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Saving During Detty December Can Be Easy

We’re gradually approaching the season of love, giving and happiness. This happiness entails spending money, going to events and shows. In the words of young Nigerians – Detty December, a time to enjoy yourself and unwind with friends. 

Savings is a crucial part of being financially independent and stable.  According to Edmond Mbiaka – It’s unfortunate how some people complain about being financially unstable, yet they use their last savings to acquire material things.”

As much as we all want to enjoy ourselves and spend money, it is important that we save for rainy days and we’re prepared for it. 

Technology has however made savings easier and comfortable, some of these innovative apps help you put your money away, others help you save for a particular period. 

Several financial apps in Nigeria have made it easier and faster for us to cultivate a savings habit. 

We have compiled a list of 5  financial apps that will help you save money. 

Let the review begin!


Eyowo is a mobile bank that allows you to send money to your phone number and bank account. The good news is, Eyowo also helps you save!

You can save with Eyowo in two ways; Fixed and Recurring Savings

Fixed Savings – 17% interest on your savings per annum is guaranteed 

This plan is perfect if you want to save a large sum of money for a minimum of a 30-day period.

You can’t access the principal amount saved until the maturity date but you can choose to collect your interest upfront.

Recurring Savings Plan – You can automate your savings towards any goal at 13% interest on your savings per annum.

This plan is so cool as it allows you to set a target and automate the frequency at which money is added to your safe.

Your safe’s maturity date must be at least 3 months away from the day you created the safe.

Just because Eyowo understands the discipline needed to save, you won’t be able to withdraw from this plan until the due maturity date. To start saving on Eyowo, follow these steps


This is another app that helps you save. PiggyVest puts you in a position where you have to consciously think about the reason you’re withdrawing the money because if you withdraw before the set withdrawal date, 5% of the money withdrawn will be deducted by PiggyVest.

PiggyVest has 3 savings options; the Simple Savings – An autosave feature which allows users to save their money regularly by allowing them to set the amount of money to be moved from their bank accounts to their PiggyVest wallet at specific intervals.  

The Target Savings – This option is targeted towards saving for a particular purpose eg rent. Finally, the Save Lock -this is for people who intend to lock away funds for a long period of time. 

PiggyVest savings interest rate is between 10-15% depending on the savings option you choose to adopt. 


This is another wise way to keep your money away from you. This app allows you to invest, save and plan.  It exposes you to periodic saving plans that help you save your money regularly. It has a “Life goals” savings plan that allows you to save money for long term goals, a “Save as you Earn” plan- basically for those who don’t have regular income and can make deposits anytime, and Fixed savings for those long term savings. PiggyVest helps you save as a group with the Savings circle. The interest rate by Cowrywise is 10-15%.


It’s an online bank that helps you save your money. From reviews on App Store, this app scored a 4.8 out of 5 with over 74 ratings. 

Most people commended the UI while some others had things to say about its features. The most interesting feature is that the user receives two notifications when a transaction is made from their Kuda bank. It allows for a 15% interest rate at the end of the year.  One major problem with the Kuda bank is privacy, it basically has access to users gallery and photos without asking for permission.


With Alat, you open a digital bank and set a savings goal in terms of time and amount. The only drawback is that you get a debit card as you do with your regular bank account. As with traditional banks, ALAT charges a monthly debit card maintenance fee.

The interest of 4.2% is on the condition that an account holder does not withdraw more than 3 times a month. ALAT has some saving plans that offer up to 10%; one of it allows withdrawal of 50% of savings once in every 30 days while another doesn’t allow withdrawal.

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