Piggyvest investment -Safelocks

SAFELOCK
What is SafeLock?
Safelock is our investment product that allows you to earn up to 13% per annum paid upfront.

This acts as your sub account which allows you to transfer funds from your Piggybank balance for at least 90 days and above without having any access until maturity.

The SafeLock feature is one step further in curbing the temptation to touch money that you have put aside as your savings.

How much interest do I get on my SafeLock savings?
The interest you get on your SafeLock is 13% per annum prorated according to the duration you set. Minimum of 90 days.

PS: the minimum amount you can SafeLock is N1000.

Can I have more than one SafeLock?
Yes, you can have more than one SafeLock; and you can give them different names (purposes) too.

E.g. You can have a SafeLock for your Fees, Wedding; Birthday; Vacation etc.

Is the SafeLock different from the normal savings plan?
Yes, your SafeLock is different from your normal savings plan. After initiating a SafeLock for a particular amount of money, your savings plan continues as normal.

It is completely under your control. You set the pace, duration and everything else concerning your SafeLock.

Can I add more funds to my SafeLock?
Yes, you can. Simply select the particular SafeLock you want to add, enter the amount you want to add and then click 'add funds'.

PS: You don't earn additional interest on funds added to an existing SafeLock.

How do I get my SafeLock paid back when time is up?
If you SafeLocked for more than 3 months, funds will automatically be sent to your PiggyFlex account on the exact date of maturity and will be available for withdrawal instantly for FREE.


However, if the duration is less than 3 months, funds will be automatically paid back into your Piggybank account on the exact date of maturity which is bound by the quarterly withdrawal date (You can also set your own convenient date for withdrawal).
Can I SafeLock directly from my Bank Account?
No, you can't.

You can only SafeLock from your Core Savings. You can use the quicksave option to add funds manually to your core savings and then consciously SafeLock according to your preference.
Read also: Piggyvest Withdrawals