How to Save, Invest and More Using Cowrywise

September 9, 2023

Cowrywise is an investment and savings platform for people to make easy investments. One of the best habits anyone can have is saving money. So, I will be sharing with you How to Save, Invest, and More Using Cowrywise.

How to Save, Invest and More Using Cowrywise

Saving money is one of the most efficient ways to get what you want, whether it’s starting a business, going to college, building a house or fulfilling all your dreams. But it’s hard to save money, and you can get yourself into a trap with so much temptation.

That’s where Cowrywise comes in as it will help you save and pay very high interest rates, up to 15% a year.

How much you’re saving doesn’t have to be limited. You’ve got a chance to begin from N100 and save. You’re free to save even if you have a billion naira.

CowryWise offers more attractive rates compared to the banks. Therefore, in comparison with the regular bank, saving money has more advantages.

How Does Cowrywise Operate?

Anyone who wants to save money for anything is creating a wallet on the platform and starts saving.

You could save for starting a business, paying your school fees, house rent, rainy days or whatever else you want to do. From as low as N100, you can start saving.

The amount of money that you can save is unlimited. Interest rates of up to 15% per annum are payable on savings in the platform, so your interest could be as high as N15,000 if you saved N100,000. That’s well above what a bank will give you for interest. On the platform, you can use tools to plan your savings free of charge.

You can use an open tool that will help you quickly calculate this if you want to find out how much interest you’ll receive when you save some money for a specific time period.

Apart from your savings, you’ll have the choice of investing or multiplying your money. On the platform, there are a lot of investment opportunities. There is professional management of all investments. It’s a good thing if you don’t know where to invest and what to invest in, they will guide you through it. You can configure an automatic investment of a fixed amount of money periodically with their Systematic Investment Plan (SIP).

Also, bear in mind that they’ll give you advice free of charge if you find yourself overwhelmed with investment options!

Can Cowrywise Be Trusted?

The answer to that is yes. CowryWise Financial Technology Ltd is a duly registered company with CAC No: 1419869. The company’s financial operations are governed by a cooperative licence with registration number 15845.

Cowrywise uses a PCIDSS-compliant payment processor to manage card information for all of its customers. For all reputable payment processors, PCIDSS is a global guide that must be followed. That’s to say, your important data are safe and secure. The addition of your card doesn’t have to bother you.

To ensure the security of funds in their servers, assets are been held by Meristem Trustees, a company registered with the Security and Exchange Commission (SEC) on behalf of savers.

In addition to all this, cowrywise has a large customer flow and so far customer reviews on the platform are quite good.

Guide On Saving Money With Cowrywise

If you want to save money on Cowrywise, follow these steps:

Step 1. Create an account:

It is essential to establish an account in order to get started saving money on Cowrywise.com. With no stress, you can create an account very easily, Just visit: https://get.cowrywise.com/r/MfonAHf5 and sign up.

Step 2. Saving plan creation

Creating a savings plan is the next step. You will be given the option of creating a savings plan when you create an account.

You’ve got plenty of choices to choose from as listed below:

Regular Savings

It’s a standard savings account, you save the money whenever you have it. It is possible to save a minimum of 3 months. You’ll get an excellent rate of return on your savings.

Halal Savings

You’re able to make your own savings with this option. You’ll be able to withdraw at any time and do as you please, but there’s no interest in this option.

Life Goals

This is the kind of savings that is going to help attain a longer-term goal. You can pay your house rent or anything that must be saved for at least one year if you’re going to set up a business. This comes with a high-interest rate. A period of no more than one year must be saved.

Savings Target

That’s to save with a friend, family member or lover. You’re free to set your saving goals, and you can save. Interest is being paid on savings.

Step 3. Set up Your Desired Savings Plans

To help you set up your savings plan, you will be asked a lot of questions. You’ll need to provide the name of the plan before you can do this. It’s simple, let’s say that you’re saving up for the rent on your home.

You can name it house rental. I mean, whatever you want to call it, don’t worry. Select whether you’d like the saving to take place automatically or manually.

Automatic means that they’ll deduct money from the bank to save automatically. Manually means that you’ll log in for saving when you want to. Just read the instructions and pick out which options are best suited to you.

Step 4. Select Payment Method

You will be asked to select the payment method when setting up your savings plan. That’s how you’re going to put your money into your savings. There’s a lot of offers to pick from:

Stash: By stash, you can put money into your savings account. The Stash is a pool of money that you’ve made on your investment. This option doesn’t work for you if it’s your first time.
Bank Transfer: Transfer money from a bank can be your choice.
Add Card: You can add your debit card (ATM card) to your account and from it put funds into your savings.

Start Saving

Guide To Investing In Mutual Funds On Cowrywise

Using Cowrywise, follow these steps to invest in mutual funds:

Create or log in to your account

If you don’t have an account, it needs to be created. You just have to log in once you’ve got one. Visit https://get.cowrywise.com/r/MfonAHf5 to create or log in.

Select “invest in mutual funds” option

Once you’re logged on to your account, you will see the option of investing in mutual funds. You can start by clicking on this.

Read carefully and adhere to the instructions that will be displayed on the screen.

Interest Rates On Cowrywise

For short-term savings, the interest rate is about 10 %, but it may be as high as 15 % for longer-term savings. That means you’ll be able to get a better interest rate if you save longer.

You might be thinking “Why is it that they’re able to offer high interest rates compared with the banks” Well, unlike banks, they don’t spend a lot of money.

There’s a lot of money spent on operations by banks: offices, salaries, logistics and many other things. They could use the same money and pay a higher interest rate since they are able to reduce all running costs.

Customer Support On Cowrywise

You can reach out to them via their site. Here is the link:

https://cowrywise.com/blog/cowrywise-customer-care/

Conclusion

Concluding this article, Cowrywise is definitely a platform for you to check out if you have been searching for a way to securely save and invest your money.

In addition, you will also be receiving high returns from saving with Cowrywise thereby making it a worthwhile platform to reckon with.

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