Piggybank is a generic English term used to denote the earliest means of storage of money, using a hollow ceramic statue of a pig.
It’s probably time to stop being archaic and get digital because, there’s a Piggybank in town who’s gone so digital.
In a brief note, Piggybank.ng is a Nigerian Financial Technology (Fintech) startup which run a hassle free online savings scheme.
Piggybank, if granted access to a user’s bank account will make periodic deductions for the purpose of saving towards a target. This innovative savings scheme is similar to Wema Bank’s Alat.ng
Can Piggybank.ng Be Trusted?
What’s Special About piggybank.ng
Features of Piggybank.ng
Autosave unlike QuickSave helps you schedule savings from your bank account to your piggybank account with your approval. Thus, apart from your ability to directly and quickly send funds to your Piggybank.ng account, you have access to setting up a savings goal and preferred savings frequency which you can schedule to run on daily, weekly or monthly basis, depending on what frequency you’d love your saving schedule to operate on.
Scheduling savings to your profile grants piggybank access to automatically debit your bank account and credit your account gradually until you reach your savings goal.
With Autosave, you set a goal to reach a stipulated amount then watch as your account grow drastically. You need to have funds in your bank account for this feature to function properly.
SafeLock is probably the best feature in piggybank. This feature caught my attention at first sight.
SafeLock as you would suspect, locks part of or all the savings in your Piggybank.ng account for a selected period. When your funds is safelocked, you’ll be unable to withdraw them until the return time frame elapses. To encourage users to SafeLock their funds, piggybank offers instant upfront interest of up to 25%. This feature is simple, 100% safe and highly recommended to people who want to store up funds for a particular period (between 10 – 1000 days) without being tempted to touch them.
Safelock is very strict and before you jump in to begin using this feature, you need to understand its terms and conditions.
Once your fund is locked, you can’t reverse nor unlock it until the selected date for its pay back is due. ie, if you decide to lock your funds until 4/7/2019, you won’t be able to withdraw it until 4/7/2019! So while you lock your funds, do so with precautions.
Piggybank is meant to save for you which is why its withdrawal process comes with conditions. Piggybank offers free quarterly withdrawal and withdrawing outside the free withdrawal days attracts a 5% penalty fee.
You can withdraw your money once it’s up to N2000 excluding the 5% fee if you are to withdraw outside the 4 free withdrawal days.
So, If you are ready to Manage your spending habits, you can simply visit piggybank.ng