Over the years, our objective and sole responsibility as a business has remained unchanged – to democratize access to investment opportunities and to help you build wealth over time – whether by saving or investing. Since then, we have offered you diversification at its peak, safety, and security, attractive returns, superb customer service, a seamless app experience, and much more.
More importantly, we have rolled out a wide range of fantastic investment solutions to help you on your financial journey. We understand that everyone is different, and as they say, “One man’s food, is another man’s poison”. This cultural insight has guided our product strategy, ensuring that we build valuable products that suit your lifestyle. This approach helps us accomplish two major things:
- We built each product with specific nuances related to the product. Take Football Savings Goal for instance (FSG as we call it internally). FSG has the key features required to help football fans stay engaged – a leaderboard, live scores, upcoming match tabs, etc. We have built our products to take out the complexity of conventional financial products. In doing do, we have made the process easy, seamless, and sometimes, even fun.
- Our customers are split for choice, and each product is a sort of ‘personal preference magnet’. With the wide range of products and features, we can cater to a wider audience and customer base. In summary, no matter who you are, your socio-economic class, your location, or your lifestyle preferences, Cowrywise is your best shot at a steady march towards financial freedom.
If you don’t mind a bit of discipline or prefer some flexibility, if you are single or in a relationship, have one child or multiple children, there’s an investment product for you! Whether you love Football or Basketball, root for Messi or Lebron, are a Muslim faithful, own a business, or love to give gifts, there’s an investment product for you!
It doesn’t matter how you want to save or invest, you can do so on…
Here are 10 ways you can build wealth on Cowrywise, depending on your lifestyle choices and preferences – all at attractive rates.
Quick Navigation – find specific products that fit you
- Naira and Dollar Mutual Funds
- Regular Savings Plan
- Emergency Plan
- Money Duo – savings for couples
- Sports Circles – savings for Sports fans
- Triggers
- Nest – Investment Account for kids
- Gifts
- Halal – save and invest the Islamic way
- Sprout – investment for Businesses
Naira and Dollar Mutual Funds
Cowrywise is currently the largest aggregator of mutual funds in Nigeria. What does this mean for you? On one hand, potential investors are spoilt for choice and are exposed to a large cross-section of mutual fund options, ranging from Naira and USD-denominated mutual funds to halal-compliant investment products, all suitable to meet your investment objectives, and sorted according to risk appetite.
Not sure what your risk appetite is? Check our Risk Assessment Calculator.
Our mutual fund’s offerings are categorized into conservative, moderate, and aggressive risk buckets, making it easier for you to start investing. You will find mutual funds from 11 of the biggest fund managers in the country spread across the risk buckets from Stanbic IBTC to United Capital, ARM, Meristem, Lotus Capital, FSDH, Vetiva, Afrinvest, SFS, Marble Capital, Trustbanc, and Cowrywise (we recently rolled out our own Cowrywise Investment Portfolio – check it out on the app).
Asset Allocation
Mutual Funds also known as Collective Investment Scheme (CIS) are financial products where money from different investors are pooled into a specific fund, which contains a mix of various asset classes. These monies are invested collectively in a Mutual Fund, and the returns are redistributed to the investors depending on the number of units purchased. The benefit of the mix of assets is that it spreads your risk exposure across the assets so that if one asset underperforms, the other assets can close that gap, minimizing your losses.
Generally, Mutual Funds (depending on the fund manager) have varying degrees of allocations of assets. One fund might be composed of 80% of Money Market Funds and 20% in Treasury bills. Another might have 30% exposure to Government Bonds, 50% in Money Market Funds, 10% in cash, and 10% in Treasury bills. If you invest say ₦100,000 in a mutual fund, that amount is invested based on the allocation of assets. Do you understand?
Check out key details of each fund on the app; their prospectus, historical (past) performance, asset composition etc. The information should help you make an informed decision.
“14% of respondents don’t invest for fear of losing money.
But, the real loss occurs when you don’t invest at all”
Findings from a 2022 survey on investing habits
Don’t be part of this statistic. Investing is the hallmark of long-term financial freedom. Build your ₦etworth, and take advantage of compounding and capital appreciation.
Start investing in Naira or USD today.
Regular Savings Plan
A Regular Savings Plan is a simple way to save for specific short-term needs – ensuring you do not tamper with or disrupt your long-term investments for short-term needs. Lock your savings down for 3, 6, 9, or 12 months (at different rates, currently between 11% – 14%). This way, you build some financial discipline, and get attractive interest rates while at it.
We recently rolled out a new feature that allows you to save for specific needs. You can now save for a car, your rent, or education in specific buckets. You can also save in a general plan, or create a custom plan for unique needs.
Once you have locked the plan, you will be unable to make a withdrawal until the maturity date you selected.
If you can dream it, you can invest for it.
Emergency Plan
Emergency Plan was built to manage ‘planned’ emergencies. But, emergencies by their nature, are unplanned and unexpected. How does an Emergency Plan help you as an investor in a society where emergencies are around the corner?
An Emergency Plan helps customers find their financial footing in the event of a ‘disruptive emergency’. It could be a medical emergency, job loss, or natural disasters. Consider the Emergency Fund as a backup fund for when other means of funding dries up. For example, if you lose a job, it is advisable you utilize your savings until you can find your footing. Remember, monies in your Emergency Fund are actually investments, and should only be withdrawn as a last resort.
This is an ‘Emergency’ you can plan for.
So, no! Urgent 2k to buy credit is not a disruptive emergency. We wrote extensively about our approach to managing Emergency Funds in a previous article.
Our advice? Split your savings and investments into 4 major buckets:
- Petty cash/everyday spend: should comprise of monies required for everyday spending. Should typically be deposited and your bank for easy access to quick cash when the need arises. This way, you have something to fall back on for urgent needs
- Short-term savings: monies kept aside for recurring, short-term needs – rent, purchase of gadgets and appliances, etc
- Emergencies: a separate fund to cater to emergencies that petty cash can no longer cover
- Long-term Investments: invest with a long-term horizon (10-20 years) to maximize compounding and capital appreciation for financial growth.
You can save in an emergency plan and build your safety net for unexpected, disruptive events. To create an Emergency plan:
- Tap on ‘Save’ on the home screen
- Choose Emergency
- Select a target you want to save for
- Select the frequency, and you are good to go.
Note: You can withdraw from your Emergency plan ANYTIME, although withdrawing is still subject to the 24hr withdrawal period.
Money Duo
Money Duo is a savings feature that helps couples plan and save for big goals and milestones together. It could be for travel, education, preparing for kids, etc., reducing the financial burden on one partner. Each couple enjoys total control over their funds and 100% transparency on the activity of the joint account. Not to worry, one partner cannot run-off with all the funds – you can only withdraw what you contributed.
Are you a couple or in a relationship? Do you believe in ‘my money is our money’? Invest and achieve major milestones together.
Sports Circles
Football Savings Circle is a group savings circle that Football and Basketball fans can safely bet on. It’s a savings circle for you and your fellow fans to save together, challenge one another, and build wealth every season. The next time you scream “Gooaall!” or “It’s a three-pointer”, you’ll be saving at the same time. It’s another way for you to rep your club, and grow your money at the same time. Here’s how it works.
- Join any of the 17 Football Circles or 8 Basketball Circles
- Select how much you want to save per goal/point. For example, you can select ₦2,000 per goal or ₦1,000 per two-pointer
- Add your card/bank details
- Whenever your team scores, we charge your bank account via your Debit card or directly from your bank, and save it on your Sports Circle plan.
- For example, if you joined a Chelsea Football Circle, and Chelsea has scored 100 goals so far, you and other fans in the Circle would have saved a minimum of ₦100,000 each (the minimum amount charged per goal is ₦1,000). This way, you save alongside your team’s victory, and get returns at the same time.
Join a Football or Basketball Circle
Triggers
Triggers is the private version of Sports Circles. As the name suggests, you can set a ‘Trigger’ on your plans, instructing us to charge your bank account and save or invest the amount you selected for you anytime a specific event occurs. For example, when a Football team or player scores, we will take say, ₦2,500 (the amount you selected per goal) and top up the plan the Trigger was added to.
- To add a Trigger, log into the app
- Select a plan
- Tap the Triggers icon
- Add a Trigger to any of your savings and investment plans.
- You’ll save or invest the next time your favourite football or basketball team or player scores.
You can currently set a Trigger on any of your plans for when a specific team or player scores.
Setup Triggers
Nest
Nest is a special investment account to help parents co-manage and invest in an account for their child to secure their future. Parents or guardians can invest in the account periodically, ensuring that it grows over time. When their children turn 18, the Nest Account is transferred the account to them, providing them with a smooth sailing into adulthood.
This will help them follow and afford their dreams, no matter what they are.
Gifts
Gifts by Cowrywise is a brand new way to show love to the people who matter. Typical gifts are great, but investment gifts are better. With Gifts, you can send an investment or savings plan to the people you care about—your romantic partner, sibling, best friend, work buddy, or even that neighbor who’s always got your back. It’s the Gift that keeps on growing, long after conventional gifts have withered away.
Give someone an investment gift that will keep generating returns over time. This way, they thank you today and thank you in the future.
Halal
We built the Halal feature to provide Muslims with a seamless way to build wealth according to their faith. Muslims can make their entire Cowrywise account Halal-compliant. This means that no interest will accrue on their savings, and they will only be exposed to Halal-compliant investments.
To turn on Halal on your account:
- Log in
- Tap on profile
- Click Behaviour
- Toggle the Halal button
Sprout for Businesses
Sprout is a central platform built to enable business owners to invest their surplus funds and earn returns. By employing a technology-first approach, we grant business owners hassle-free access to a transparent and flexible investment process for their business.
If you are a business owner, founder, or finance manager, then Sprout by Cowrywise is for you. Don’t leave your cash in the bank, getting meager returns. Invest in Sprout instead, and get better returns. Entrepreneurs and business owners can invest with as little as N100,000.
At Cowrywise, it doesn’t matter if you are an entrepreneur, a university student, or a 9-5er. Whatever your preferred lifestyle choices are or how you choose to save or invest (start with N1,000 weekly or N1 Million monthly), you should have the freedom to save or invest in a way that fits your lifestyle.
No matter who you are, there is an investment product for you.
Happy Investing!
