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How to Make Money on Cowrywise

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How to make money on Cowrywise legitimately 🤩

At first, I hesitated writing about “how to make money on Cowrywise” but since this is something people search for, I thought, “why not?” Let’s tell the truth, amidst all the noise.

At this time, there are three ways to make money on Cowrywise and I say “make money” with caution because this term has been abused by many fraudulent schemes. Cowrywise is NOT one of them. Cowrywise does not double money, nor do we 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 👌🏽

  1. Interests on your savings plans
  2. Returns on your investments (mutual funds plans)
  3. Referral program (fee waivers on investment transactions)

Is Cowrywise for you? 🤔

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 to growing wealth

❌ Cowrywise is not for you if you’re looking for platforms that “double” money. 

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1. Earning interest on your savings plans 🚀

When you save on Cowrywise, you earn better interest than your bank. 

customer earnings 2022 roundup

The image above shows what a customer earned on just their savings plans last year. This is a page from the 2022 Cowrywise roundup, a summary of each user’s money moves on the app. 

You earn a percentage of interest depending on how long you save.

Here’s the interest rate as of 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. 

We’re not even allowed to because we’re 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 interest on your savings? 😎

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.

That’s it for how you can earn on your savings plans.

2. Earning returns on your investments (mutual funds plans) 🥳

Right now, the only investments on Cowrywise are mutual funds and they 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, you’ve earned an extra N5 in capital gains.

3. Earning through the referral program 👊🏽

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.

Remember – what you save or invest determines your interests or returns 😏

total saved and invested by a customer from 2022 roundup

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 didn’t see a “significant” 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 you’ve funded your plans. You will earn more in interest on your plan with N600,000 than with N6,000.

Sadly, people’s perception of investments has been skewed by Ponzi schemes so they often come to Cowrywise expecting their funds to double. However, we don’t do that here. 

Legitimate investments and wealth building in general take time, but we make it worth it. 

Conclusively 🤞🏽

At Cowrywise, we’re determined to help millions of Africans save and invest the right way. That’s why financial education is so important to us. 

Building wealth is a long-term game and understanding that will ensure you’re not burnt by fraudulent people.

So, are you ready to begin saving and investing steadily and securely? Then get started here. You’ll have a great time using the app to reach your financial goals.


Why We Stopped Giving Money as Referral Bonus on Cowrywise

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