Piggvest is a Nigerian savings and investment platform that provides users with a secure and convenient way to save and grow their money. One of its key features is the Piggvest Safelock, a secure and easy-to-use tool that allows users to lock their funds away for a set period of time.
The Piggvest Safelock feature is designed to help users meet their savings goals by preventing them from making early withdrawals. This helps users stay focused on their savings goals and achieve their financial goals more easily.
In this article, we will take a detailed look at how to use the Piggyvest Safelock feature.
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Steps on how to use Piggyvest Safelock feature
Below is a step-by-step guide on how to use the Safelock feature on Piggyvest
Step 1: Sign up for a Piggyvest account
To use the Piggyvest Safelock feature, you will need to have a Piggyvest account. If you do not already have an account, you can sign up for one through the Piggyvest website or mobile app. The sign-up process is quick and straightforward, and you will need to provide some basic personal information, including your name, email address, and phone number.
Step 2: Fund your Piggyvest account
Once you have created your Piggyvest account, you will need to fund it. This makes it easy for you to easily create a savings plan and choose the funded Piggyvest account as a source of funds. You can do this by making a transfer from your bank account to your Piggyvest account. Piggyvest supports multiple banks in Nigeria, making it easy to transfer funds quickly and easily.
Also, you can decide to fund your savings plan directly from your bank using your debit card.
Step 3: Activate the Piggyvest Safelock feature
Log in to your Piggyvest account, click the “Savings” tab, and then click the “Safelock” button to use the Safelock feature.
On the Safelock page, you will see a section for “Create a Safelock”. Choose the lock-in period from the drop-down menu.
Enter the amount you want to lock away. You can lock away your funds for a minimum of 10 days and a maximum of 2 years.
If you want, you can create a title for the Safelock. After that, set when you want the money to be released into your Piggyvest account for withdrawal.
Lastly, set how you want to fund the Safelock and then click on “Preview Safelock”.
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Step 4: Confirm the transaction
On the confirmation page, where you can review the details of the transaction, if everything looks good, click the “Create Safelock” button to complete the transaction.
Step 5: Access your locked-away funds
Your funds will now be locked away for the specified period and cannot be accessed until the lock-in period expires. However, you can view the status of your Safelock and see how much time is left on the lock-in period by logging into your Piggyvest account. When the lock-in period expires, your funds will be automatically released and available for use.
In conclusion, the Safelock feature of Piggyvest is a useful and safe way for users to save money and reach their savings goals. By locking away their funds for a set period of time, users can prevent themselves from making early withdrawals and stay focused on their savings goals. Whether you’re saving to start a small business, save for a big purchase, or simply grow your money over time, the Piggyvest Safelock is a great option.