PiggyVest vs Cowrywise: Which Is Better for Your Savings Goals?

If you’ve ever googled “how to save money in Nigeria,” these two names probably came up: PiggyVest and Cowrywise.
They’re the two biggest digital savings platforms in the country right now. But which one is actually better for you?
That depends on what your savings goals are.
So let’s break it down. Just facts.

1. How Much Interest Will You Actually Earn?

PiggyVest:

PiggyBank: Up to 18% per annum
SafeLock (fixed savings): Up to 22% per annum depending on duration
Flex Naira (withdrawable): 12% per annum
Flex Dollar: 7% per annum

Investify: Up to 35% per annum on investments.

Cowrywise:

Savings plans: 14% per annum depending on how long you lock it
Mutual funds available (higher risk, higher reward) - no fixed returns.

Dollar investments available - no fixed returns.

✅ Winner if you want flexibility: PiggyVest

2. Which Is Safer?

Both platforms are registered and regulated, licensed by the SEC.
Neither is a bank. So, your money isn’t insured by NDIC. But they both use solid fund managers, Regulated and uses best security practices.

✅ Winner?: This one is a draw for me.

3. Which App Is Easier to Use?

Both apps are clean. But:
PiggyVest is super beginner-friendly. You can start saving in 60 seconds.
Cowrywise feels more like an investment platform. It’s clean, but more numbers and charts.

✅ Winner?: Still a draw for me, but from an Interface POV, I'll personally go for PiggyVest. But we're dealing with facts here, Cowrywise is very simple as well.

Use the comments to air your views on this.

4. Charges and Withdrawals

PiggyVest gives you 4 free withdrawal from Flex per month - After that, you lose your interest for that month.
Free withdrawals ones a month, Early withdrawal from Piggybank = penalty (3.5% breaking fee)

Safelock? Not breakable.
Cowrywise lets you set your own maturity date. Withdrawals before that? Impossible.

✅ Winner for simplicity: Cowrywise
✅ Winner for flexibility on savings options: PiggyVest

5. Which Should You Use — Honestly?

If you're:
Just starting out with savings - Use PiggyBank by Piggyvest
Focused on building discipline - Use Cowrywise (I personally use Cowrywise when I started. No way to withdraw will help you see it through)
Looking to save in dollars - PiggyVest Flex Dollar
Wanting to test investments - Cowrywise Mutual Funds or Investify by Piggyvest

Here’s What We Use (and Why)

Most of us at TLS Club use both. Here’s how:
Emergency savings: PiggyBank for Easy access + interest
Fixed savings: PiggyVest SafeLock and Cowrywise Fixed Savings for High returns, + no room for temptation
Dollar backup: PiggyVest Flex Dollar for Inflation hedge
Investment trials: Investify for Small risks, long-term rewards

Final Take

It’s not a fight — it’s about choosing what works for your own goals.
Use PiggyVest if you want: A simple, structured savings flow. To lock money away safely. Dollar savings e.t.c.
Use Cowrywise if you want: A more “investment-like” experience, Mutual funds and deeper analysis, Full control over your saving dates.

You don’t have to choose one forever. Start small. Try both. See what fits and for what Purpose. For me personally, Higher interests or not, I start all savings on Cowrywise and only move funds when they're substantial for Big Locks.