About Cowrywise, How to Join And Register Cowrywise To Start Saving
Cowrywise is a savings and investment platform in which you can start your savings journey with as low as one hundred (100) Naira and as high as any amount to earn a certain amount of interest (based on the chosen savings plan) within a minimum period of 90 days or as long as you wish to save while your interests grow more and more.
With Cowrywise you can create a savings plan or goal such as savings for housing, car, wedding, education, vacation or any other project you wish to achieve in a lifetime and the good part of it is that you earn interest return while saving for that your desired project.
There are 3 types of savings and investment plans to choose from on Cowrywise and they are listed and explained below.
Types Of Cowrywise Savings And Investment Plans
In this type, you can save as low as 100 Naira and as high as can afford on a daily, weekly, or monthly basis with interest return after at least 90 days (3 months), Savings can be extended for a long period of time as wished while the savings amount is flexible.
With this plan, a periodic savings goal can be created to meet up with that your dream wedding, car, house, vacation, or any desired project, the maturity period of this type of savings is a minimum of 1 year but it can be extended as long as wished.
This is a type of savings for Muslims who wish to save without earning interest, Savings can be set as periodic plans, life goals, save as you earn plans or fixed plan with no interest return.
NOTE: The interest rate is stated in each plan in the dashboard before choosing.
In Cowrywise an individual can create as many savings plans as wished and can be paused or start at any point in time, funding can be automated or done manually.
A mutual fund is a platform in which investors fund are invested collectively in a business to yield a return of investment (ROI)/Interest to the investors on a specific period interval.
The mutual fund investment is managed by a Fund Manager who ensures the investors earn more after which a management fee is deducted from the interest return to compensate the manager.
In Mutual Fund an investor can earn a huge or low return of investment depending on the market fare, however, sometimes funds are lost, unlike Cowrywise Savings where interest return is fixed.
Mutual Fund can be as follows:
Your fund will be invested in shares of carefully selected high-flying companies.
In this type, your fund will be invested in promise-government debt backed investments which are usually low risk.
This is the combination of equity funds type and fixed-income funds type.
To invest in Mutual Fund you can click on the ‘Mutual Fund’ link in your dashboard and answer few income and spending questions to determine which type is suitable for you.
Note: A processing fee usually 100 Naira or 52.5 Naira for transfers is usually charged when purchasing a mutual fund.
How To Register Cowrywise
- Click here to register and earn free 250.00 Naira to start your savings and investments.
- Fill the online registration form with your correct and active details.
- Verify your account through your email.
- Login and provide the additional requested details.
- Choose your desired savings or investment plan(s).
- Submit your banking details for funding and receiving your payment,
- Start saving and investing.