Expert pick: 10 savings apps to safeguard your N1 million in 2025

As we draw closer to the end of 2025, the conversation around personal finance has shifted from merely earning money to aggressively protecting it. 

In an economic environment marked by inflation and currency volatility, allowing a significant sum like N1 million to sit idle in a low-interest bank account is a silent path to financial erosion. The modern Nigerian investor needs more than a bank; they need a fortified financial ecosystem.

Fortunately, a thriving ecosystem of fintech applications has emerged, offering tools that convert passive savings into active wealth-building. These platforms allow individuals to easily access local high-yield savings, SEC-regulated mutual funds, and global dollar-denominated assets. 

This list, carefully curated through personal experience, conversations with everyday Nigerian users with app ratings and reviews on accredited app stores, represents our top picks for creating a balanced and resilient portfolio. 

Here is a breakdown of our top 10 fintech apps, explaining how they help safeguard and grow your funds, with a simple illustration of the potential benefit on a N1 million principal.

PiggyVest

PiggyVest is reckoned as a gateway for building financial discipline. It is a secure online savings platform that makes saving possible by combining discipline plus flexibility to help you grow your savings.

The app thrives in its structured savings feature called the SafeLock. It excels at forced savings and fixed-term locking, which is vital for capital preservation. 

When you commit your N1 million to SafeLock, the funds are held securely for a set period, eliminating the temptation to spend. This enforced saving habit is rewarded with up to 22% per annum (p.a.) and could yield up to N220,000 in interest, often paid upfront.

However, for an automated Piggybank daily, weekly, or monthly savings, you will get up to 18% interest.

Cowrywise

Cowrywise is the gold standard for easy and regulated fund management. It is a platform that helps Nigerians save and invest money regularly. It also opens the door to a large marketplace of licensed Mutual Funds managed by asset managers. 

Investing N1 million could see a return in the range of 17.35% p.a, potentially yielding up to N200,000, which is a secure, professionally-managed investment. For fixed savings, users could earn up to 15% annual returns by locking their funds for 3, 6, 9, or 12 months as of April 2025.

By investing your N1 million in Money market funds or balanced funds, you achieve instant diversification and professional management, which significantly reduces concentration risk.  

Risevest

Risevest specialises in providing a much-needed hedge against currency devaluation. It works like a personal investment manager and adviser that lives on your smartphone, helping you invest in dollar-denominated assets like the US stocks, US rental properties and global fixed income assets, all in dollars. 

Here, your N1 million is converted to dollars and invested globally, effectively protecting your capital from the Naira’s fluctuation and offering stable returns in a harder currency. It offers annual returns of approximately 14% for stocks, 15% for real estate, and 10% for fixed income.

FairMoney

FairMoney, primarily known for lending, has developed robust and reliable savings products, making it a comprehensive digital finance tool. It offers both flexible and fixed savings options called Fairlock, which are regulated by the CBN and insured by NDIC. 

The annual returns on locked funds for a fixed period yield returns between 17% to 28%, depending on how long you can hold off. While for the daily savings, it’s a daily interest. An investment of N1 million could generate up to N170,000 to N280,000 in guaranteed returns, making it a contender in the high-yield savings space.

Renmoney

Renmoney’s savings products are known for their high yield and the assurance that comes with being a fully licensed institution. It specialises in offering fixed deposit products. 

The RenVault Fixed Savings is one of the highest-paying digital fixed deposit options available, providing a predictable and secure return on a conservative portion of your N1 million. 

This platform allows you to maximise your Naira income with minimal market risk, offering up to 28% p.a. Locking N1 million could yield a highly competitive N280,000 in guaranteed interest over a year, making it ideal for maximising short-term fixed income.

Bamboo

For the investor keen on direct exposure to global blue-chip companies, Bamboo is the go-to application. It grants Nigerian users access to buy fractional shares of stocks and Exchange-Traded Funds (ETFs) on U.S. exchanges. 

Investing a portion of your N1 million in globally stable companies (like Apple or Microsoft) provides a direct growth component and another powerful dollar-denominated hedge. The investment app also allows you to begin trading with zero paperwork, requiring only your contact details and National Identification Number (NIN).

Stock market returns are variable, but a successful allocation of N1 million could see an average annual growth of up to 8% on yearly returns in USD and 21.4% annual returns in Niara.

Trove

Trove offers a wide sweep of investment options across global and African markets, enabling ultimate diversification. The stock investment app combines access to U.S., Chinese, and Nigerian stocks, as well as bonds, all on a single, easy-to-use platform. 

This feature allows you to spread your N1 million across multiple regions and asset classes. Beyond trading, Trove also features a Naira savings option yielding up to 20% p.a. Utilising this Naira savings feature could yield up to N200,000 annually and 5.5% on US dollar savings.

Chaka

Chaka, a subsidiary of Risevest, is a professionally regulated investment platform that prioritises local and global trading. As an SEC-licensed brokerage platform, it offers direct access to both the Nigerian Exchange and international stock markets. 

This makes it the ideal choice for investors who want control over picking specific local and foreign stocks. The platform ensures your N1 million is invested transparently with proper regulatory backing. 

Returns are based on individual trading performance and dividends, and the core benefit is the ability to potentially generate high returns from well-researched stock choices, backed by a strong operational and regulatory structure.

Kuda

Kuda operates as a full-service digital bank, and its fixed savings feature is essential for accessible fixed income and liquidity. It is a low-fee avenue for securing the most liquid portion of your N1 million while still earning a decent return. 

The platform offers up to 12% p.a. on fixed savings. Stashing N1 million here could yield up to N120,000 in a year, with the added convenience of an integrated digital banking platform that simplifies transfers and daily financial management.

Ladda by Money Africa

Ladda is a comprehensive wealth management app built with a strong emphasis on financial literacy and goal-based investing. It offers savings plans and a marketplace for mutual funds and stocks. 

This fintech platform encourages users to align their investment goals with their personal financial knowledge. It offers savings options such as regular, savetogether, one-off and emergency savings which could be in Niara and Dollars. 

A one-off savings plan can offer up to 20% p.a., while the Presto savings option pays a 10% interest immediately you save. Locking N1 million here for 12 months could yield N200,000 in interest after 12 months or N100,000 at the beginning of the savings term.