Is cowrywise legit; Cowrywise is another digital banking platform in Nigeria which was founded in 2017 by Razaq Ahmed and Edward Popoola.
The digital banking platform is aimed at making savings and investment easy and enjoyable for everyone with a high rate of profit.
The digital banking platform is a property of Cowrywise Financial Technology Limited with the RC number 1419869.
They, Cowrywise provide financial services fully under the Co-operative License with a registration number of 15845.
The most interesting part of this digital banking is that both the digital banking platform and Cowrywise Financial Technology Limited are legal entities in Nigeria as a whole.
Let’s go deep into what this digital banking is all about together with many other features of digital banking both their investment plan, how to save, reasons why people save on digital banking, interest rate, contact number, and Email address, among many others.
What is Cowrywise? (is cowrywise legit)
Cowrywise is a digital banking platform in Nigeria which has been helping individuals save and invest with ease and less stress. The digital banking platform is aimed at taking away the most stressful part of saving and investing in Nigeria.
Reasons why you should save on Cowrywise
Whys should I save on Cowrywise?
Yes, there are different reasons why different people make their different choices but here we will be talking about the reason why people choose to save on this particular digital banking platform instead of others.
The reasons are listed below;
- Firstly, we believe you don’t wanna miss out on the golden saving and investment opportunity.
- You would love to save and invest even when you are at sleep.
- Wants to secure your future.
- You would love to secure a bright future for your children.
How much can I save on Cowrywise?
You can start your saving journey on the digital banking platform with just N100 which is One hundred naira, the most interesting part of the whole story is that they do not have any maximum limit, you start your savings with even a billion naira.
Cowrywise interest rate
What is the Cowrywise interest rate?
They offer a 10% minimum interest rate per annum and the most interesting part of this interest rate s that it returns accrues to you strictly on a daily basis.
Note that you can earn as high as 15% interest rate per annum no longer duration and this, in particular, compares to the 4.2% that your normal bank gives you on your normal savings account which you can only claim once you don’t withdraw more than 4 times in a month.
Note that your investment and savings can grow daily and you can also monitor the amount your fund has earned or lost only if your investment is the one in stock.
How long can I keep my savings and investment on Cowrywise?
We believe that you may be confused about how long you can keep your investment or savings on Cowrywise, don’t worry we will explain it bit by bit and we promise you that at the end of this post you will learn everything single thing you need to know about the digital banking.
The minimum duration you can keep your savings on this digital banking is 90 days which is 3 months and there is no maximum number of days.
This simply means that you can keep your savings as long as you want and note that the longer you keep your savings and investment on the platform, the higher interest return you get on a monthly or yearly basis.
How do my earnings accumulate/grow on Cowrywise?
For every plan created on the platform, there is a maturity period assigned to it. For each maturity period range, there is an interest rate that is also attached to it. This interest rate can get as high as 15% per year.
Note that Cowrywise makes every day count, this is done by making your savings earn returns on a daily basis 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.
When can I withdraw my money from Cowrywise?
Withdrawing your fund from Cowrywise is very easy, note that you can only withdraw your money at the set maturity date, is either you withdraw some of the money or withdraw all your savings together with your interest rate.
The most interesting part of this withdrawal is that you can choose to roll over the plan for another withdrawal period and the rolling over matured plans for another period helps in increasing the compound returns
How do I withdraw my money from Cowrywise?
Issuing a withdrawal on Cowrywise is pretty simple and easy and the most interesting part is that all withdrawals are settled at once.
For a successful withdrawal, follow the simple steps below;
- First, log in to your Cowrywise account.
- Secondly, select your matured plan
- Then tap “withdraw”.
- Enter the amount you want to withdraw
- Select the withdrawal destination. You can withdraw into your bank or stash.
- Set a new maturity date.
- Finally, Make your withdrawal. Viola!
Note that any funds left will be kept in the plan till the new 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 six hours, try to contact the Cowrywise customer care representative on any of their social media channels on Twitter, Instagram, Email, or Live Chat.
Is Cowrywise legit?
Yes we can boldly say that Cowrywise is 100% legit and safe to invest in and save by looking at the top companies they work with, top companies like;
- Afrinvest.
- United Capital.
- Meristem.
- Lotus Capital.
Cowrywise App
You can download the Cowrywise mobile App on the Google play store, all you need to do is to visit your Google Play Store, search Cowrywise app, download and install then finally fill in the required fields.
For Android users click HERE to download
And for the iOS users (iPhone) click HERE
Cowrywise email address
If by any chance you encounter any problem when starting up your investment or savings journey, you should feel free to reach out to Cowrywise through email at [email protected].
Cowrywise contact number (Is cowrywise legit)
Just as we said earlier, if you encounter any problem or need any assistance when starting your saving or investment journey, you can contact the Cowrywise customer care representative at +234 903 0000 857, +234 802 2212 229 they are 24 hours ready to attend to your questions.