Cowrywise Investment App Review (2025): Smart Savings and Investment in Nigeria Made Easy
In a country where inflation is constantly eating into our earnings and traditional banks offer little to no interest on savings, many Nigerians are turning to fintech platforms to grow their money. One such platform is Cowrywise—an investment and savings app that’s gradually becoming a household name for smart money management in Nigeria.
Whether you’re a student trying to save ₦1,000 weekly or a young professional looking to invest in mutual funds without stress, Cowrywise offers simple tools to help you build wealth with discipline.
This guide offers a detailed Cowrywise review, covering how it works, key features, interest rates, investment options, safety, pros and cons, and whether it’s worth your time and money in 2025.
What is Cowrywise?
Cowrywise is a Nigerian fintech company that allows users to save and invest money seamlessly through a secure and easy-to-use mobile app and website. The company was founded in 2017 with the goal of democratizing access to investment opportunities that were previously only available to the wealthy or corporate clients.
Instead of walking into a bank and filling endless paperwork to open a fixed deposit, Cowrywise gives you access to a wide range of mutual funds, savings plans, and investment options, right from your phone.
How Does Cowrywise Work?
The Cowrywise app is designed to help users build savings discipline and grow their money over time. It combines technology with finance to provide a digital experience that’s simple yet powerful.
You can:
Create custom savings plans
Automate deposits from your bank account
Invest in verified mutual funds
Track your returns in real time
No minimum balance. No paperwork. Just a few clicks and you’re set.
Is Cowrywise Safe and Legit?
Yes, Cowrywise is 100% safe, regulated, and legitimate.
The platform partners with Meristem Trustees, which is licensed by the Securities and Exchange Commission (SEC) of Nigeria to manage investor funds. This means your money is protected by law and professionally managed.
Cowrywise also uses:
Bank-level security (256-bit encryption)
Two-factor authentication (2FA)
Secure partnerships with fund managers
So you can rest easy knowing your savings and investments are secure.
Key Features of the Cowrywise App
Let’s explore some of the core features that make Cowrywise an excellent financial companion in Nigeria.
1. Automated Savings
Cowrywise lets you automate savings on a daily, weekly, or monthly basis. You can set a savings goal and the app deducts the amount from your bank account automatically.
Use Case:
Saving ₦2,000 every Friday for 6 months toward rent or school fees.
Interest Rate:
Up to 8% per annum on savings plans.
2. Mutual Funds Investment
This is the feature that separates Cowrywise from most other savings apps. You can invest in over 20 mutual funds from top Nigerian fund managers like:
Meristem Wealth
ARM
United Capital
Lotus Halal Fund (for Muslims)
Stanbic IBTC Asset Management
See Download FFS Shortlisted Candidates 2024
Investment Categories:
Equity Funds
Fixed Income
Balanced Funds
Ethical (Halal) Funds
Dollar Funds
ROI:
5% – 25% annually, depending on the fund and market performance.
3. Halal Savings and Investment
Cowrywise offers Shariah-compliant investment options for Muslims who want to grow their wealth without interest (riba). This includes both savings plans and Halal mutual funds.
4. Circles (Group Savings)
You can create or join a savings circle with friends or family. Everyone contributes a certain amount toward a shared financial goal.
Example:
Saving ₦50,000 each for a group trip or family project.
5. Emergency Plan
Set aside money that’s accessible instantly in case of emergencies. It helps build a cushion without touching your main savings.
6. Stash Wallet
A flexible wallet to hold your idle funds before assigning them to a savings plan or investment. You can move money from your stash to anywhere else within the app instantly.
Cowrywise vs Traditional Banks
Feature Cowrywise Traditional Banks
Interest Rate Up to 15–25% (investments) 1–2% (savings)
Minimum Balance ₦100 ₦1,000+
Account Opening Online, fast Offline, slow
Investment Options 20+ mutual funds Limited
Financial Discipline Automated savings plans Manual deposits
Clearly, Cowrywise gives you better returns, more flexibility, and a modern user experience.
How to Get Started with Cowrywise (Step-by-Step)
Step 1: Download the App
Available on:
Google Play Store
Apple App Store
Step 2: Sign Up
Use your phone number, email, and verify with your BVN (for security).
Step 3: Create Your First Plan
Choose a savings or investment plan and set your target.
Step 4: Fund Your Wallet
Connect your bank card or account and fund your Cowrywise wallet.
Step 5: Track and Grow
Use the dashboard to monitor savings growth or investment returns.
Interest Rates and Investment Returns
Cowrywise doesn’t have fixed returns like traditional banks. Returns depend on market performance and the type of investment fund you choose.
Fund Type Expected Return (%)
Fixed Income Fund 7% – 12%
Equity Fund 15% – 25%
Balanced Fund 10% – 18%
Halal Fund 6% – 10%
Dollar Fund 4% – 9% (in USD)
Returns are paid monthly or quarterly, and you can reinvest or withdraw at will.
Pros and Cons of Cowrywise
Pros:
High return on savings and investments
Easy to use interface
Diverse fund options (including Halal)
Group saving (Circles)
Zero maintenance fees
Transparency (real-time tracking)
Cons:
Requires BVN (some users may be uncomfortable)
No physical office for walk-in support
Investments are not guaranteed (market risk applies)
Who Should Use Cowrywise?
Cowrywise is perfect for:
Students who want to save allowances
Salary earners who want to invest monthly
Freelancers and business owners
Parents planning for their children’s education
Religious users seeking halal investments
Anyone who wants to stop spending carelessly
Real Testimonials from Nigerian Users
“Cowrywise helped me save ₦400k in 7 months without even thinking about it. The automation is a game changer.” – Uche, Abuja
“I started investing with just ₦5,000. Today, I’ve made over ₦60,000 profit in mutual funds. Thank you, Cowrywise!” – Amina, Kaduna
“It’s the only app I trust with my savings. No hidden charges, and I love the halal options.” – Abdulrahman, Kano
FAQs About Cowrywise
Is Cowrywise better than PiggyVest?
Both are good. Cowrywise focuses more on mutual fund investments, while PiggyVest has more savings options like SafeLock. Choose based on your goal.
Can I lose my money on Cowrywise?
Your savings are secure, but investments carry market risk like any real investment. However, Cowrywise only lists vetted, low-risk funds.
What’s the minimum amount to invest?
You can start saving or investing with as little as ₦100.
Does Cowrywise charge fees?
No. There are no setup or maintenance fees, and the app is free to use.
Final Thoughts: Is Cowrywise Worth It in 2025?
If you’re looking to escape the low interest rates of traditional banks, build financial discipline, and access real investment opportunities, then Cowrywise is one of the best apps in Nigeria for that purpose.
It’s simple, secure, and designed for every Nigerian who wants to grow their money the smart way. With features like automated savings, mutual fund investments, and group circles, you can truly take control of your finances and build wealth over time.