Saving money in Nigeria has gone digital.  Fintech apps like PiggyVest and Cowrywise have become Nigeria’s Top choice  for smart savings, investment, and financial planning as traditional banks lose popularity with younger, tech-savvy Nigerians. Both platforms have changed how Nigerians save and invest by providing digital tools that make financial planning easier, smarter, and more accessible. However, we know confusing it must be picking one for your  financial objectives such as savings.

This article breaks down the key differences, features, and benefits of PiggyVest Vs Cowrywise to help you choose the one that best fits your financial goals.

Overview of PiggyVest vs Cowrywise

 

PiggyVest

Started in 2016 as PiggyBank.ng and quickly became the most popular digital savings and investment platform in Nigeria. It is known for its easy-to-use savings features like SafeLock, Target Savings, and Flex Dollar. Through its Investify platform, it also offers investment opportunities to earn interest and keep your money safe and accessible. It allows you to use Piggybank (Automated Daily/Weekly/Monthly Savings), Safelock (Fixed Savings at Higher Interest), Flex Dollar (Save in USD), and Investify (Access to Pre-Vetted Investment Opportunities).

Cowrywise

founded in 2017, offers a user-friendly savings and investment platform designed to promote discipline, long-term planning, and structured financial growth. It’s especially ideal for individuals seeking consistent, goal-oriented saving habits and access to a range of mutual fund investments managed by top asset managers. It also offers Regular Plans for automated savings and Halal Savings, which are compliant with Sharia principles. A Mutual Funds Marketplace, A convenient Stash Wallet for easy transfers and top-ups.

Interest Rates and  Investment Returns

PiggyVest’s Investify gives users access to pre-vetted investment opportunities in agriculture, real estate, and more. Depending on the level of risk, PiggyVest offers SafeLock at up to 13% annually and investments at up to 25%

Cowrywise, on the other hand, focuses on mutual funds and government-backed securities, making it ideal for users who prefer regulated, lower-risk investments. Cowrywise offers annual returns that typically range from 8% to 15% based on the performance of mutual funds.

Verdict: PiggyVest might be more appealing if you want higher potential returns. But if stability and regulation are your priorities, Cowrywise is a solid choice.

User Experience and Interface

Both apps are sleek and easy to navigate, but PiggyVest’s interface feels more gamified and interactive. Clean, fun, and intuitive.  It uses gamified language like “Smash your savings goal!”  which motivates you.

 Cowrywise provides a more professional and minimalist design. It really comes down to personal preference.  more organized, professional, and minimalist. Ideal for individuals who require a straightforward dashboard.

Is PiggyVest/Cowrywise safe?

Both platforms are registered with the Corporate Affairs Commission (CAC) and operate under

NDIC and CBN guidelines.  Cowrywise also partners with regulated fund managers, while PiggyVest emphasizes transparency and user control over investments. They use bank-grade security and two-factor authentication.

CBN/SEC guidelines are followed when managing and insuring your savings. The verdict is a tie. Both are safe and trusted by over 2 million Nigerians.

Withdrawal & Flexibility

 

PiggyVest

Flex Naira Account: You can withdraw immediately and for free from this account, but only on free withdrawal days (typically once every quarter).

SafeLock & Target Savings: Funds are locked until the maturity date.  Although there is a 5% penalty for early withdrawal, it is possible.

Flex Dollar: Withdrawals are converted to naira at the prevailing rate and sent to your bank account.

Channels for Withdrawal: Directly to the linked Nigerian bank account.

Cowrywise

Regular and Life Goals Savings: Up until the maturity date, the funds are locked up. Unless you have an emergency plan, you cannot withdraw early.

Emergency Plan: Allows on-demand withdrawals, but it’s meant strictly for emergencies.

Withdrawals from mutual fund investments can take anywhere from one to three business days, depending on the fund’s liquidity. Channels for Withdrawal: Your linked bank account receives the funds.

VERDICT: With its Flex Naira account, PiggyVest provides greater adaptability and permits early withdrawal (for a fee). With regular savings, Cowrywise enforces stricter discipline—you can’t access your funds until the specified date. If you value accessibility, PiggyVest might suit you better.  If you prefer rigid savings discipline, Cowrywise could be your go-to

 

Features	piggyvest	cowrywise
Minimum savings	#100	#100
Investment Options	Yes (PiggyFlex, Investify)	Yes (Mutual Funds)
Mobile App Experience	Very user-friendly	Clean and structured
Interest rate	8-13% annually	8-15% annually
Emergency withdrawer	Limited—encourage discipline	Available -but with some restriction
Target savings	Yes, for person or can be used for group savings	Yes, and a goal-tracking
SafeLock/fixed savings	Yes, lock funds higher interest	Yes, a similar fixed saving option
Regulated by SEC	YES	YES

While Cowrywise provides more structured plans for long-term goals, PiggyVest focuses on behavioral nudges to assist users in maintaining discipline.

UNIQUE FEATURES: PIGGYVEST VS COWRYWISE

Cowrywise:

• Mutual Fund Marketplace: Select from a variety of funds that are regulated by the SEC. ● Halal Savings: For Muslims who want options that adhere to the Sharia.
• Savings Circles: Group savings plans with friends or family.

PIGGYVEST

PiggyVest:

• SafeLock: Lock away funds and earn higher interest.
• Both Flex Naira and Flex Dollar make it simple to store and transfer funds. ● Investify: Explore curated investment opportunities.

Which one would you love to try?

If you choose PiggyVest: Want a variety of savings options and investments with higher yields?

Prefer a more interactive, goal-oriented experience

Like the idea of saving in dollars (Flex Dollar)

 Cowrywise is your best bet if you prefer plans for long-term investments that are structured Want to start investing with very little capital?

Value simplicity and options in regulated mutual funds

Also Read: Best Payment Gateways For Nigerian Freelancers in 2025

Conclusion

PiggyVest and Cowrywise are great tools for saving regularly and increasing wealth. The best option is determined by your personal preferences, risk tolerance, and financial objectives. Whether you’re saving for a rainy day or planning for long-term wealth, either platform can help you get there—just in slightly different ways. There’s no one-size-fits-all winner here.  Both PiggyVest and Cowrywise offer excellent savings and investment platforms, and your decision depends on your personal style and financial goals.

Choose PiggyVest if you:

• Want flexibility and multiple saving options
• Love gamified motivation and user-friendly design
• Need both short- and long-term plans

Choose Cowrywise if you:

• Want structure, discipline, and access to real mutual funds
• Prefer a minimal, clean interface
• Need Halal or group-based saving options

Download both apps and try their features for 30 days—then stick with the most favorable