Investment has always been a long-standing way to create wealth, as it serves as a passive stream of income compared to other best ways to make money online in Nigeria. As such, investment borders on your money working for you to bring in returns instead of working for your money. The increasing interest in investment has resulted in the emergence of firms offering opportunities in that regard. So, let’s dive deep into the best investment apps in Nigeria.
1. PiggyVest App
PiggyVest has grown to become a popular savings and investment app in Nigeria, owing to its high interest rates that have attracted over 4 million customers. The PiggyVest investment plan (Investify) enables users to invest in various assets, such as fixed income, transportation, and agriculture, starting from N5,000, and you can earn up to about 25%.
You can also invest in a savings account and earn between 5% and 15% on your savings annually. There is a 5% fee for withdrawals outside fixed withdrawal days. It gives four free withdrawal days annually.
The PiggyVest app is available on the Google Play Store and Apple Store for Android and iOS users, respectively.
2. Carbon App
Formerly known as Paylater, Carbon provides smart investment options. This is in addition to how Carbon operates as a digital bank that enables you to make payments, access instant online loans, and pay bills.
The Carbon app works to help people unlock the potential of wealth through investments that offer a good return. It should be noted that Carbon provides three (3) investment plans and these are:
- Cash Vault: This is a fixed deposit account on which you can lock away your funds for a given period and earn 11% on any investment at a threshold of N50,000.
- FlexSave: This is a one-time investment plan that can earn you up to 9% on your investments, and you have the latitude to add more funds to your account.
- Goals Plan: You can set daily, weekly, or monthly investment targets for as low as N100 while you earn as much as 9.5% upon the completion of the goal.
You can download the Carbon app on the Google Play Store or Apple Store.
3. Cowrywise App
Cowrywise is another one of the best investment apps in Nigeria that is notable for enabling its users to invest in top mutual funds in the country. So Cowrywise allows you access to Naira and Dollar mutual funds. This also includes savings offerings like Regular savings, Halal savings, Emergency savings, Savings circles and Money Duo.
There are no minimum withdrawal and withdrawal charges as the Cowrywise app is available for Android and iOS users.
4. Trove App
Trove is a digital stock investment app that enables you to invest in Nigerian, American, and Chinese stocks. As such, this is one of the top investment apps in Nigeria to invest in local and foreign stocks or shares. You can also invest in bonds, exchange-traded funds (ETFs) and real estate investment trusts (REITs).
The minimum investment amount on the Trove app is N1,000, and you can track your returns on investment (ROI) on the platform. The Trove app is available for download on the Google Play Store and Apple Store.
5. Bamboo App
Bamboo is another investment app that facilitates investment in Nigerian and foreign stocks. Therefore, you can use the Bamboo app to invest in over 3,500 stocks on the Nigerian Stock Exchange and stock exchanges in the United States.
You can buy, hold, or sell local and foreign stocks on your Bamboo app, which is available for Android and iOS users. The minimum investment amount is $20, and the platform employs advanced security features to ensure safety for its users.
6. Risevest App
Risevest enables you to make dollar-denominated investments. This means that Nigerians can make dollar investments in US stocks, real estate, and Eurobonds for as low as $10.
Notably, Risevest’s annual returns on the US stocks are about 14%, positioning it as one of the ways to invest in foreign stocks from Nigeria. But, it is important to note that actual returns depend on the market performance. You can download the Risevest app on the Google Play Store or Apple Store.
7. Chaka App
Chaka allows investment in local and foreign stocks, which starts for as low as N1,000 or $10. It is fully accessible to individual and business entities seeking investment opportunities and wealth management. This app is available for download on the Google Play Store and Apple Store, and you can easily track your returns on investments (ROI) on the platform.
8. I-invest App
I-invest offers something different from other investment apps. The platform enables you to securely purchase and manage Treasury bills, shares on the Nigerian Stock Exchange, Eurobonds, fixed deposits and commercial papers.
You can also purchase Treasury bills on the I-invest app, which is considered one of the few risk-free investment options. The app is available for download on the Google Play Store and Apple Store, and you can easily track your investment portfolio on the platform.
9. GetEquity App
GetEquity facilitates your access to start-up financing and venture capital without hassle. It means you can use the app to invest in the top local startups in Africa from the seed phase to the initial public offering (IPO).
You can download the GetEquity app on the Google Play Store and Apple Store, as the platform has democratized startup investing for Nigerians and, by extension, Africans.
10. Crowdyvest App
Crowdyvest provides flexible investment opportunities for Nigerians seeking good returns on investment (ROI). The minimum amount of investment on this platform is N20,000.
There are two (2) investment plans available on the Crowdyvest app – Hyperplan and Projects. The Hyperplan allows you to earn returns on low-medium risk opportunities spread across multiple asset classes in a single plan. The Projects plan enables you to earn on project-specific offerings in real sectors.
Frequently Asked Questions (FAQs) About Best Investment Apps In Nigeria
What Is The Best Investment App In Nigeria?
The best investment app for you depends on the asset class that you want to invest in. These could be bonds, stocks, commodities, or even cryptocurrency. This will inform your decision on the best investment plan for you.
Is It Safe To Use Investment Apps In Nigeria?
It is considerably safe to use investment apps in Nigeria. But it is good to do your due diligence to research more about the credibility of the platform you want to use to prevent possible scams.
How Much Can I Invest In Investment Apps?
The minimum investment amount varies across investment apps in Nigeria. So, while you can start your investment journey with as low as N1,000 on Trove and Chaka, the minimum amount on PiggyVest is N5,000.
Conclusion
Investment is always a good idea to make money when you put certain factors, such as platforms, to facilitate your investments and investment amount. These are the many features we have highlighted on some of the best investment apps in Nigeria. You can choose your preferred platform to start building wealth.
