12 Top Ranking Investment Platforms in Nigeria

Filed in Articles by on January 13, 2022

Investing money is a great source of making passive income. There are many investment platforms in Nigeria, and today, we will discuss where to invest money in Nigeria.

Investment Platforms in Nigeria

So, in this discourse, we’ll share sure-fire tips on picking the right investment opportunities in a world like ours.

If you are considering investing in a profitable business in Nigeria in 2024 but don’t know which company to choose to earn extra money, here is a list of Nigeria’s most lucrative investment platforms.

Investment Platforms in Nigeria

Here are the top-ranking investment platforms in Nigeria for 2024:

1. Payvest

An investment feature on the Pay Later app, the online lending platform, Payvest allows users to save and earn interest as high as 15 percent per annum payable quarterly. 

It works like your regular fixed deposit in that you are not allowed to add once lock-in for a specified tenor. With a minimum investment of N50,000, users are allowed to lock in their investment for periods ranging from 3, 6, 9, or 12 months.

Paylater and Payvest have been re-branded as Carbon.  Carbon is an app that lets you control your finances in just a few clicks – save, invest, and borrow. You can also recharge airtime and pay bills from this single app.

2. Cowrywise

This platform allows you to automate your savings.  You decide how you save and when you save which can be daily, weekly, or monthly.  By linking your debit card to your Cowrywise account, your savings program is automated.

Cowrywise pays interest of between 10 – 15 percent per annum on your savings and this is accrued and credited to your account daily. 

You are allowed to withdraw from your savings at any time and also qualify for Cowrywise loans at a cheap rate.

3. PiggyVest

Formerly, PiggyBank.  It is the first and about the most popular of these savings and investment platforms in Nigeria. They claim to give Nigerians the power to manage their finances by making them more transparent.

You choose to save small amounts or as big as you can periodically – daily, weekly, or monthly towards specific causes, programs, and projects and earn interest of between 10 – 17 percent,

You can also choose to lock away your savings for a particular period in the Safe Lock which is equivalent to a fixed deposit account in a regular commercial bank.

You can save between N50 – N25,000 daily, N1,000 – N100,000 weekly, and N3,000 – N500,000 monthly, and with their quicksave option you can add more funds to your savings at any time to the tune of N500,000 per time.

4. SmartSaver

Online savings and investment platforms aim to make saving money easier, smarter, convenient, and secure.  They use Paystack for all their payment and their funds are warehoused in FCMB.

Set your savings target and approach on a daily, weekly, or monthly basis.  Withdrawal is quarterly and your money earns interest far higher than what you get on a regular bank savings account.

SmartSaver investment savings pay as high as 30 percent per annum while their SuperSave product pays up to 8 percent per annum, quarterly at 2 percent per quarter.

SmartSaver users enjoy the benefit of getting a loan from them without collateral.

5. Alat

This platform is powered by Wema Bank and can be said to be more than just a savings and investment platform.

It is prided to be Nigeria’s first digital bank designed to democratize banking services and make them accessible to all. 

Using your mobile phone, you can open an account and start an automated savings program that pays you up to 10 percent per annum, 3 times what the bank pays its regular savings account customers.

6. Reach

This is a personal finance app that helps you develop a financial discipline by tracking your income, monitoring your expenses, and helps you make intelligent money choices. 

Forbes describes Reach as a Nigerian Fintech that helps you save for life’s big moments.

Using an algorithm, the app tracks your SMS alerts and uses it to produce detailed personal financial management information to give you a breakdown of where your money goes each week, insights on how you spend, and a budgeting tool to help you achieve your financial goals.

This fintech company currently supports 17 banks in Nigeria and Ghana.  Download the Reach app on the Google Play Store.

7. Kudabank

Kudabank is arguably Nigeria’s first digital-only bank that is licensed by the Central Bank of Nigeria

It’s a full-fledged microfinance bank with a complimenting digital platform that allows starting and completing banking transactions online by writing a single line on paper. 

On the Kudabank app, you can save, invest, and borrow, all in an automated manner.  Being a microfinance bank means that its deposit is covered by the Nigerian Deposit Insurance Corporation (NDIC)

8. Riby

An online savings and investment platform designed to assist individuals and small businesses to save, invest, and borrow money at competitive interest rates. 

The platform has modules for different market segments: Riby Cooperative addresses the needs of Cooperatives, Associations, and Trade Groups helping them manage member contributions, savings, and borrowing; Riby Peer lending, which allows peer-to-peer lending and the Riby Saver App which allows users to automate their saving.

9. Fundall

Fundall is a one-stop personal financial management app that enables you to automate the planning and management of all your finances from one app. 

You can save, invest, borrow, pay bills, and even buy insurance with this app.

It’s simply a personal financial management tool that provides you with all you need to build wealth and grow your business.

10. Kolopay

A mobile app that allows you to save towards a planned target over a period of time. 

With Kolopay, you can share your savings goals with friends and family so that they also can be part of your plan by contributing towards your goal.  You earn interest on your savings at 6 percent per annum.

11. I-Invest

If you have always wanted to play in the Treasury Bill market and have been constrained to do so, this mobile app will help you begin to do so quickly.

I-invest helps users grow their savings and earn a higher interest rate by buying Treasury Bills irrespective of where they are located just by clicking the buttons on their mobile phones. 

The minimum investment is N100,000.  Interest is accrued daily and on maturity principal amount invested plus accrued interest is credited to your designated bank account.

12. Payday

The Payday Investor is an online investment platform powered by ARM, a Nigerian wealth management company. 

The platform is designed to help users save automatically, your savings are thereafter invested in any of their mutual funds for higher returns.

Having explained the various Investment Platforms in Nigeria, you should know that there are statutory fees required of you to pay.

You may not pay them directly, but you certainly pay them. don’t lose out because of fear. Start now and you will have your future thank you tremendously.

CSN Team.

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