Seven best free money-saving apps in Nigeria

Seven best free money-saving apps in Nigeria

July 28, 2021 0

Money-saving apps help to make your saving journey easier. Having your savings plan intact is essential as it helps in cases of financial emergencies. Gone are the days when saving entailed stacking up a lump sum and being caught up in a long bank queue. With constant technological advancements, several free money-saving apps have been developed to make the process easier.

Let’s take a look at the best free money-saving apps in Nigeria to try out today.


Launched on the 7th of January, 2016, PiggyVest is the first online savings and investment app in West Africa. What was once a savings-only app has grown over time to offer investment opportunities to its users. This function is in addition to its savings plan. PiggyVest is one of the best free money-saving apps that allows users to save as low as 50 Naira daily. There is no limit to the maximum amount you can save on this app.

With PiggyVest, customers get between 10-15% interest on savings made. In addition, the return on investment is over 25%.

Seven best free money-saving apps in Nigeria
Start using money-saving apps today

Features Of PiggyVest

Target Savings

PiggyVest target savings allows you to save towards a particular goal. Examples of such goals are rent, getting gadgets, travel, e.t.c. You can add some fun to the mix by inviting your friends to join in the challenge and smash their goals too.


If you’re looking to set aside an amount for a stipulated period, the SafeLock option is the best bet. The purpose of the SafeLock is to prevent you from accessing the locked funds before the stipulated period as fixed by you.

Flex Dollar

With Flex Dollar, you get to preserve the value of your money. In other words, you can save in foreign currencies like Dollars to prevent losing value on your savings.

Piggybank Wallet

The wallet is suitable if you need to save some money and withdraw quarterly. You get to determine how much will be automatically debited from your account and credited to your Piggybank Wallet.


Formerly Pettysave, Jetseed is a saving app that helps you manage your finances to achieve your financial freedom. It helps you save and invest more smartly and safely while earning between 10 to 50% returns.

Jetseed Saving Plans

Target Save

Need to save for things like school, car, vacation, e.t.c? The “target save” feature has got you covered. You can achieve your saving goals while earning up to 10% interest.


Vault allows you to secure excess funds in the form of fixed deposits to earn more interest. Depending on the length, you can earn up to a 12% interest rate.

Auto Save

With auto save, you automatically save a fixed amount that will be deducted from your bank account. It could be daily, weekly, or monthly, depending on your interest.


Another app on the list of best free money-saving apps is Carbon. Not only is Carbon one of the best apps for quick loans, but it also tops the list for savings. Carbon app is used not just in Nigeria but also in other countries where the app is recognized. Just like other great saving apps out there, Carbon is licensed by the CBN, thereby guaranteeing the safety of your money. One great thing about Carbon is that whatever your saving goals are, there are plans that cater to your needs.

Carbon Features

Cash Vault

Carbon Cash Vault is a fixed deposit account that lets you lock away funds for a fixed period. It doesn’t end there. You also earn 11% on any investment you venture into, starting from N500,000.


This feature grants you the luxury of adding to your account as you deem fit. With FlexSave, you earn up to 9% on your investments.


With Carbon goals, you can set daily, weekly, or monthly saving targets. It begins with as low as N100, and you earn an interest rate of as much as 9.5% when you complete your goal.


SumoTrust is a highly-trusted saving app in Nigeria that lets you earn 10 to 15% on your annual savings. With SumoTrust, you can save, withdraw, and plan your savings in a way that’ll meet your financial goals. You can begin your savings with a minimum of 100 Naira and a maximum of 500,000 Naira monthly on this saving app. For all your transactions, you get to withdraw for free. However, every transaction outside of your fixed withdrawal date attracts a charge of 4.5% of the amount withdrawn.


Main Savings

Here, you get to choose your saving intervals. It can be daily, weekly, or monthly. You also earn 10% interest per annum.

Fixed Savings

You can securely lock away your funds for a long period, usually up to a year. The interest rate annually is 15%.

Missions Savings

This plan is suitable if you’re looking to save money for a particular project. You’ll set your target and begin saving until you meet your target.


Launched in 2018, Kuda is one of the best free money-saving apps in Nigeria. With its financial technology, it allows users to save money effortlessly across different platforms. Kuda allows you to either save manually or automated at intervals. All these are done at your desired pace.

Kuda Features

Fixed Savings

Fixed savings allows you to save a lump sum of money for a while, after which you earn up to 15% interest.

Flexible Savings

Flexible savings allow you to save towards a set goal while earning an interest of up to 10%.


Every time you spend money from your Kuda account, the spend + save feature automatically saves money for you. All you have to do is set a fixed percentage to save whenever you spend.


Seven best free money-saving apps in Nigeria
Saving is very important to SMEs

As the first fully digital savings bank in Nigeria, ALAT By WEMA app is trusted and secure. Not only do you perform all your commercial banks’ but transactions, you also get to save while at it.

How to create a savings goal with ALAT

  • Login to your ALAT App
  • Locate Savings and click Goals then click New Goal.
  • Name your goal.
  • Pick the goal type (Flexi or fixed).
  • Decide the amount of money you want to save.
  • Set the target date for achieving the goal.
  • Set the date to begin saving.
  • Pick your saving frequency (daily, weekly or monthly).
  • Pick the account money will be saved from.
  • Click Create Goal.


If you’re looking for the best free money-saving apps, Vestpay is one app to be considered. Vestpay enables you to earn financial freedom by putting your funds to work. With this app, you earn up to 15% interest per annum on your savings while interest is paid monthly.

Benefits of VestPay

  • With Vestpay, you can save and earn 15% of your investment yearly.
  • Unlike some other saving apps, Vestpay does not charge you for withdrawals.
  • In addition to saving, you also earn a referral fee for every referral you make.


There you have it, some of the best free money-saving apps in Nigeria at your disposal. That only means one thing, you no longer have an excuse not to save. All these apps are free to use and are suitable for both Android and iOS devices. Which of these apps do you currently use or plan to use? 

Alara Charis
Alara Charis
Alara Charis
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