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Piggybank ng Review: How to save and make money with Piggyvest

how to save and make money with piggybank ng

We have all experienced it, that moment when we needed money all of a sudden for something very important, yet there was no money, because we had no savings for rainy days. Perhaps that was why piggybank ng, now Piggyvest was created, to help us with our negligent money saving culture in Nigeria.

What is piggybank ng?

Piggybank ng is an online savings platform which provides an opportunity for people to save money in different ways and an opportunity for people to earn money via the Piggybank referral program, interest payment and piggy points.

I remember when I was young and my mother used to have this brown box which she used to keep money. We called it kolo and it had a small and thin hole for pushing thin naira notes in and she usually locked it with a padlock. Anytime she had any extra money, she would tuck it into the box and on days when there was no food in the house, she would fish out the padlock key and we’d spend time counting the money saved in the box which was sometimes up to 5000. It was usually amazing to us that all those little N50, N100, N200 and N500 could become so much in so little time. is a saving box of sorts, but rather than a physical one, it is an online saving box or kolo where you can save money directly from your bank account.

It allows people to save as little as N100 everyday via Paystack and then restrict when they can withdraw their earnings between 10 to 1000 days. You can also save part of your salary as soon as you get it on Piggy bank ng with the Quick Save Feature and get 10% interest on it when you’re ready to withdraw it.


Piggybank Nigeria is now PiggyVest

Piggybank ng has grown over the years to become a community of almost 200,000 registered people saving up to one billion naira in January 2019 alone. In February, the team announced that they would be changing the name from Piggybank to PiggyVest even as they add more safe and secure investment features to help Nigerians manage their finances.

PLEASE NOTE: I will be using Piggybank ng and PiggyVest interchanageably since they are one and the same so when you see PiggyVest, it’s the same thing as Piggybank.

Piggybank ng founders

Piggy bank ng was started by Somto Ifezue, Odunayo Eweniyi and Joshua Chibueze who met at Covenant University, Nigeria in 2016. After working on different startups and businesses for almost eight years, the trio decided to cater to the very important but neglected saving needs of Nigerians and Africans.

Now that you know who owns piggy bank ng, let’s discuss how safe and legit piggybank ng is.

Is safe? Is piggybank ng legit?

Many people have been asking questions like:

  • how real is piggybank ng?
  • how legit is piggy bank ng
  • Is piggy bank nigeria safe?, etc.

Well, based on my research on the internet as well as personal experience with piggybank Nigeria, I have come to the conclusion that PiggyVest is safe. After all, the savings platform has been available since 2016 which is three years ago, and we’ve never heard that someone’s money went missing or was stolen on piggybank, Nigeria.

Here are other reasons why I think Piggybank ng is legit:

1. is a registered product under PiggyTech Global Limited.

2. They own a Gold Microfinance Bank Limited licensed by the central bank of Nigeria.

3. They have a physical office address in Lagos: No. 16, Boyle Street, Lagos Island, Lagos, Nigeria.

4. There’s also the fact that I have friends that save money with piggy bank ng and friends who make money with piggyVest via their referral program which we will still talk about.

5. All saved funds are warehoused with and managed by AIICO Capital, the leading asset management company in Nigeria, registered and licensed by the Securities and Exchange Commission (SEC) which is extremely safe and guaranteed. A portion of the proceeds is then passed on to users as interests on their savings.


How piggybank ng works: how to save money with

Similar to having a kolo or piggy bank for saving money, Piggyvest allows you to put away your savings directly from your bank account. So let’s assume you just received your salary of 25,000 naira, you can decide to put away N10,000 in your piggybank account straight from your piggybank ng app now called Piggyvest app.


Piggyvest/ Piggybank ng features to help you save money

1. AutoSave

If you want to preserve the culture of saving daily, weekly or monthly, has an auto save feature that allows you to set auto-debits from your bank account to your Piggyvest saving accounts daily, weekly or monthly.

In other words, if you want to save N2000 weekly, you can set a time, say Friday by 8am for Piggyvest to add N2000 to your online Piggyvest wallet which means by the end of the month, you would have saved N8000 and by the end of the year you would have saved N96000 minus the interests that would also accumulate.

2. Core Savings/ Piggybank Savings

With core savings, you can save any amount of money let’s say N5000 and choose the number of days you want to keep the money in your account.

To teach you discipline, once you’ve saved money for a month and set the day of your withdrawal as let’s say May 1, 2019, withdrawing before May 1 will cost you 5% of the money you’re withdrawing. Which means if you saved N5000 till May 1, if you attempt to withdraw your 5000 naira in March, you will forfeit N250.

3. SafeLock

Safelock is an investment program which allows you to earn up to 13% per annum paid up front. With Piggybank Safelock, you transfer funds from your Piggybank balance for a minimum 90 days and above. The money transferred to your Safelock sub account will be unavailable to you till the end of the days you’ve chosen.

This means that if you decide to keep N50,000 in safelock for 90 days, you can’t touch it till the 90 days are over.

Also, you can have more than one Safelock savings and you can also label them for different purposes like (School fees, Wedding party, etc.) and the minimum amount you can safelock is 1000 naira.

4. Target Savings/ Group Savings

Target savings is suitable for short-term savings. You can create a personal target or even a group savings challenge where once you meet 70% of your target at the withdrawal date you have set, you can withdraw the money to your PiggyFlex account and withdraw it to your bank account afterwards.

P.S: if you’re wondering what a PiggyFlex account is. It is the sub-account where your interest earnings are paid to. It is also an account from which you withdraw directly to your bank.




How to make money with piggybank ng

There are four ways you can make money with piggyvest/ piggybank nigeria:

  1. Get N500 from your first savings of at least N1000
  2. Make money from interest on funds placed in your online Nigerian piggy bank
  3. Make money with Piggy Points
  4. Make money with the Piggybank referral Program


1. Get N500 from your first savings of at least N1000

When you do your piggybank ng registration with the piggyvest android app or on the website with my phone number (08094254255) as your referrer phone or code, you automatically earn N500 which is not accessible to you till you activate your account. You will need to activate your piggybank account with your first savings deposit of at least N1000 via mastercard, visa or verve from any bank in Nigeria with no bank charges deducted.

2. Make money from interest on funds placed in your online Nigerian piggy bank

You earn interest on the money you’ve saved on the different piggybank savings plan.

On Core savings or Piggybank savings, you can earn up to 10% per annum. Interests are accrued daily and paid monthly. You can access your interest from the first of every month).

On SafeLock, you can earn over 13% per annum which is paid upfront into your Flex account and you can access it immediately for free.

On the Target and Group Savings plan, you earn 10% per annum which is paid daily into your Flex account and can be accessed immediately for free.

3. Make money with Piggy Points

Piggy points is a small reward system set up by PiggyVest as a way of rewarding piggy bank users.

The points are stacked this way:

N2000 – N4999 = 1 point

N5000 – N9999 = 2 points

N10000 – N49999 = 10 points

N50000 – N99999 = 25 points

N100000 and above = 55 points

And 1 point converts into N10.

4. Make money with the Piggybank ng referral Program

Piggybank ng referral program is pretty simple once you understand it and the best part is that it is free. Unlike online news website, there is no need for you to pay any one time payment, just deposit at least N1000 in your core savings account which you can withdraw anytime you want (terms and conditions apply).

The Piggyvest referral program is called Piggybank stories.




How Piggybank ng referral program works: The full steps to making money with piggyvest referral program

STEP 1: Register with my piggybank ng affiliate link or add my phone number (08094254255) as your “referrer phone” and get N500.

STEP 2: Make your first saving of at least N1000. I, as the person referring you can only earn N500 when you, my referral saves at least N1000 in your core savings.

STEP 3: Afterwards, you will be qualified to add your own piggybank story of how piggy bank is helping you save which is a testimonial of sorts of the authenticity of Piggybank Nigeria/ Piggyvest.

Share your Piggybank story and wait for it to get approved. Mine was approved within twelve hours.

STEP 4: After your piggybank ng story is approved, you get your own unique affiliate link.


You can download the Piggybank ng apk or iOS and get your link fast. You also have the option of telling people to use your phone number as their referral code.

STEP 5: Please note that this affiliate link will not work if you have not deposited at least N1000 in your core savings.

WARNING: You’re required to bring in people who are interested in saving money in Piggybank/PiggyVest because it will affect you if you bring in recruits who refuse to save money.



For those with iOS and Android phones, you don’t have to transact on Piggybank nigeria/ Piggyvest via the website. You can do all that is needed via the piggybank ng app: Save money, make money, etc.

You can download iOS app which is called PiggyVest app with this link.

You can download the Piggybank ng apk which is called PiggyVest apk with this link.



STEP 1: Use my affiliate link to register or simply click the “create account” button on the app or website to start your piggybank ng registration and use my phone number as your “referrer phone or referrer code”.

STEP 2: You will be directed to where you can create a secure account. From here, you fill in your details.

Step 2 piggybank ng registration

Where you’re asked to fill in a referrer phone, you add my phone number: 08094254255

And choose: Friends/Family/Coworker Referral to fill “How did you hear about us”

add my phone number as your piggybank referrer phone

STEP 3: You can now add your personal details.

step 3 Add your piggybank ng details

STEP 4: You will be allowed to add your bank details. Please note that it is preferable if your bank account name correlates with the name that you used to register in Step 2.

Step 4 add your bank account details to piggybank ng

STEP 5: It is time to activate your piggybank account by depositing at least N1000 to your piggybank account.

STEP 6: You deposit with paystack using the numbers on your atm card which can be master card, verve or visa.

And don’t worry, your card and account details are safe. At PiggyVest, your security is their priority. Your card details are extremely safe as they are never stored on PiggyVest. They work with a PCIDSS-compliant payment processor which is Paystack to handle your card details.

step 6 deposit into your piggybank account using paystack

An OTP code will be sent to the number you used for registration. You will insert it where requested.

Add the otp code sent to your phone number to confirm you piggybank ng saving deposit

After you confirm the deposit via your pin code, you’re done with your piggybank ng registration.

STEP 7: You will be directed straight to your piggybank Autosave page from where you can arrange the settings of your Autosave account to suit your savings needs. You can choose to save daily, weekly or monthly.

If I were you, I’d take advantage of this opportunity given to me by PiggyVest to save money and earn interest on it because the truth is that the only way someone can become rich is by saving money. If you spend every single naira that falls into your hand, then you will and can never ever be rich.

STEP 8 (optional): Add your piggybank story or testimonial.

This step is optional and it only applies to people who want to make money with the referral program.

step 8 Add your piggybank ng story

Once you get to where you need to add your piggybank story, please be aware that the story is going to be reviewed. Which means you can’t drop stories like: “I like piggybank, I will save with piggybank” or worse, a story like: “Nice”

You have to write a well thought out statement promoting saving money with PiggyVest. This means that you cannot talk about making money with the piggybank Nigeria referral program, you’re only going to be talking about saving money with piggy bank ng or PiggyVest.

just give a testimonial of saving money with piggybank ng

It is also best if you add your picture to the avatar of your story to get approved.

And then you save your story and wait for your piggybank story to be approved, you will be notified with an email if it is.

Earlier, you might have had to wait for your piggybank story to be approved but now you don’t have to, you just have log in via the PiggyVest app and you’ll see your link or give people your phone number to use as their referrer’s phone or code.

Wrapping things up,

I hope that you will embrace this opportunity that Piggybank ng is giving you to both save money and make money as well.

Don’t procrastinate on this stuff, sit up and start saving today.

Thank you for reading!

Please leave a comment and ask any questions you may have.

How Piggyvest Referral Works
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Leave a Reply


  • Reply
    June 9, 2019 at 3:45 pm

    I have so much heard about this PiggyVest, thanks so much for the review

  • Reply
    July 30, 2019 at 8:53 pm

    I currently use for my savings and they pay 10-15-% PA….

    I have also heard so much about this PiggyVest, but not sure since I’ve not used them.

    Can you also share your Opinion about Sumobank savings platforms too?

    • Reply
      August 30, 2019 at 10:23 am

      I haven’t tried Sumobank so I really don’t have anything to say about them. Thanks for visiting!

  • Reply
    ikoh emmanuel
    August 7, 2019 at 2:37 pm

    please i was wondering how much i would be making from referral

    • Reply
      January 24, 2020 at 4:25 am

      The piggyvest referral earnings fluctuates between N500 and N1000 based on how much the Piggyvest team is willing to give out. However, right now, the piggyvest referral bonus is N1000

  • Reply
    November 6, 2019 at 6:23 am

    WOW i’m thrilled reading this post, it very thorough and explanatory, i’m a blogger as well and believe me it is not an easy job to write something as cool as this.
    Keep it up man.

    • Reply
      January 24, 2020 at 4:19 am

      Thank you

  • Reply
    January 5, 2020 at 4:18 pm

    Can I save 100 daily?

    • Reply
      January 24, 2020 at 4:16 am

      Yes you can

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