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Top 10 Best Apps for Saving Money and Their Interest Rates

Saving money in Nigeria has proven to be an important factor in achieving your financial goals, providing security in times of need, and building wealth. Apps for saving in Nigeria have different interest rates and have helped people set a portion of their income aside before spending on other things. Whether it's an emergency fund, a vacation, a down payment on a home, or retirement, having clear objectives will motivate you to save.

In this article, we’ll be looking at the best savings apps in Nigeria and their interest rates.

Why every Nigerian should have a Money-Saving App on Their Phone

Saving money is a crucial financial habit that can help you in times of financial difficulties. While saving money is a gradual process and may take time to see significant results, the key is to remain consistent.

Every Nigerian should consider having a money-saving app on their phone for several reasons:


Money-saving apps make it incredibly convenient to save and manage your finances. With just a few taps on your phone, you can transfer money to your savings account, set up automatic savings, or monitor your progress.


Many money-saving apps have budgeting features that help you track your expenses, set spending limits, and analyse your financial habits. This can be instrumental in identifying areas where you can save more.

Goal Setting

These apps often allow you to set specific savings goals, whether it's for an emergency fund, a vacation, or a major purchase. You can monitor your progress toward these goals and stay motivated.


Automation is a powerful tool for saving money consistently. Saving apps let you automate your savings, ensuring that a portion of your income is regularly transferred to your savings account without manual intervention.


Reputable saving apps in Nigeria prioritise security and use encryption to protect your financial information. They are often more secure than carrying cash or managing physical savings accounts.

Access to High-Interest Savings

Some apps offer access to high-yield savings accounts or investment opportunities that can help your money grow faster than traditional savings accounts.

Avoiding Impulse Spending

Having a saving app on your phone can remind you of your financial goals and help you resist the temptation of impulse spending.

The Best Apps for Saving Money in Nigeria

Money-saving apps in Nigeria offer a wide range of benefits for Nigerians looking to improve their financial health and save for the future. By having a saving app on your phone, you can take control of your finances, set and achieve savings goals, and build a more secure financial future.

Below are 10 of the best savings apps in Nigeria.

1. Kuda Savings

A banking app designed for people with a busy lifestyle, Kuda Bank App helps you get the best out of your money. Saving on Kuda is as easy as downloading the app and creating an account. Saving on the Kuda app attracts a yearly interest rate of 3%.

2. UCARD Cloud Interactive Platform Limited

Ucard is a super app for businesses and individuals. So, whether you are trying to raise funds for your personal use or the next business project, the app has a product for you.

Saving money on UCARD, a product of Cloud Interactive Platform Limited, attracts a 3% Annual Percentage Yield (APY).

3. CSAdvance

CS Invest, one of the saving options of CSAdvance Finance Company Limited. With the CS Invest option, you can grow your money over a period of time and get unbelievable interest rates via your mobile phone. It comes at a zero per cent annual interest rate.

4. Letshego

On its LetGo App, Letshego Microfinance Bank has a Basic Individual Savings offer. The saving option has dual features of transaction and savings and is offered to individuals, businesses and sole proprietors. A positive yield interest curve starting at 2% is used for the Basic Individual Savings.

5. Primera

Primera Investment, a product of Primera MFBank, offers great returns, and security on Koins, its digital banking app. Koins allows users to reach their financial goals by saving easily with an automatic goal savings feature for any milestone of their choice and a daily earning feature with attractive interest rates.

It is a fixed deposit savings option that attracts an annual interest rate of 1%.

6. Renmoney

The Renmoney Fixed Deposits offers high-interest rates on your money at a 12% annual interest rate. Renmoney is a financial institution that provides microfinance services such as loans, savings and deposit funds.

7. VFD

VFD Savings from the VFD MicroFinance Bank gives users an opportunity to grow any amount by investing in a Fixed Deposit account. All they have to do is download the VFD Bank app and create a VFD account. The account offers an 8% annual interest rate.

8. Zitra Investment

Zitra is a banking app that provides investment solutions to help its clients grow their wealth and meet their financial goals. Its personal saving option, Zitra Pesado helps users invest for a more comfortable life while earning high returns. The interest rate on the account is 3% offered annually.

9. FairMoney

FairMoney, another prominent loan app, gives its users an opportunity to earn money when they keep money in FairSave. FairSave is a savings product designed to help people save and make money every day at an annualized interest rate of 14%.

The Ultimate Guide to Saving Money in Nigeria

Saving money in Nigeria, as in any country, is essential for achieving financial stability and reaching your financial goals. Here is the ultimate guide with top tips and tricks to help you save money in Nigeria:

Create a Budget

Start by creating a monthly budget that outlines your income and expenses. A budget helps you understand where your money is going and identify areas where you can cut costs.

Track Your Spending

Keep a record of your expenses to identify patterns and areas where you can reduce spending. Many apps and software can help with expense tracking.

Prioritise Saving

Make saving a priority by treating it as a non-negotiable expense. Allocate a portion of your income to savings before spending on other things.


Set up automatic transfers from your salary account to a savings account. This “pay yourself first” approach ensures that you save regularly.

Reduce Unnecessary Expenses

Cut back on discretionary spending. This includes dining out, entertainment, and impulse purchases. Cook at home and find free or low-cost entertainment options.

Avoid Debt

Minimise or outrightly avoid high-interest debt, such as credit card debt. Pay off existing debts and use credit responsibly to avoid interest charges.

Emergency Fund

Build an emergency fund to cover unexpected expenses. This fund can prevent you from going into debt when emergencies arise.

Invest Wisely

Explore investment options that can generate returns on your savings. Consult with a financial advisor to choose the right investment for your goals.

Remember to visit nairaCompare to get more information on savings apps in Nigeria and other investment options.

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