If you are looking for the best saving app in Nigeria and you are wondering which one to trust with your money and which one will give you the best interest, then the good news is that, there are many saving apps in Nigeria right now that will give you the best saving options ever.
Some saving apps will give you flexible saving options where you can withdraw your money anytime while some will lock your money until a specific date. Some also give higher interest on flexible savings while some give higher interest only when you lock the money.
The main difference between all of them is the interest rate, the features, the flexibility, etc. Which one works best for you will depend on many factors and that is exactly what this article will guide you on.
What to Know About Saving Apps?
Saving apps are structured mobile applications that are designed for users to save money and earn interest on daily, weekly or monthly basis depending on the saving plan.
The biggest reason many Nigerians are moving to saving apps is the interest rate. Your regular bank savings account in Nigeria gives you around 1% to 4% interest per year but saving apps give you anywhere between 8% to 28% per year depending on the platform and the savings plan you choose.
They also come with features like automatic savings which automatically deduct from your account and save, goal-based savings where you set a target and save towards it, and locked savings where you cannot touch the money until the actual expiry date.
See Also: How To Calculate Interest rates
Best Saving Apps in Nigeria 2026
1. PiggyVest
PiggyVest is one of the most popular and most trusted saving apps in Nigeria. It has been around since 2016 and it was the first saving app in West Africa.
Their savings plans include:
- Piggybank: This is an automated saving plan where you set an amount and how often you want to save (whether daily, weekly or monthly) and the app will automatically deducts the set amount from your bank account and save it for you. The interest for this plan is up to 10% per annum.
- SafeLock: This plan allows you to lock a lump sum of money in your savings for a particular period of time and you cannot touch that money until the date that you set. The interest for this plan is up to 22% per annum.
- Target Savings: For this plan, you will set a specific savings goal for specific project like rent, school fees or emergency fund and save towards it. Their interest rate ranges from 13.27% to 13.85% per annum.
- Flex Naira: This is a flexible saving plan where you can withdraw anytime. The interest for this saving plan is lower than most of the other plans because of the flexibility of the plan.
- Flex Dollar: This saving plan is mainly for those who want to save in dollars instead of naira.
How to get started on PiggyVest:
- Download PiggyVest app from Google Play Store or App Store
- Create an account using your email or phone number
- Complete your details and link your BVN
- Verify your identity
- Link your bank account
- Fund your account
- Choose a savings plan and set it up
2. FairMoney
FairMoney started out as a loan app in Nigeria but has grown into a full digital bank and now, it offers very competitive savings plans. In fact, FairMoney is one of the best options in Nigeria right now when it comes to higher interest rates on savings.
Their savings plans include:
- FairSave: This is a flexible savings where you can withdraw at any time without penalty. The interest for this plan is up to 17% per annum and the interest is paid daily.
- FairLock: Their fair lock plan is a fixed savings plan where you can lock your money for 7 to 730 days. The interest on this plan ranges from 17% to 28% per annum depending on how long you lock it. You can choose to receive your interest upfront or at maturity.
Note: Sometimes, FairMoney advertise up to 30% promotional interest rate for new users for the first 7 days and after the 7 days, the rate goes back to the normal long term rates which ranges from 17% to 28% per annum.
How to get started on FairMoney Saving:
- Download FairMoney app
- Create an account using your phone number
- Enter your BVN to verify your information
- Complete other identity verification
- Fund your account
- Go to the savings section
- Choose your savings plan (FairSave or FairLock)
- Set up your plan and start saving
3. Cowrywise
Cowrywise is more of an investment and savings platform combined. Instead of just keeping your money in a savings account, Cowrywise channels your funds into mutual funds. Mutual funds are managed by licensed and SEC-regulated asset management companies. So the returns on your savings will depend on how those funds perform and not a fixed rate.
Their savings plans include:
- Regular Savings: This plan allows you to save daily, weekly or monthly and earn returns through the mutual funds your money is invested in.
- Life Goals: This plan allows you to save towards specific targeted goals like rent, emergency fund or school fees. Each of these goals has its own plan and interest rates assigned.
- Group Savings Circles: This plan allows you to save together with other people whether friends or family towards a shared goal.
- Halal Savings: This saving plan is basically for users who want savings that are compliant with Islamic finance principles.
How to get started on Cowrywise:
- Download the Cowrywise app
- Create an account with your email or phone number
- Login and complete your profile with the necessary details
- Complete your identity verification
- Link your bank account
- Choose a savings plan
- Set up your saving goal
- Start saving
4. Kuda Bank
Kuda Bank is a CBN-licensed digital bank that combines both banking and savings features. If you already using Kuda, the savings feature is right inside the app but for fresh users, you have to create an account.
Their savings plans include:
- Spend+Save: This saving plan is suitable for daily savings. Each time you spend from your Kuda account, a percentage of the spent amount is automatically moved to savings. The percentage that will be moved depends on your settings. But sadly, there is no interest for this plan.
- Save Frequently Pocket: For this plan, you are to set a daily, weekly or monthly saving amount and Kuda will automatically deduct it from your balance and save. The interest for this plan is up to 8% per annum.
- Fixed Savings: For this plan, you can lock your money for a set period and earn up to 12% per annum. Sadly, if you try to withdraw your savings before maturity, the plan will be automatically deleted and 10% of your accrued interest will be deducted.
How to get started on Kuda:
- Download Kuda app
- Create an Kuda account
- Enter your BVN and NIN for verification
- Go to the savings section
- Choose and set up a suitable savings plan
- Start saving
5. Renmoney
Renmoney is a fintech company that offers both loans, savings and investment services. For their saving services, they have RenVault which is their main savings plan.
Their savings plans include:
- RenVault: This plan offers a fixed savings where you lock your funds and earn up to 28% per annum. You can choose to receive your interest upfront or at maturity.
- Daily Interest Plan: For this plan, the interest will be paid daily into your account.
- Penalty-free Withdrawal: This is their flexible savings plan where you can access your money at anytime without being penalized. Meaning, you can withdraw your savings anytime you wish.
How to get started on Renmoney:
- Download Renmoney app
- Sign up if you don’t have an account yet
- Complete your identity verification
- Go to the savings section
- Choose a saving plan
- Fund your account
- Activate the savings
6. ALAT by Wema Bank
ALAT is Nigeria’s first fully digital bank and it is backed by Wema Bank which has been around since 1945. It is a good option for high interest savings.
Their savings plans include:
- Flexible Savings: where you can withdraw your savings anytime without penalty.
- Fixed Savings: where you can lock your savings for a set period and earn up to 17% per annum.
- Savings Challenge: the saving challenge is designed to help you stay motivated to reach your saving goals.
- Group Savings: this plan allows you to save with friends or family towards a shared target.
How to get started on ALAT:
- Download the ALAT app from Google Play Store or App Store
- Open an account with your BVN and NIN
- Complete your identity verification
- Navigate to the savings section and choose a plan
7. VBank (VFD Microfinance Bank)
VBank is a digital banking platform by VFD Microfinance Bank. Their interest on savings ranges from 14% to 20% per annum with higher interest on fixed deposits. They also have a group savings feature where you can save together with others towards a shared target.
How to get started on VBank:
- Download V by VFD app from Google Play Store or App Store
- Create an account
- Complete your KYC verification
- Go to savings
- Choose your preferred plan
- Activate and start saving
Interest Rate Comparison
Below is a quick look at the interest rates across the major saving apps in Nigeria:
| App | Flexible Savings | Fixed/Locked Savings |
|---|---|---|
| PiggyVest | Up to 10% p.a. | Up to 22% p.a. (SafeLock) |
| FairMoney | Up to 17% p.a. (FairSave) | 17% – 28% p.a. (FairLock) |
| Cowrywise | Depends on fund performance | Depends on fund performance |
| Kuda | Up to 8% p.a. | Up to 12% p.a. |
| Renmoney | Varies | Up to 28% p.a. (RenVault) |
| ALAT | Varies | Up to 17% p.a. |
| VBank | Up to 14% p.a. | Up to 20% p.a. |
Note: These rates can change based on market conditions and each platform’s policy. Always confirm the current rate directly on the app before you save.
See Also: How to Get a Loan in Nigeria: Top Loan Options for Fast Cash
FAQs About Saving Apps in Nigeria
Which is the best saving app in Nigeria in 2026?
There is no single overall best saving app for everyone. The best saving apps for you depends on what you want. For the best interest rate on locked savings, FairMoney FairLock and Renmoney RenVault are the best. For variety of saving options, PiggyVest is the best.
Which saving app gives the highest interest in Nigeria?
FairMoney and Renmoney offer up to 28% per annum on their fixed locked savings which is actually the highest in Nigeria right now.
Learn More: Best Saving Interest Rate in Nigeria in 2026
Are saving apps in Nigeria safe?
Yes. Saving apps that are owned or backed by CBN-licensed institutions are safe. Those that not licensed or regulated are not safe.
See Also: 5 Modern Ways of Saving Money in Nigeria in 2026
Conclusion
If you want to grow your money in Nigeria in 2026, these saving apps are far better than leaving it in your regular bank savings account where the interest is almost nothing.
Pick the one that matches your savings plans, create account, fund it, set up your savings plan and start saving. The earlier you start, the better for you.
