eme Edem

    Thk u so much piggyvest but I have been trying to do quick save it’s not going can I have your number

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