Have you always wondered how to automate investments? We’ve got you covered. In this guide, we explain the following:
1. How to set up an automated investment plan
2. How to edit automated investment plans
How many times have you broken your promise to save or invest money? No worries, it’s a common challenge. I break my promises too. To actually save and invest, you need to go beyond self-will. You need an extra push, not just the fantastic interest rates we offer. Here at Cowrywise, we ensure that your wealth-building journey comes with that extra push.
This is why we have made it possible for you to automate your investments. You set a schedule; ₦4,000 per day for instance. Then, you relax while we take care of all the tricky parts. With automated investments, we’ve created an excellent way for you to invest without you having to do anything at all! Also, these have been tailored to accommodate everyone, regardless of income or faith.
How To Set Up An Automated Investment Plan
1. Download the latest Cowrywise app.
2. Signup and create a free account. You can log in after this.
3. Tap “Invest”, then tap on either the “Naira Mutual Funds” or “USD Mutual Funds” card.
4. Select a Mutual Fund to invest in.
5. Give your investment a cool name and select next.
6. Choose “Yes, enable automation”, and choose how frequently you want to invest.
7. Select an amount you’d like to invest periodically.
8. Choose a day to start investing.
Read more about how mutual funds work.
How To Edit Your Automated Investment Plans
We understand that when you first set up your investment, you may have decided to fund your investment once a month. Now you’re excited about how well it’s going, and you want to change the frequency. You can edit the frequency to weekly or even daily contributions.
To change your automation settings:
1. Log in to the Cowrywise app and tap “Invest”.
2. Click on either the “Naira Mutual Funds” or “USD Mutual Funds” card. Here, you can view all your investments.
3. Tap the investment you wish to edit.
4. Tap “Edit Investment Automation”.
5. Then, you can proceed to adjust how frequently you invest and how much you want to invest.
Can Automated Plans Be Paused?
Automated investments are great, but our aim is to create features that suit your needs. If your investment is currently automated, you can go to the existing investment plan and tap “Edit Investment Automation”.
Proceed by toggling the “active” option and switch it to “paused”. Once you’ve paused it, save the settings, and the automation will stop. Unless you reactivate automated funding for that investment plan, you will have to invest manually.
Still having doubts? We’ve made investing as easy as possible. Select from multiple mutual funds and start investing today.
ALSO READ:
Introducing Auto Reinvest: How To Make Your Investments Work For You
Good evening, can I get an explicit illustration of how much to invest, how much is the interest rate and for how many days or duration to earn such interest.
Thank you in anticipation of your response.
Ibrahim Muhammad T.
Hi Ibrahim,
You can invest any amount.
Mutual Funds work differently depending on the type you invest in, we have them categorized by risk level.
Please find out more here – http://cowrywise.com/mutual-funds
With conservative mutual funds, you earn based on annual interest. While with the other fund categories – moderate and aggressive – you earn based on capital gains.
There are no fixed interest rates as they change daily, depending on the performance of the market.
We advise you to invest for the long-term so that your investments can yield above-average returns over time.
I don’t recommend any one to invest in any mutual funds on Cowrywise because the interest rate is not even up to 1% it is extremely low. I invested 10000 naira and am getting 1naira everyday as ROI, So after 30days my total ROI would 30naira
is still better than keeping your money in the bank or how much do you think bank will give you?, this is not a quick rich scheme.
Hi Wilfred,
Thank you for your comment. However, this is inaccurate information.
Some funds were performing lower than usual due to market performance, however, not all funds were performing at 1%.
Some were much higher and please remember that we always advise thinking in the long-term.
Mutual Funds work differently depending on the type you invest in, we have them categorized by risk level.
If it’s a conservative fund, you earn based on interest. Interest rates for conservative funds are not fixed, it changes daily.
The other fund categories: moderate and aggressive earn based on capital gains which also changes daily.
This means that performance can be low today and high tomorrow.
If you’re investing for the long-term, more often than not, your investments will yield above-average returns despite the highs and lows of the market.
Good evening, please I need details of how I can invest and what is the interest rate. Also the duration of the investment.