PiggyVest Interest Rate Calculator: How to use the PiggyVest Interest Rate Calculator

Looking for a way to maximize your savings and earn more interest on your money? PiggyVest, the leading online savings and investment platform in Nigeria, has got you covered with their Interest Rate Calculator.

With this powerful tool, you can easily calculate how much interest you can earn on your savings over time, helping you make informed decisions about your financial future.

Whether you're saving for a rainy day, a big purchase, or your long-term goals, PiggyVest's Interest Rate Calculator can help you stay on track and achieve your objectives faster. In this blog post, we'll take a closer look at how the PiggyVest Interest Rate Calculator works, its benefits, and how you can start using it today.

What is PiggyVest?

PiggyVest is a popular online savings and investing platform founded in Nigeria that allows people to effortlessly and securely save and invest money.

The platform provides its members with a number of savings and investment choices, such as fixed deposits, mutual funds, and investments in agriculture, real estate, and transportation. Users can build various savings programs, set savings targets, and measure their progress toward financial goals.

PiggyVest also has a unique feature called "SafeLock," which allows customers to lock up their savings for a set amount of time, preventing them from taking the money before the time limit. This enables users to develop financial discipline and avoid depleting their money before reaching their goals.

What is Piggyvest interest rate calculator?

PiggyVest Interest Rate Calculator is a powerful tool that allows users to estimate the interest they can earn on their savings over a specified period of time. It is an online tool that helps individuals calculate how much they can earn on their savings, taking into account the interest rates offered by PiggyVest.

With the PiggyVest Interest Rate Calculator, users can input their savings amount, desired savings period, and the type of savings plan they are interested in. The calculator will then generate an estimate of the interest they can earn on their savings based on the current interest rates offered by PiggyVest.

This tool is particularly helpful for individuals who want to plan their savings and set achievable goals. It provides users with a clear idea of how much they can expect to earn on their savings, which can help them determine the right savings plan to choose and the amount they need to save to reach their goals.

How does the PiggyVest interest rate calculator work?

The PiggyVest interest rate calculator works by calculating the projected returns on savings or investments using a simple formula.

The formula takes three important factors into account: the principal amount, the interest rate, and the duration of the investment.

Benefits of the Piggyvest Interest Rate Calculator

The PiggyVest Interest Rate Calculator offers several benefits to users who want to maximize their savings and earn more interest on their money. Here are some of the key benefits of using the PiggyVest Interest Rate Calculator:

Helps set realistic savings goals: The calculator provides users with a clear idea of how much they can expect to earn on their savings, helping them set realistic savings goals that are achievable.

Helps in Planning: The calculator helps users to plan their savings better by giving them a clear idea of how much they need to save each month to achieve their goals.

It saves time: The PiggyVest interest rate calculator saves you time by giving you with immediate estimations of the returns you can earn on your savings or investments.

You don't have to spend hours studying and calculating the returns on various savings and investing options.

Helps in Choosing a Savings Plan: The calculator enables users to compare different savings plans and choose the one that best suits their needs and goals.

Ease of Use: The PiggyVest Interest Rate Calculator is user-friendly and easy to use, making it accessible to everyone, regardless of their financial literacy.

Encourages savings discipline: The calculator encourages savings discipline by providing users with a clear idea of the monthly savings required to achieve their goals.

Provides motivation: Seeing the estimated interest earned and total savings amount can motivate users to save more and achieve their financial goals faster.

How to use the PiggyVest Interest Rate Calculator

Using the PiggyVest Interest Rate Calculator can help you plan your savings better and choose the right savings plan to achieve your financial goals. By using this tool, you can stay motivated and track your progress towards reaching your financial objectives.

Using the PiggyVest Interest Rate Calculator is easy and straightforward. Here's a step-by-step guide on how to use the calculator:

Go to the PiggyVest website: Open your web browser and navigate to the PiggyVest website.

Access the Interest Rate Calculator: Once you're on the PiggyVest website, click on the "Tools" tab in the navigation menu and select "Interest Rate Calculator" from the drop-down list.

Input savings amount: On the Interest Rate Calculator page, input the amount you want to save in the "Savings Amount" field.

Choose a savings plan: Select the savings plan you are interested in from the drop-down list. PiggyVest offers various savings plans, including Flex Savings, SafeLock, Target Savings, and Investify.

Input savings period: Enter the period you plan to save your money, such as six months, one year, or two years, in the "Savings Period" field.

Calculate interest: Click on the "Calculate Interest" button, and the calculator will display the estimated interest you can earn on your savings based on the current interest rates offered by PiggyVest.

View results: The calculator will display the estimated interest earned, the total amount you can expect to have saved by the end of the savings period, and the monthly savings amount required to achieve your goal.

FAQS

How much interest does PiggyVest give per month?

You receive 8% interest on funds in your flex account, but only if you withdraw at least four times per month. If you withdraw from your Flex account more than four times a month, you forfeit all accrued interest on your Flex savings for that month.

How much is 1 point on PiggyVest?

One PiggyVest point is worth N10. For example, 100 PiggyVest Points equals 1,000 Naira.

You get points as you save, so the more you save, the more points you have. However, you only earn points for Target savings if the duration of the target exceeds 90 days

Does CBN Recognise PiggyVest?

Piggyvest is a microfinance bank registered by the CBN and insured by the Nigeria Deposit Insurance Corporation (NDIC). PiggyVest offers savings and investment tools to its consumers.

Is it safe to keep money in PiggyVest?

A: PiggyVest uses the most stringent Internet security measures. They use  SSL security encryption to ensure that your information is entirely safe from fraud. Furthermore, their payment processors are PCI-DSS compliant, ensuring the security of your information.

Is my money safe in PiggyVest?

Your money and personal information are protected at all times. 

Conclusion

Finally, the PiggyVest Interest Rate Calculator is a useful tool for anyone who wants to maximize their savings and earn more interest on their money.

It is simple to use and saves time.  Individuals can use the calculator to set realistic savings goals, select the best savings plan, and stay motivated to achieve their financial goals.

In addition, the PiggyVest Interest Rate Calculator is just one of many features provided by PiggyVest to assist individuals in achieving financial wellness.