Join The #2nd_PiggyChallenge2018 - How Are You Starting Your 2018 Financially?

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  • What is

  • What is is an online savings platform that helps you put away funds you don't want to touch easily. You can choose to save little amounts of money periodically (Daily, Weekly or Monthly) without really thinking about it and restrict withdrawals until a convenient date you set or you can use piggybank's quarterly withdrawal dates. securely makes saving possible by combining simplicity, discipline, convenience and flexibility to make you grow your savings, manage your finances better and achieve financial freedom.

  • How do I start saving on

    To start saving on 

    • Create a free account with your name, email address and phone number
    • Your secure password is automatically sent to your email
    • Save your first N100. (Use a MasterCard or Visa from any bank in Nigeria). 
    • Set your withdrawal account.
    • Then set a convenient savings plan (AutoSave) will automatically use your debit card to transfer the money you set to your Piggybank account safely based on your specific AutoSave instruction.

  • Are there Bank Charges when you deduct from my account?

    No! it's completely FREE. There are no bank charges for transferring money to your Piggybank account.

  • How much can I Start with?

    You can ONLY save between:
    N50 - N25,000 daily,
    N1000 - N100,000 weekly, 
    or N3,000 - N500,000 monthly on

    When using the Quicksave option which allows you add more funds to your savings at anytime, you can add up to N500,000 per time.

  • Do I need a UBA account to get started?

    No, you don't need to have an account with UBA to get started.

    Regardless of your bank, all you need is a debit card (preferably a MasterCard or Visa) from any bank in Nigeria.

  • Safety & Security

  • How safe is

    All financial information is encrypted and stored to PCI DSS Level 1 compliant standards. PCI DSS Level 1 compliance is a set of rules stated by credit card companies and audited by an independent third party.

    It is the highest possible rating one can get in the electronic payment processing industry. Additionally, all transmission to our banking partner and on our site is via an encrypted 256-bit HTTPS SSL connection.

  • Does have an Office?

    Yes! We are located at No 16 Boyle Street, Onikan, Lagos Island, Lagos, Nigeria.
    Contact Number: 08093719000

  • Are my Card details Safe?

    Your security is our only priority. Your card details are extremely safe as they are never stored on We work with a PCIDSS-compliant payment processor, Paystack to handle your card details.

  • Are Deposits Insured? operates under the MFB license of VFD Microfinance Bank, regulated by the Central Bank of Nigeria and insured by the NDIC (Nigeria Deposit Insurance Corporation), an independent agency of the Federal Government of Nigeria.

  • My Savings

  • Do I have to login every time I want to save?

    No, everything is done automatically except you want to use the QuickSave option. All transactions on your debit card will be visible in your dashboard. We will also send an email receipt to you every single time we save with your debit card and your bank will also send you an alert. It's 100% secure.

  • What happens when I finally have money and I missed some days, weeks or months?

    We WON'T automatically debit your account if you missed any day, week or month and we WON'T charge you either. The QuickSave option is always available for you to manually make up for any lost day, week or month.

  • Can I pause and continue saving anytime?

    Yes, you can, it is up to you to pause or continue the automatic saving any time for free. Just log in and click on "pause", that's it.

  • Can I increase my savings at anytime?

    Yes, you can increase the amount you're saving at anytime. Simply login and click 'modify AutoSave instruction', then edit the amount. You can also edit your frequency to either daily, weekly or monthly.

  • What if I don't have funds in my account or debit card?

    Simple, we will not be able to debit you for that day, week or month. We will only be able to save for you when you have funds in your debit card. However, you have the option to use the "Quick save" option once you have loaded your account.

  • What is Quick save and how does it work?

    This option basically enables you to add more funds to your savings. For example, if you set N1,000 daily and you miss a day or two, you can use the quick save option to deposit N2,000 or N3,000 at once. This is to ensure you meet up with your savings target.

    You can add up to N200,000 at once with this option. However, you can add this multiple times in a single day.

  • What should I do with my savings?

    A lot of our users are saving for emergencies, to plan a trip in a couple of months, or pay down debt. You can also move your savings to other and any bank accounts (for investments or retirement) as often as you wish.

  • Withdrawals

  • When do I withdraw my Savings?

    You can withdraw for FREE only on set Withdrawal dates. You can set your own FREE withdrawal day OR you can use Piggybank's 4 fixed FREE withdrawal dates every year.

    Funds will be sent back to the bank account you have already preset for withdrawals within the stipulated time (not more than 3 working hours).

    PS: If you decide to set your own convenient FREE withdrawal date, the next available FREE date will be exactly 3 months from the last time you withdrew.

  • What are Piggybank's free withdrawal dates?

    You can choose your own FREE withdrawal dates on your dashboard.

    OR You can use Piggybank's FREE withdrawal days which are:

    Free Withdrawal DaysFree Dates
    1st Free Withdrawal Day31/03/2017
    2nd Free Withdrawal Day30/06/2017
    3rd Free Withdrawal Day30/09/2017
    4th Free Withdrawal Day31/12/2017

  • What if I withdraw outside the free withdrawal dates?

    Any day outside the Withdrawal days will attract a 5% penalty fee.

  • How do I withdraw my savings?

    You need to have filled your bank details in your withdrawal settings then, click on the "withdraw" option on your dashboard, enter the amount you want to withdraw and your funds will be transferred to your set bank account within the stipulated time (not more than 3 working hours)

  • What is the Minimum/Maximum amount I can withdraw?

    The minimum amount you can withdraw from your Piggybank account is N3000 and there is NO maximum. You can withdraw all of your funds whenever. However, fixed free withdrawal dates still apply.

  • What if I have achieved my target before my FREE withdrawal date OR Piggybank's FREE withdrawal date

    Yes! you will still be charged. The whole idea of is to enable you genuinely save and Piggybank's 4 fixed FREE withdrawal days has helped us set a standard towards building a proper savings culture.

    Alternatively, at your own convenience, depending on what you're saving for, you can now set your own FREE withdrawal day(s).

    PS: If you decide to set your own convenient FREE withdrawal date, the next available FREE date will be exactly 3 months from the last time you withdrew.

  • Interests

  • Do I get Interests on my regular Savings apart from SafeLock?

    Yes, pays you up to 1.5% interest 4 times in a year (that is up to 6% interest annually).

    We simply check your account on the dates below and add an interest to your total savings. It's a way of encouraging you to keep saving. PLEASE NOTE THAT YOUR AUTOSAVE MUST BE ACTIVE TO RECEIVE INTERESTS.

    Quarterly InterestDates
    1st Interest Date01/04/2017
    2nd Interest Date01/07/2017
    3rd Interest Date01/10/2017
    4th Interest Date01/01/2018

  • What If I don't want Interest?

    Valid. Simply visit 'account settings', scroll down and check the box that says 'Disable Interest...'

  • SafeLock

  • What is SafeLock?

    This acts as your sub account which allows you transfer funds from your main Piggybank balance for a fixed period of time (you can choose between 10 and 1000 days) without having any access and then the funds are sent back to your main balance once it has reached the date you set for it to return.

    Think of it like your own customized fixed deposit account. The SafeLock feature is one step further in curbing the temptation to touch money that you have put aside as your savings.

  • How much interest do I get on my SafeLock savings?

    The interest you get on your SafeLock depends on the duration of SafeLock. 

    [10 days, 0.3% - 1000 days, 30%].

    For ten days, any amount you SafeLock attracts an interest of 0.3% and for 1000 days, you get 30% interest. Annually, you get 10.95%.

    PS: the minimum amount you can SafeLock is N1000. 

  • When do I get my SafeLock Savings interest?

    You get your SafeLock interest immediately you initiate a SafeLock plan. The interest on your SafeLock is immediately added to your Piggybank savings wallet. 

  • Can I have more than one SafeLock?

    Yes, you can have more than one SafeLock; and you can give them different names (purposes) too.

    E.g. You can have a SafeLock for your Fees, Wedding; Birthday; Vacation etc.

  • Is the SafeLock different from the normal savings plan?

    Yes, your SafeLock is different from your normal savings plan. After initiating a SafeLock for a particular amount of money, your savings plan continues as normal.

    It is completely under your control. You set the pace, duration and everything else concerning your SafeLock.

  • Can I add more funds to my SafeLock?

    Yes, you can. Simply select the particular SafeLock you want to add, enter the amount you want to add and then click 'add funds'.

  • How do I get my SafeLock paid back when time is up?

    The money you SafeLocked is automatically paid back into your Piggybank account on the exact date and time you set as pay back.

  • Referral Program (Stories)

  • Do you have a Referral Program?

    Yes! it's called Piggybank Stories. Once you login to your dashboard and you have at least N3,000 in your Piggybank main balance, you can add your own story of how Piggybank has/is helping you save. 

    Once your story is approved, you will receive your own unique link that you can share to your friends, family, colleagues or on social media. 

    How you earn 3 times per user:
    • First N20: Anytime someone creates a account with your link, you earn N20.
    • Secondly N130: You automatically earn N130 once they save their first N100 Naira.
    • Lastly N350: You earn N350 anytime they "quicksave" a minimum of N2,000 the first time.
    To see other stories, kindly visit 

  • Who is an active User?

    An active user is one who has successfully added their debit card details and has saved something in at least 30 days. For more transparency, on your stories dashboard, you can also see a list of persons that have signed up using your link and their statuses (Active or not).

    In simple terms, for example, if you bring in 5 people and all are active, you get paid N2500. However, if 2/5 become inactive and you bring in one new active person (making it 6 people but now with 4 active), you won't get paid for that new person until it evens out. If you eventually bring in 2 more active people, then you get paid N500 only because you now have a total of 8 people with 6 active which equals N3000

    After we have paid, anything could happen and some persons could switch off their AutoSave. This affects your next active recruit. The system is structured this way is to discourage cheating. Hence, our advice - ensure you're bringing persons who really want to save.

  • What If I don't have funds in my main balance but in my SafeLock, will my link still work?

    No! it won't. You need to add at least N3000 to your main balance using the quicksave option for your referral link to work.

  • More Questions?

  • More Questions?

    You can reach out to us via our or call 08093719000 (Mon-Fri from 9am-5pm), we’ll be glad to hear from you.

    You can choose to only save between;
    ₦50 - ₦25,000 daily,
    ₦1,000 - ₦100,000 weekly,
    or ₦3,000 - ₦500,000 monthly
    Start Saving Today