Best 5 Savings Apps in Nigeria in 2025

When I was a child, I used to stash my cash in an old textbook on our bookshelf. What that meant was the amount of money I left there wouldn’t change if anyone didn’t take it. My capital was not earning any interest but at least, I was still saving it. 

Nowadays, technology has changed how we go about saving money. I think my favorite part is the fact that one does not need to visit a bank to open a savings account. With your mobile phone, you can easily set up a savings account and manage your personal finance too. This is where savings or personal finance apps come in.

Savings apps help you save money while earning an interest. Thus, this article will focus on 5 best savings apps in Nigeria. Moreover, I will discuss tips for selecting the best savings app for you. Let’s get to business!

Top 5 Savings Apps for Nigerians

Savings apps help you save money easily and effectively. These apps allow you to create savings goals, track your progress, and even earn interest on your savings. They make saving money simple by automating the process and offering useful features like reminders and budgeting tools.

In Nigeria, many people use savings apps to manage their finances better and achieve their financial goals. Let’s look at the top 5 savings apps that can help you save more:

1. Piggyvest
2. Cowrywise
3. Renmoney
4. Kuda
5. FairMoney

1. Piggyvest

Piggyvest is a popular savings app in Nigeria that helps you save money and invest. One of its best features is the automatic savings plan, where you can set a fixed amount to be saved daily, weekly, or monthly. You can also create specific savings targets for things like vacations, house rent, or school fees.

Piggyvest offers attractive interest rates that are much higher than traditional savings account rates. For their Flex Naira savings, you earn up to 12% per year, while their SafeLock can earn you up to 17% per year. Additionally, PiggyVest has an “Investify” feature that lets you invest in various opportunities for more returns.

2. Cowrywise

Cowrywise is another great savings app in Nigeria that helps you save money and invest with ease. You can create multiple savings plans and choose how often you want to save – daily, weekly, or monthly. Cowrywise also has a “Save As You Earn” feature, where you can automatically save a portion of your income.

Cowrywise provides competitive interest rates. You can earn up to 14% per year on your savings plan. The app also allows you to invest in mutual funds, which can provide higher returns over time. Cowrywise has a simple interface and helpful tools that makes saving and investing straightforward.

3. Renmoney

Renmoney is a savings and loan app that helps you manage your finances better. With Renmoney, you can open a savings account, set savings goals, and track your progress. The app also offers loans with flexible repayment options, making it a good choice if you need financial support.

Renmoney’s savings accounts offer attractive interest rates. You can earn up to 18% per year on your savings. The app’s loan feature provides quick access to funds, with interest rates starting from 2.65% per month. Renmoney combines savings and lending to help you achieve your financial goals efficiently.

4. Kuda

Kuda is a digital bank that offers a wide range of financial services, including savings. With Kuda, you can open a free bank account, save money, and even budget your expenses. The app provides a “Save As You Spend” feature, which automatically saves a small percentage of every transaction you make.

Kuda offers up to 15% interest per year on fixed savings plans, and up to 10% on flexible savings. It also provides useful tools like spending analysis and free instant transfers. Kuda makes managing your money easy with its user-friendly app and various savings options.

5. FairMoney

FairMoney is majorly known for its lending services, but it also offers savings features. You can open a savings account with FairMoney and earn competitive interest rates. The app allows you to save money automatically, making it easier to reach your financial goals.

FairMoney offers interest rates of up to 10% per year on savings accounts. There is also a FairLock option that offers up to 18% interest per annum. It also provides quick loans with low interest rates, starting from 2.5% per month. 

Factors To Consider When Choosing a Savings App

There are various savings apps available to Nigerians and they have different benefits. Since there are many options, how do you figure out the best one for you? Before you choose a savings app to use, there are some factors you should consider.

Below are the factors you should have in mind when choosing a savings app:

1. Security: Security is the most important factor when choosing a savings app. You need to ensure your money and personal information are safe. Look for apps that use strong encryption to protect your data. Also, check if the app is regulated by financial authorities. This gives you peace of mind that your savings are secure.
2. Interest rates: Interest rates determine how much you earn on your savings. Higher interest rates mean more money for you. Compare the rates offered by different savings apps. Some apps offer better rates for fixed savings or long-term plans. Choose an app that provides competitive rates to maximize your earnings.
3. Accessibility: A good savings app should be easy to navigate and understand. Also, the app should be available on both Android and iOS devices. This ensures you can access your savings anytime and anywhere. Additionally, you should be able to withdraw your funds easily when you need them. Look for apps that offer quick and hassle-free withdrawal options, so you can access your money without delays.
4. Customer service: Good customer service is essential for resolving issues quickly. Look for savings apps that offer multiple ways to contact support, such as phone, email, or live chat. Check reviews to see if other users are satisfied with the customer service. Prompt and helpful support makes managing your savings smoother and less stressful. 

Conclusion 

Savings apps have changed how we save money, making it easier and more rewarding. Whichever savings app you choose to use, you can automate your savings and watch your money grow. These apps offer convenience, security, and attractive interest rates right from your mobile phone.

When selecting a savings app, consider factors like security, interest rates, accessibility, and customer service to find the best fit for your needs. Start using a savings app today to take control of your finances and achieve your financial goals effortlessly. 

Additionally, with the Nosh app, an all-in-one payment platform for gift card trading, digital remittance, and bill payments, you can seamlessly manage your recurring expenditures and even turn unused gift cards into cash.