Home Finance Piggyvest and Cowrywise: which is better?

Piggyvest and Cowrywise: which is better?

Piggyvest and Cowrywise are two renowned financial technology (fintech) platforms that have gained immense popularity in Nigeria. They both offer an features designed to assist users in saving and investing their money wisely.

In this comparison, we will go into the details of Piggyvest and Cowrywise to help you make an informed decision about which platform suits your financial goals and needs.

What is Piggyvest?

Piggyvest, often referred to as the “savings made easy” platform, is a financial platform that primarily focuses on helping users save money systematically. It allows users to set up automatic savings plans, making it for individuals to put money aside for future goals and emergencies. 

What is Cowrywise?

Cowrywise, on the other hand, is a versatile platform that offers both savings and investment options. This fintech platform is designed to cater to individuals who are not only looking to save but also wish to explore various investment opportunities. With Cowrywise, users can save, invest, and grow their wealth all in one place.

Benefits of using Piggyvest and Cowrywise

Let’s explore the advantages of using these platforms:

High Interest Rates

Both Piggyvest and Cowrywise offer competitive interest rates on both savings and investments, which can significantly boost your wealth over time.

Flexible Withdrawal Policies

Piggyvest allows users to withdraw their funds at any time, providing liquidity and flexibility. On the other hand, Cowrywise has a more controlled withdrawal policy, encouraging users to commit to their long-term financial goals.

Many Investment Options

Cowrywise takes the lead in terms of investment options, offering a more extensive range of investment opportunities compared to Piggyvest. This diversity can be appealing to those looking to diversify their investment portfolio.

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Security is paramount when it comes to financial platforms, and both Piggyvest and Cowrywise prioritize user data protection and the security of financial transactions.

Good Customer Support

In case you encounter any issues or have inquiries, rest assured that both Piggyvest and Cowrywise offer excellent customer support to assist you promptly.

Comparison of Piggyvest and Cowrywise

Now, let’s go deeper into the critical aspects to consider when comparing these two platforms.

Interest Rates

Piggyvest and Cowrywise offer competitive interest rates, but the specific rates may vary based on the type of savings or investment product you choose. 

Generally, PiggyVest offers a 10% interest rate per annum on its Piggybank savings account. This means that if you invest 50,000 Naira in your Piggybank, you will earn an interest of 5,000 Naira per year.

Withdrawal Policies

Piggyvest allows users to withdraw their funds at any time without stringent restrictions. In contrast, Cowrywise encourages users to commit to their savings and investments by imposing more controlled withdrawal policies.

Features and Benefits

Both platforms offer different features and benefits to enhance your finance. Piggyvest focuses on savings automation, while Cowrywise offers a more comprehensive suite of services that includes investments, savings, and financial planning tools.


Security is a top priority for both platforms. They employ r security measures to safeguard your personal and financial information. You can trust that your data and transactions are protected.

Customer Support

Both Piggyvest and Cowrywise provide reliable customer support to assist you with any inquiries or issues you may encounter while using the platforms.

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Which is Better: Piggyvest or Cowrywise?

Determining which platform is better for you depends on your specific financial goals and preferences. Here are some considerations to help you decide

  • If you prioritize high interest rates and the flexibility to withdraw funds whenever you want, Piggyvest is an excellent choice.
  • If you are looking for a platform with a broader range of investment options and are willing to commit to a more controlled withdrawal policy, Cowrywise may be better suited to your needs.

However, the best way to make a decision is to try both platforms and assess which aligns better with your financial objectives.

My Recommendation

While both Piggyvest and Cowrywise have their merits, I recommend assessing your financial goals and risk tolerance. Piggyvest is an excellent option for those who value simplicity and flexibility, while Cowrywise caters to individuals seeking an investment opportunities.


Is PiggyVest approved by CBN?

Yes, PiggyVest is approved by the Central Bank of Nigeria (CBN). It is licensed as a microfinance bank (MFB) and is regulated by the CBN.

Is Cowrywise good for saving?

Yes, Cowrywise is a good platform for saving money in Nigeria. It offers a variety of savings products. 

How long does Cowrywise withdrawal take?

Cowrywise withdrawals typically take 24 hours to process. This means that you will see the money in your bank account within 24 hours of initiating the withdrawal.

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