Savings Apps Nigerians Love: Top 5 Picks

Saving money in Nigeria used to be a constant battle between income and unexpected “urgent” expenses. One minute you have ₦100,000, the next, your cousin needs help with school fees, your gen has packed up, or you’ve “mistakenly” entered a new restaurant in Lekki and left with only receipts and regret. But thanks to the rise of smart fintech solutions, savings in Nigeria no longer have to be a miracle. Nigerians now have powerful tools in their pockets—literally.

Yes, we’re talking about savings apps. These digital platforms are changing the game, helping millions of Nigerians develop healthy financial habits without breaking a sweat (or the bank). Whether you're saving for Detty December, japa plans, a car, or even a rainy day, the right app can keep your money growing and out of reach from impulse spending.

So, which ones are truly worth your time? Let’s break down the top 5 savings apps Nigerians love in 2025, based on popularity, features, trust, and user satisfaction.

1. PiggyVest – The OG of Nigerian Savings

If savings apps had a king, PiggyVest would be wearing the crown. Launched in 2016 as “Piggybank.ng”, PiggyVest was the first online savings & investment platform in Nigeria, and since then, it has helped over 4 million users save billions of naira collectively.

Why Nigerians Love PiggyVest:

Automated savings: Set it and forget it. PiggyVest helps you automate your daily, weekly, or monthly savings.

Locked savings (SafeLock): This is like putting your money in prison—with your permission. You can lock funds for a set period and earn higher interest.

Target savings: Saving for a wedding, rent, school fees, or even your next iPhone? Set your target and work towards it.

High interest rates: You earn up to 13% per annum depending on the plan.

Investment opportunities: You can also invest in pre-vetted low-risk ventures.

Real-Life Example:

Chidera, a 27-year-old in Abuja, said: “PiggyVest helped me save for my master's abroad. I just locked ₦50k every month, and within 2 years, I had over ₦1.2 million, plus interest. It was the discipline I never had on my own.”

2. Cowrywise – Savings Meets Investment Goals

Cowrywise is another beloved fintech platform that gives PiggyVest a run for its money—literally. It focuses heavily on both savings and investments, helping Nigerians grow their money while developing discipline.

Features That Stand Out:

Interest up to 12% per annum

Multiple savings plans – Regular savings, Halal (for Muslims who prefer Shariah-compliant investment), and circle savings (save as a group).

Mutual fund investment options – You can invest in various funds based on your risk appetite.

Beautiful and intuitive UI – The app is sleek and easy to use.

Why Nigerians Trust Cowrywise:

SEC-licensed

Transparent investment plans

Good customer service

Educational blog posts and tools for beginners

Testimonial:

Tosin, a freelance designer, said: “I wanted to grow my money without becoming a financial analyst. Cowrywise made that easy. I save monthly and also invest a bit in mutual funds—no stress.”

3. Kuda Bank – The Bank of the Free

Kuda isn’t just a savings app—it’s a digital bank. But it earns its spot on this list because of how many Nigerians use it to save automatically, manage their spending, and avoid crazy bank charges.

What Makes Kuda Special:

Spend+Save Feature: For every transaction, you can set a rule to save a percentage or round it up.

Zero maintenance fees: Unlike traditional banks, Kuda doesn’t stress you with hidden charges.

Daily interest earnings: You earn interest on your savings daily once your account hits ₦10,000.

Budgeting tools: You can track where your money is going, set spending limits, and even block cards.

Why Nigerians Are Switching to Kuda:

Fast sign-up process

Smooth user interface

Excellent for salary earners who want to split bills, save, and transfer easily.

Real Talk:

Emeka, a content creator in Lagos, shared: “Kuda is like the bank GTB used to be before they turned to principalities. I save daily through Kuda without even trying.”

4. ALAT by Wema – The First Fully Digital Bank in Nigeria

ALAT was Nigeria’s first digital bank, launched by Wema Bank. It targets tech-savvy Nigerians who want full banking services with convenience and flexibility. But its saving features make it a strong competitor on this list.

Features Nigerians Love:

Goal-based savings: Save towards a dream with customizable goals.

Up to 10% interest on savings

Automated deposits: Set auto-debits to remove the temptation of “I go save later.”

Group savings: You and your friends can save together for something special.

What Makes ALAT Unique:

It merges the best of both worlds—a traditional bank’s security and a fintech app’s flexibility. Users still enjoy Wema Bank benefits, including loans and debit cards.

What Users Are Saying:

Fatima, a small business owner in Kano, shared: “I opened an ALAT account because of the goal-saving feature. My ‘Trip to Dubai’ target savings is now on track. I don’t even touch it. God, when?”

5. Savy – The Underdog with Smart Tools

Savy may not have the popularity of PiggyVest or Cowrywise, but its personalized saving tools and simplicity are winning hearts fast. It’s ideal for people who don’t want complex dashboards and graphs—just results.

What Makes Savy Shine:

Smart save technology: It analyzes your spending patterns and saves only what you can afford.

Emergency funds wallet: For life’s wahala moments—you can set up a backup fund.

Customizable goals: Whether it's rent, school fees, or your side hustle capital, you can tailor your savings goals.

Other Features:

Earn up to 10% interest annually

No monthly maintenance fee

Option to pause your savings without losing your progress

Why Users Love It:

Simple interface. No clutter. Focused on behavioral savings rather than just automating fixed amounts.

Obinna, a 35-year-old teacher in Enugu, said: “I’m not earning much, so saving ₦500 here and there matters to me. Savy helps me build that habit gently.”

Honorable Mentions:

These apps didn’t make the top 5 but are worth checking out:

V Bank – Great for budget tracking and flexible saving.

Sparkle – Combines lifestyle features with financial planning.

Branch – Known more for lending but also allows interest-based savings.

Carbon – Offers savings plus BNPL and credit services.

Why Savings Apps Are a Game-Changer in Nigeria

Let’s be real: saving money in Nigeria is not beans. Between black tax, inflation, and the temptation to “soft life” before things go south, it's easy to keep money today and blow it tomorrow.

But savings apps offer:

Accountability – You’re less likely to spend money you don’t see.

Discipline – Automation takes the “I forgot” excuse out of the equation.

Growth – Unlike traditional banks that offer 0.01% interest, savings apps help your money work for you.

Accessibility – Everything happens on your phone, without standing in long queues or filling 10 forms.

Whether you're earning six figures or managing a modest salary, there’s a savings app tailored for you.

How to Choose the Best Savings App for You

Before you jump in, consider these factors:

Security: Is the app regulated by CBN or SEC?

Interest rate: What are the returns like?

Flexibility: Can you pause, edit or withdraw easily?

Reputation: Check reviews and how long the app has been operating.

Customer support: In Nigeria, this one is important o! You don’t want to be ghosted when your money goes “missing.”

Final Thoughts

Gone are the days when saving money in Nigeria felt like trying to catch breeze with basket. The fintech revolution has handed us powerful tools to build wealth right from our smartphones. Whether it’s PiggyVest helping you lock funds like a vault, or Savy gently nudging you to save little by little, the goal is the same—financial stability and freedom.

The earlier you start, the better. Remember, it’s not about how much you earn but how much you can keep and grow. In 2025, you have no excuse. These apps have simplified savings to the point where the only thing stopping you… is you.