Current Date: 28 May, 2024

Top 5 Saving Apps in Nigeria for 2024

Many odds plague the Nigerian economy, from bad governance to poor financial decisions. Financial stability is also a major challenge for many young people due to the poor savings culture. 

However, the emergence of saving apps has provided a ray of hope. These innovative tools offer practical solutions to the age-old problem of saving effectively. 

With features like automatic savings, goal tracking, and personalized financial advice, saving apps empower Nigerians to take control of their finances and build a secure future. 

Top Saving Apps in Nigeria


PiggyVest, formerly known as, was founded in 2016 by Somto Ifezue, Odunayo Eweniyi, and Joshua Chibueze. It was originally conceived as a platform to encourage disciplined saving habits among Nigerians.

PiggyVest has since evolved into one of the country's leading financial technology (fintech) companies, boasting millions of users nationwide. PiggyVest offers a variety of savings options tailored to meet the diverse needs of its users. These include:

  • PiggyVest enables automatic savings by allowing users to set up recurring deposits.
  • Users can set and track savings goals, fostering motivation and focus on financial targets.
  • Funds can be locked for a set period to prevent impulsive spending and encourage saving.
  • PiggyVest provides competitive interest rates to help users’ savings grow over time.


Cowrywise is a Nigerian financial app that takes the complexity out of saving and investing. 

Cowrywise is known for its savings features, and it also offers curated investment options in sectors like agriculture and transportation.

Here's what makes them stand out:

  • Flexible Savings Plans: this feature allows you to create various savings plans for different objectives.
  • Goal-Based Saving: This functionality enables you to establish specific savings goals, like a vacation or a dream car.
  • Savings Challenges: Compete with friends or family to reach a savings target, keeping motivation high.


FairMoney emerged as a transformative force in the Nigerian banking landscape. Founded by visionary entrepreneur Laurin Hainy, it launched with the mission to provide accessible financial services to all. 

FairMoney quickly gained traction as a leading saving app in Nigeria. User reviews consistently praise its two distinct savings options, FairSave and FairLock.

FairMoney's has two saving option: 

FairSave: This user-friendly option offers easy access and competitive interest rates. Deposit and withdraw funds whenever you need them while still enjoying growth in your savings. 

FairLock: FairLock offers fixed deposit accounts with lock-in periods. The longer you commit your funds, the higher the interest rate you can earn. 

Unique Features Of FairMoney App:

  • Compared to traditional accounts, FairSave offers attractive interest rates, ensuring your money grows steadily.
  • The app offers a smooth and integrated financial management experience for users who also use FairMoney's loan products.

Kuda bank

Kuda Bank is a digital-only bank based in Nigeria. It offers banking services entirely through its mobile app, allowing users to open accounts, make payments, and manage finances without visiting a physical branch. 

Kuda aims to provide convenient, accessible banking solutions to its customers, particularly targeting the younger generation and those who prefer digital banking.

Kuda Bank offers a straightforward savings account designed for ease and growth.

Unique Features Of Kuda Saving App:

  • Effortless Access: Your money is always readily available. Deposit, withdraw, and manage your savings all from the convenience of the Kuda Bank app.
  • Competitive Interest Rates: Kuda Bank doesn't shy away from offering attractive interest rates on your savings. Watch your money grow steadily without getting locked into complex terms.
  • Focus on Transparency (Optional): Many user reviews highlight Kuda Bank's commitment to transparency. There are no hidden fees or confusing charges, so you know exactly what to expect with your savings.

Alat by wema

Alat by Wema Alat is a product of Wema Bank Plc, a Nigerian commercial bank. It was indeed launched on May 2, 2017. Alat is a digital bank that offers easy and effective ways to manage Nigeria's finances.

It allows Nigerians to access loans, savings, transfers, physical and virtual cards, and payment transactions online.

Unique Features Of Alat by Wema:

  • The app allows you to manage your savings accounts, make deposits, and track your transactions—all from the palm of your hand.
  • Alat prides itself on its intuitive and user-friendly interface, which is designed to make banking simple and stress-free.
  • With ALAT, you can transfer money to any bank in Nigeria in seconds, all for a fraction of the cost of traditional banks.

Related read: 

Tips for Choosing a Savings App in Nigeria

Interest Rate

This is a big draw for many users. However, consider if the app offers tiered interest rates, where you earn a higher rate for keeping a larger balance or not making frequent withdrawals.


Look out for monthly maintenance, transfer, or withdrawal fees. Some apps may waive these fees if you maintain a minimum balance.


Ensure the app is licensed by the Central Bank of Nigeria (CBN) and uses robust security measures to protect your financial information. Look for features like two-factor authentication and data encryption.


Consider what features are important to you. Some apps offer automatic savings transfers, budgeting tools, bill payments, and the ability to set and track savings goals.


How easy is it to deposit and withdraw funds? Does the app integrate with your bank account for easy transfers?

Overall, saving apps in Nigeria offer a user-friendly and feature-rich way to save money, grow your wealth, and achieve your financial goals.

Do you prioritize convenience and easy access to your money? An app with a user-friendly interface and free ATM withdrawals like Kuda Bank might be ideal.

Are you a goal-oriented saver seeking high returns? It could be a great fit to explore options like FairMoney's FairLock, with its fixed deposit accounts and potentially higher interest rates.

Are you looking for a well-rounded app with budgeting tools and investment options? Explore Cowrywise's offerings.


Saving apps combine technological advancements with financial literacy to transform the financial landscape in Nigeria. These innovative tools offer a user-friendly, secure, and feature-rich platform to cultivate a healthy savings habit.

Leveraging these innovative tools, you can effectively manage your finances, build a secure future, and contribute to Nigeria's overall economic growth.

Micheal Animasaun

Micheal Animasaun

Michael Animasaun is an accomplished SEO expert and writer with an interest in cryptocurrency and its impact on finance and investment. He has a diverse background in writing, having covered topics such as sports, fashion, and history. This wide range of interests is reflected in the unique perspective he brings to his work. Michael is a passionate researcher who values knowledge and is always eager to learn more.