First published on 24th May 2025
Saving money as a Nigerian is a full-time job. Prices are going up every other week, and our income doesn’t cover everything.
That’s why savings apps have become a lifeline; they make saving something you can actually keep up with.
But with so many apps out there, which one should you trust with your money?
Which one fits your lifestyle?
And which one will reward you for your discipline?
This guide breaks down five of the best savings apps in Nigeria, their standout features, who they’re best for, and how you can choose the one that genuinely works for you.
What You Should Consider Before Choosing a Savings App
Before we jump into the ranking, here are the things every Nigerian should check:
1. Interest Rates
A great interest rate is nice, but what’s the net?
After taxes and deductions, what will actually enter your account?
2. Your Saving Style
Are you the “lock it and forget it” type?
Or do you need access just in case life throws you one of its usual surprises?
3. Trust, Security & Regulation
Is the app backed by a licensed financial institution?
Is your money insured?
How long has the organisation been around?
4. App Features That Support Your Lifestyle
Daily savings? Weekly? Goal-based? Kids’ savings? Automation? Withdrawal limits?
All these matter more than people think.
Once you’re clear on these, it becomes easier to pick the best savings app in Nigeria for 2025 and 2026.
Top 5 Savings Apps in Nigeria
1. Jollof+ by Baobab — Best for High-Interest and Goal-Based Saving
If you’re the kind of person who likes structure and wants your money to grow aggressively, Jollof+ is a strong contender.
It’s powered by Baobab Microfinance Bank, a trusted institution with years of experience serving Nigerian customers. And the interest rates? Impressive.
What you get:
- Up to 21.6% net interest per annum when you lock your funds with JollofLock
- Goal-based savings like Ajo+ (up to 16.5% net) and BabyBox (up to 15.5% net)
- Automated daily/weekly savings
- Clean, simple interface
- Your funds are regulated and insured by NDIC and CBN
Who this is perfect for:
People who want serious returns and a system that helps them stay disciplined.
What to keep in mind:
If you love withdrawing at the slightest temptation, locked plans may feel strict but the returns make the discipline worth it.
2. PiggyVest — Best for People Who Want a Balance of Saving and Investing
PiggyVest is popular for a reason. It gives you a balanced experience, some flexibility, some locking, plus investment options.
Highlights:
- SafeLock offers up to 22%
- Flex savings with easier access
- Target savings for goals
- Investment options if you want to diversify
Best for:
People who want everything in one place, save, lock money, invest, and withdraw occasionally.
Keep in mind:
The higher interests usually come with locking your funds. Flex options earn less.
3. FairMoney — Best for People Who Love High Yields and Fast Setups
FairMoney started as a loan app but now offers strong savings options too.
You’ll find offers like:
- Promotional rates of up to 30% for new users
- Daily and fixed savings
- Instant account opening and smooth onboarding
Best for:
People who love trying new things, chasing high yields, or exploring welcome bonuses.
Keep in mind
Promotional rates don’t always last. Always check the terms.
4. Cowrywise — Best for Young Professionals Who Love Structure
Cowrywise appeals to people who like clean organisation, financial planning and investment options.
What they offer:
- Savings plans with 8–15% depending on the plan
- Mutual funds and diversified investments
- A clean, carefully designed interface
Perfect for:
People who want to grow their savings and dip their toes into investing without stress.
Keep in mind:
If high interest is your priority, others may offer more, but Cowrywise shines in structure and planning tools.
5. ALAT by Wema — Best for People Who Want Full Digital Banking
ALAT is great if you prefer an established bank and want digital banking plus savings in one place.
Features include:
- Group savings
- Challenges
- Fixed and flexible plans
- Full banking features on the app
Perfect for:
People who want a digital bank that also helps them save.
Keep in mind:
Interest rates are usually lower than what pure savings apps offer, but the convenience is solid.
Final Thoughts
Savings apps have made it easier than ever to stay disciplined and build wealth. Whether you're saving for rent, detty December, a car, a new phone, or just peace of mind, the right app can make your journey faster and more rewarding.
And if you want strong returns, easy goal-saving, and the reassurance of banking regulation behind your funds, Jollof+ is definitely one to consider.
Frequently Asked Questions (FAQs).
1. What is the best savings app in Nigeria in 2026?
It depends on your style. For high returns; Jollof+ stands out. For saving and investing, PiggyVest and Cowrywise work well.
2. Which app gives the highest interest rate?
Apps like Jollof+, PiggyVest SafeLock, and FairMoney often offer some of the highest rates. Always compare net rates.
3. Which app is best for daily savings?
Jollof+ is great for automated daily savings and works well for structured daily or weekly plans.
4. Are savings apps safe?
Yes, when they’re backed by licensed institutions. Jollof+ runs under Baobab MFB, regulated by CBN and insured by NDIC.
5. Which savings app is good for beginners?
Jollof+ is beginner-friendly.
6. Which app is best for long-term saving?
Jollof+ (JollofLock), PiggyVest SafeLock, and FairMoney fixed plans work well for long-term goals.
7. What should I consider before choosing a savings app?
Check interest rates, flexibility, locking terms, fees, regulation, and the features that support your saving habits.
8. Are savings apps better than banks?
They usually offer higher interest and better automation. Digital banks like ALAT give you both banking and savings in one app.
9. Can I withdraw anytime?
You can with flexible savings. Locked plans give higher returns but restrict withdrawals until maturity.
10. Which app is best for goal savings?
Jollof+ (Ajo+ and BabyBox) is strong for goals. PiggyVest and Cowrywise also offer goal-saving features.
11. What app should I use for big goals like rent or a car?
Goal-based plans like Jollof+ Ajo+ keep you disciplined and growing your money.
12. Which app is best for students or young people?
Cowrywise and Jollof+ are great for small, consistent contributions. PiggyVest also works well.
13. Do savings apps charge fees?
Most don’t charge to open an account. Early withdrawals from locked plans may attract penalties.
14. Can I use multiple savings apps?
Yes. Many people use one for flexible savings and another for locked, high-interest plans.
15. Which app is best for children’s savings?
Jollof+ BabyBox is built for children’s savings. Other apps allow separate goals for kids, too.
