Top 10 Best Money Saving Apps In Nigeria (2023)

This post is about the top 10 best money saving apps in Nigeria this 2023. We will enlighten you on which investment apps are the best for you if you have decided to save money to be used at a much later date for something really important. You also have to be determined and ready to free up funds for savings and not be tempted to touch these funds at the slightest test.

Best Money Saving Apps In Nigeria

The financial sector in Nigeria has experienced a massive turnaround for the better and one way this positive change has impacted this sector is in the area of developing budgeting apps or personal finance apps that help people save up money for the rainy day without all the stress of going to the bank to experience long queues, fill up endless forms and provide so many documents for the purposes of opening a savings account.

While this is good and is still widely considered as a very safe practice, it is now not the only way by which people can save money as there are very trusted investment apps that have come to the fore, each, unique in their own way and offering their customers many benefits as they progress, making savings really fun at the click of the button without stress.

Nigerian Guide has put together 10 of the best and leading money saving apps for you to choose from should you decide to try any out. Kindly note that we are not affiliated with any of the companies listed and this post is purely informational. Before we proceed further, we will like you to understand that operating a digital piggy bank is very easy, safe and convenient and you can get decent rates on your savings as you make progress. That said, let us now take a close look at the leading money saving apps in Nigeria presently.


The following are the 10 best and most popular money saving/investment apps in Nigeria this 2023:


PiggyVest is arguably the most popular money saving app in Nigeria this 2023. I know a few people who use this app and from their experience, it is really safe and convenient for budgeting. They had only good things to say about the app. This investment app was launched on January 7, 2016 as a savings only platform under the name Piggybank, but it was rebranded in 2019, to PiggyVest.

The app prides itself as the first online savings and investment app in West Africa, offering customers direct investment opportunities. You can save any amount on the PiggyVest app and watch your money grow as a result of their offer of a unique 10-15% interest rate on savings and over 25% return on investment (ROI) for registered customers, as well as other amazing benefits on offer. The app is available on Google Playstore and Apple App Store for download or you can visit their website for more information.


In the Nigerian local parlance, kolo means piggybank, hence the name “KoloPay”. The money saving app, KoloPay, is another top investment app in Nigeria currently. Kolopay helps you easily save little by little towards your goals and you get up to 10% interest, all for free. The app is only available to android users on Google Playstore and will soon be made available to iOS users on Apple App Store.

When you sign up on KoloPay using your full name, phone number, email address and password, the next thing to do is to create your goal(s) with a name, amount you want to save and set a withdrawal date, then, you link your debit card to your saving goal and start saving money immediately.

Once this is done, you can grow your savings on the app as you so wish and this will attract a 10% interest annually when you lock your goals. The beauty about the KoloPay app is that it comes with a robust security feature that ensures that your funds are very safe and you need not worry about anything.

Other unique features on offer on the KoloPay app include the autosave feature that automatically saves a fixed amount either daily, weekly or monthly, the Easysave feature which enables you to save any amount at any time, and the Koloshare feature that enables you to invite people to contribute towards your goal.


CowryWise is another top money saving app in Nigeria. This personal finance app was launched in 2017, and it gives customers up to 15% on savings. With CowryWise, you can decide to activate the autosave feature with a specified amount periodically or you can use the one time savings feature to fund your account. Depending on what works for you, you are sure that your money is secure.

Cowrywise allows you to save as low as ₦100 and there is no specified maximum amount that you can put in, this means that you can put in any amount from the minimum savings cap and grow your money. The app accepts all debit/ATM cards issued by Nigerian banks.

Once you put in your desired savings amount, your savings are locked for a minimum duration of three months with no maximum time limit. Interest is paid on your savings everyday at midnight. Different savings options exist on the app and you can download it on Android and iOS devices via Google Playstore and App Store to check out which option best suits your need.


ALAT by WEMA is the first fully digital savings Bank in Nigeria and one of the leading money saving apps in the country as well. This investment app, developed by WEMA Bank Nigeria is very secure and trusted, and it allows you to perform all transactions with commercial banks, and save your money as well which is the most important reason why you’re downloading it on your mobile device.

This money saving app was launched in 2017, and has since become very popular among its many users. Your ALAT account is a digital bank account that can be opened within minutes, and it enables you to set a savings goal in terms of time and amount.

Banking with ALAT allows you to receive a physical debit card to in order for you to make cash withdrawals, but you can choose to delay or forgo this option as your goal is to save money, not spend it. Android and iOS users can download this app.


SumoTrust was originally launched as SumoBank, it is an automated savings and investment platform that helps to reshape the poor saving and investment culture of Africans, especially Nigerians. With SumoTrust, you can choose to save and raise money for something or invest your money to earn profit returns annually.

The app also provides customers with savings and investment features as well as 10%-15% returns on savings per year. SumoTrust users can save as little as ₦100 per day and set InstantSave withdrawal periods, and with their Fix Saving option, you can lock away funds until you need it after one year. You can download the app on Google Playstore or Apple App Store depending on your device.


The Carbon money saving app is one of the most popular apps for saving your money in Nigeria today, it is also one of the best loan apps in Nigeria as well. As a money saving tool, this money investment app top security, and you can invest as low as ₦1000. With the Carbon money saving app, you can earn up to 16% interest per year on your savings.


The Kuda Bank money saving app is an investment app operated by Kuda Microfinance Bank and they are licensed to operate by the Central Bank of Nigeria (CBN). This makes sure that your money is safe when you use their money saving app. This particular investment app helps limit your spending habits, ensuring that you save more and be very intentional about your financial decisions. Kuda offers up to 15% yearly interest on your total savings, and they have features such as: Flexible Savings which helps you to save up to your goals while making up to 10% interest at the same time; and Fixed Saving where you can earn up to 15% interest for a defined period of time.


The Trove money saving app is one of the best apps in Nigeria for your savings and international investment. This app enables many Nigerians to save and also invest in foreign companies. With the Trove money saving app, you can invest as low as ₦1000 and grow from there. The app is very secure and you can download it on Google Playstore or Apple Appstore to find out more.


With the Kudi money saving app, you are rest assured that you’ve got the best savings and bill settlement app on your mobile device. Kudi of course, means ‘money’ in the Hausa language, now you see why the company decided on this name. With the Kudi money saving app, you can do much more than just saving some of which include making very quick cash transfers, paying subscription bills, utility bills, buying data, to mention but a few.


The VestPay app is an optimum smart way to save toward your goals, pay bills, get loans and invest. VestPay helps you easily create and start an effortless savings structure and culture, gradually towards your goals with 15% interest per annum. Features of VestPay include; Regular Savings, Savings Targets (Fixed Deposit), Vestbanking (for Investments), Credit Facility (Loan App), Payments, VestCash (Cash withdrawal and deposit) and VestDrive (cab hailing for inter-regional travel). More features and updates will be deployed as technology evolves.

The Author

Maduawuchi Obialo

Maduawuchi Obialo is the founder of Nigerian Guide and the Editor-in-Chief at Nigerian Infopedia. He is a professional Web Content Developer and a Biochemist.

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  1. Thanks, this information was very helpful thank you…. 🙏🙏🙏

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