Which savings app offers the best interest rates in Nigeria in 2025?
- Piggyvest offers a Safelock fixed savings plan with interest rates between 14% to 20% depending on the duration.
- Cowrywise provides community-driven savings plans with interest rates ranging from 13.27% to 13.85% for various life goals.
- Fairmoney features a FairLock fixed deposit plan with competitive interest rates of up to 28% per annum.
The rise of fintech savings platforms in Nigeria presents a significant opportunity for individuals seeking higher returns on their savings compared to traditional banks. However, users must carefully evaluate the features and withdrawal policies of each platform to align with their financial goals and risk tolerance. The competitive landscape encourages innovation, but it also necessitates informed decision-making to avoid potential pitfalls associated with early withdrawals and interest forfeiture.
