General
Why SaveVest?
Savevest helps make saving and investing seamless. SaveVest takes away the stress and planning required to save and invest on a regular basis through its automated and easy-to-use platform. Your savings also generate interest, up to 5% per annum, till a set maturity date.
Why should I save on SaveVest?
SaveVest is suitable for anyone who:
- never want to miss their saving and investment goals again.
- wants to save and invest even while they are asleep.
- wants the discipline to keep their savings and investments for a long period of time without tampering with them.
- wants to plan their financial goals with easy-to-use financial tools.
How are you able to offer higher returns than traditional banks?
We do not have the high-cost base of traditional banks. Our operations are lean, driven by our proprietary technology. We invest in our customer’s funds in risk-free instruments offered by the Central Bank of Nigeria, Nigeria’s Debt Management Office (DMO), FGN Bond, and a few low-risk investment opportunities such as corporate bonds and high-quality commercial papers. These cost savings are passed to our customers in the form of higher returns.
What kind of debit cards can I use on SaveVest?
SaveVest accepts debit cards issued by all Nigerian banks.
Savings & Returns
How much can I save on SaveVest?
You can start your saving plans with as low as ₦5,000 (Five Thousand Naira). However, if you are saving or investing over a million, SaveVest will require you to provide additional documents. We are doing this to protect you as our customer and to guide you against money laundering.
What types of savings and investment plans are available on SaveVest?
- Regular Savings: With this, you can set your savings plan to be weekly or monthly for a minimum of 6 months. You need only to specify this once during the setting up of your plan and SaveVest will ensure this money is saved automatically on those specified days into your SaveVest savings plan. You can also choose to manually top up your savings plan randomly with other amounts outside the automated scheduled amount.
- Target Savings: This plan allows you to meet your savings goals. We help you save for future events in your life such as your House rent, building a property, children’s education, helping you save to buy a car, savings towards a vacation, or just providing the means to buy what you have always dreamed of. These plans help you meet commitments to long-term financial goals. These are similar to periodic plans but they have a minimum maturity period of 1 year.
- Future Savings: Prepare for a happy retirement through a financial plan that is convenient for you and meets your future financial plans. Just start to save and prepare financially for your happy retirement. The Savings Plan gives you peace of mind about future expenses. And if something happens to you and you can’t earn the fund saved, your beneficiary will be contacted after all documentation.
How many saving plans can I create?
You are permitted to create all the 3 Savings plans i.e. Regular Savings, Target Savings, and Future Savings.
How long can I keep my savings and investment with SaveVest?
There is a minimum duration of 180 days and no maximum time limit.
You can keep your savings and investment with us for as long as you wish. We make every day count by making your plans earn returns daily.
What rate of return do I earn on my plans?
We offer you a minimum of 5% per annum and this return accrues to you on a daily basis. You can earn as high as 10% per annum on longer durations. This compares with less than 1% that banks give to your savings account.
How do my earnings accumulate on SaveVest?
For every plan created on SaveVest, there is a maturity period assigned to it. For each maturity period range, there is an attached interest rate. This can get as high as 10% per annum. Remember, we make every day count by making your savings earn returns daily. This is done by prorating the annual interest rate attached to your plan. That is, a daily breakdown of the annual interest rate is paid on the available balance in your plan(s) each day. Also, as big fans of compound interest, your returns compound annually or whenever you roll over your plan after maturity.
Can I put my automated plans on hold?
Yes, you can.
Simply select the plan you wish to place on hold.
Tap “Edit”.
Tap “Plan Status” to toggle between “Active” and “On Hold”
Select “On Hold”
Finally, tap “Save” to save the changes you’ve made.
When does my saving begin to earn returns?
Your plans start to earn returns the following day after you begin saving on SaveVest and on a daily basis thereafter. Your daily returns are credited to your SaveVest account every day.
Can I monitor my savings and returns?
Absolutely. Our dashboard was designed with this objective in mind. You can monitor the progress of your savings and investment plans and returns on a daily basis on our easy-to-understand dashboard. On the dashboard, you can view the following:
Balance: a sum of your current savings and current returns.
Current Savings: the total amount of savings you currently have in your SaveVest account.
Lifetime Returns: the total amount of returns you’ve earned since you create a SaveVest account.
Current Returns: the total amount of returns you are yet to withdraw.
Also, we also push instant notifications to your verified email address and phone numbers for key transactions on your SaveVest account, so nothing goes unnoticed or unapproved by you.
Fees & Charges
How much do you charge?
SaveVest is completely free: zero SMS fees, and zero account maintenance fees.
Safety & Security
How secure is my information?
SaveVest was built with the security of your payment data in mind. Critical customer data is encrypted and securely stored. We do not store your card information as we work with a PC-IDSS-compliant payment processor to handle all our customers’ card details. The PCI-DSS is a standard guide, globally, that all reputable payment processors must adhere to.
How safe is my money?
In addition to investing your money in risk-free instruments, invested assets are held and managed by professionals with years of experience in investment banking. These assets are marked to market periodically to ensure customers are not exposed.
Withdrawals
When can I withdraw my money?
You can only withdraw all your savings at the set maturity date.
However, you can choose to withdraw 25% of your savings on any of our free withdrawal days. You can decide to roll over the plan for another period or withdraw part or whole.
Rolling over matured plans for another period makes it possible to enjoy compound returns.
How do I withdraw my money?
Withdrawing your money is quite simple and withdrawals are settled almost instantly.
To initiate a withdrawal, do follow these steps:
- Log in to your SaveVest account.
- Select your matured plan
- Tap “withdraw”.
- Enter the amount you want to withdraw
- Select the withdrawal destination. You can withdraw into your bank or Wallet.
- Set a new maturity date.
- Make your withdrawal.
*Please note that any funds left will be kept in the plan till the new 5 maturity date you set.
If you have not added your bank details, tap “Banks & Cards”. Under “Banks” provide details of the preferred bank account to be credited and saved. If a withdrawal is not settled after 24 hours, do send us a message on any of our channels: Twitter, Instagram, Email, or Live Chat.