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Nigerians save. It’s part of who we are, from the ajo and esusu contribution circles in market stalls and church halls to the “salary alert” ritual many workers follow every month. Today, many savers are also paying closer attention to the interest their money can earn before deciding where to keep it.
For many people, putting money aside each month is already a financial win. Whether it’s ₦20,000 from a salary, ₦50,000 from a business or whatever amount is manageable, the goal is usually the same: have something available when it is needed. But while that money is sitting in an account, how much is it actually earning?
The answer depends on where the money is kept, the interest rate attached to it and how long the saver is prepared to leave it there. As more Nigerians become intentional about where and how they save, digital financial platforms are giving them more options. Digitvant Pay, for instance, allows users to choose between saving towards a specific goal or building their savings more flexibly, depending on their needs.
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For someone saving towards rent, school fees, a car, a wedding or another defined goal, Colo-Get offers 25% per annum. Users can set a target amount, choose a start date and maturity date, and continue building towards their goal. The savings period can range from one week to four years, with a minimum starting amount of ₦2,000.
For savers who prefer a more flexible approach, Colo-Flex offers 18% per annum, giving users another way to grow their savings while working towards their financial goals.
The savings experience is also part of what Digitvant Pay 2.0 is designed to improve. The upgraded app gives users an easier way to set up and manage their savings, including automated contributions, while providing greater visibility into their savings progress and accrued interest. Users can start saving from as little as ₦2,000 and choose a savings period that works for their goals.
With the new app, Digitvant is bringing savings and everyday financial services together in one improved digital experience, making it easier for Nigerians to manage their money and stay intentional about their financial goals.
For Nigerians who are already making the effort to save, the question is no longer just how much they can put away, but also what that money can earn while they wait to use it.
Your money could be doing more. The question is whether it’s earning enough.
