How to make money on Cowrywise legitimately đ¤Š
At first, I hesitated writing on âhow to make money on Cowrywiseâ but since this is something people search for, I thought, âwhy not?â Letâs tell the truth, amidst all the noise.
At this time, there are three ways to make money on Cowrywise and I say âmake moneyâ with caution because this term has been abused by the many fraudulent schemes that abound. Cowrywise is NOT one of them. Cowrywise does not double money, neither does it promise unrealistic returns. However, you truly can grow your wealth by using Cowrywise and this article is full of gems on how to do just that. So, keep on reading to the end and gain a full grasp of how to make money on Cowrywise, the real way.
The three ways you can earn on Cowrywise right now đđ˝
- Interests on your savings plans
- Returns on your investments (mutual funds plans)
- Referral program (fee waivers on investment transactions)
Is Cowrywise for you? đ¤
Cowrywise has a mission to improve access to wealth management services and drive financial education and sustainability. Naturally, Cowrywise wants as many Africans as possible to achieve these goals and have unfettered access to the tools they need.
Cowrywise is perfect for you if:
- You are looking for genuine ways to grow your wealth in the long term
- You’re open to learning and seek to understand how money works
- You are honest and have great ethical standards
- You understand that patience and caution are key in growing wealth
However, Cowrywise is not for you if youâre looking for platforms that âdoubleâ money.Â

1. Earning interests on your savings plans đ
When you save on Cowrywise, you earn better interests than your bank.
The image above shows what a customer earned on just their savings plans last year. This is a page from the 2021 Cowrywise roundup, a summary of each userâs money moves on the app.
You earn a percentage of interests depending on how long you save.
Hereâs the interest rate as at the time of publishing this article:
- 3 months – 5.50% p.a
- 6 months – 6.50% p.a
- 9 months – 7.50% p.a
- Above 1 year – 8.50% p.a
These interest rates are based on how the market is performing at any given time. This ensures that on Cowrywise, your interest rates will always be paid. You can never hear stories of failure to receive the interest rates due to you. We never overpromise and your money is safe and secure.
Weâre not even allowed to because weâre regulated by the Securities and Exchange Commission of Nigeria (SEC).
Be wary of platforms not affiliated with the SEC in any way. Chances are, they will over promise and under deliver.
How are we able to pay interests on your savings? đ
Your savings are invested in low-risk instruments like bonds, treasury bills and government papers. Simply put, by investing in these instruments on your behalf, we earn you interests.
Thatâs it for how you can earn on your savings plans.
2. Earning returns on your investments (mutual funds plans) đĽł
Right now, the only investments on Cowrywise are mutual funds.
For a simple guide on what mutual funds are, click here.
On Cowrywise, mutual funds are categorized into conservative, moderate and aggressive funds.
You earn fixed annual returns on conservative funds. While on moderate and aggressive mutual funds, you earn through capital appreciation. For example, if you buy units at N10 but sell at N15, youâve earned an extra N5 in capital gains.
3. Earning through the referral program đđ˝
As stated earlier, you can also earn on Cowrywise through our incentivized referral program. Just that this time, you earn via fee waivers.
When you refer a friend to use Cowrywise and they save or invest up to N5,000, you both get one fee waiver on an investment transaction.
What you save or invest determines your interests or returns đ
We had a customer reach out to us upset because they had invested N3,000 in a mutual fund in November 2021. By December 2021, they had removed the funds because they didnât see a âsignificantâ increase.
But realistically, there can be no significant increase when you invest for just one month. You have to be in this for the long haul and you should invest consistently, not just one-off.
Also, your interests and returns are dependent on how much youâve funded your plans with. You will earn more in interests on your plan with N600,000 than your plan with N6,000.
Sadly, people’s perception of investments have been skewed by ponzi schemes so they often come to Cowrywise expecting their funds to double. However, we donât do that here.
Legitimate investments and wealth building in general takes time, but we make it worth it.
Conclusively đ¤đ˝
At Cowrywise, weâre determined to help millions of Africans save and invest the right way. Thatâs why financial education is so important to us.
Building wealth is a long-term game and understanding that will ensure youâre not burnt by fraudulent people.
So, are you ready to begin saving and investing steadily and securely? Then get started here. Youâll have a great time using the app to reach your financial goals.
Olamide Oluwadamilare for how long it’s takes to earn money,cos I don’t understand Wella.
Please explain the mutual funds well.
If I invest 3,000 for three more what will be my interesting??
If I invest 3,000 for three months, what will be my interest? ?