How to Convert Points to Cash on Piggyvest

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Piggyvest rewards its users with points for maintaining or rather having a saving habit. I called it a saving habit because the more you are consistent in saving, investing, and using the app, the more you’ll be rewarded with points, which can later be converted to cash.

The good news is that there is no minimum amount you can convert, immediately you want to cash out your points, just follow the steps on the app to easily complete the process or rather keep reading to learn more.

In today’s article, we will share with you how to earn points fast and convert them to money, I mean real money. So, in case you don’t have an account with Piggyvest then you’re missing out on this amazing opportunity that not just rewards you, but compels you to save more.

What are Piggy Points?

Piggyvest rolled out the program to insensitive users to save more money using some features on its platform. As I write this post, the platform has about 5 to 6 amazing features with excellent services, and each of those features has its own characteristics and case studies.

However, Piggy Points is for users who save with Piggybank or Target Savings using either Autosave or Quicksave, and the accumulation of points starts from N2000. In this case, you’ll need to save N2000 and above to get rewarded with 1 point. In addition, you can only earn points on the Target Savings feature if the duration of the target is above 90 days.

The more you save money and invest in opportunities, the more points you will earn and this is how it’s being calculated:

1 point = N10

When you earned 1 point, that’s equivalent to N10, but what if you earned 10 points, that’s N100 right? I know that might sound too small, but little by little will add up to become something bigger over time.

It’s an interesting way to compel you to save more while also earning at the same time. If you think it’s too small you can also invite people to use the app and get rewarded heavily.

So, that’s how Piggy Points works. You’re being insensitive to save more and maintain your savings, goals, target, and objectives, without having to worry about money or breaking your contributions.

How to Convert Piggy Points to Cash

To start converting your points to cash simply follow these steps to complete the process:

  • Step 1: Log in to your account
  • Step 2: Once you are on the homepage/dashboard that looks something like the image below, click on Account.

  • Step 3: Click on Piggy Points after your account name and account number.

  • Step 4: It will bring you to the Piggy Points page. Here, you’ll see the available balance and a button that says Convert Points click on it to proceed.

Step 5: Finally, you’ll land on the final page where you can convert your points to cash. Follow the instructions:

  1. Input the number of points to convert
  2. Enter your password
  3. Click on Convert Points To Cash.

And that’s all, you’ve just converted the points to cash. In case of next time you can follow the same process to achieve your objectives. Now, let us see how you can earn points fast.

How to Earn More Points Fast on Piggyvest

To earn points fast, there are two ways involved.

If you’re using the target savings, there are two options involved, but make sure you set the goal tenure to the bearest minimum. For example, set up a low duration that is achievable in a matter of weeks.

In addition to that, you can create two or more targets at the same time. This is actually my way but you can give it a shot if you have the money. If not, stick to the first option.

Another way to fast-track your points accumulation is using the Piggybank. Although I haven’t tried this yet, you can combine both features at once to increase your points.

The two features are the only ways to earn points on Piggyvest and as a smart person, you should know how to improve your savings culture to maximize your earnings potential. Remember, more savings equals more money.


Frequently Asked Questions (FAQs)

How much are 2 Points on Piggyvest?

Before you earned 2 points, you must have saved up to N5,000 using any of Target Savings or Piggybank. 2 is equivalent to N20.

How much are 10 Points on Piggyvest?

When you save N2000, you get 1 points which is equivalent to N10. So, before you earn 10 points you must have saved close to N20,000 and above. 10 points is equivalent to N100 which is a decent amount for building a saving habit.

How much are Piggy Points worth?

Here is a total breakdown of Piggy Points and how it’s being calculated:

N2,000 – N4,999 = 1 points
N5,000 – N9,999 = 2 points
N10,000 – N49,999 = 10 points
N50,000 – N99,999 = 25 points
N100,000 – and above = 55 points

What can I use my Piggy Points for?

You can convert your points to cash at any given time without restrictions. There is no minimum of points you can convert, once you’re ready, just follow the instructions I’ve highlighted above to convert your points to cash.

When you convert to cash, the money will be withdrawn to your Flex wallet.

Are Piggy Points available for all features?

No, earning points is only possible with Piggybank and Target Savings. Learn more about target savings and how to set a target goal including possible tips to achieving the goal without breaking your savings.

Piggy points are only available for the aforementioned features, but it’s just a matter of time before the app start allowing points for other features. Nevertheless, you can learn how to use the available ones as they have better interest rates.

For example, Target Savings has an interest rate of 9% per annum while Flex Dollar and Flex Naira have 7% and 8% respectively. Piggy Bank’s interest rate, on the other hand, is 10%.

Here’s an overview of Piggyvest interest rates for all features:

Piggy Bank 10% per annum
Flex Naira 8% per annum
SafeLock 13% per annum
Target Savings 9% per annum
Flex Dollar 7% per annum
Investify 25% per annum

Is Piggyvest safe?

The correct answer to that is a capital yes. The platform is being managed by a female entrepreneur who have an extensive record in finance and entrepreneurship. Piggyvest is safe and regulated by the Nigerian authority, so be rest assured that your money, savings, and investment are in a safe place.

In addition, the platform is one of the biggest in West Africa, with over 1 million active users. I’ve known Piggyvest since 2018 while it was offering only savings to users. Since then I haven’t heard any negative reviews about them. If you’ve come across one, maybe you have pressed the wrong button.

Above all, Piggyvest is inssued by NDIC, licensed by the Central Bank of Nigeria, and registered as Piggytech Cooperative Multipurpose Society Limited with a registration number.


That’s A Wrap!

Finally, don’t just think about the points, work towards improving your savings daily and the money will overall come. The points are a way to teach you the good habits of saving money.

I hope you’ve learned something from this article, especially how piggy points work. If you still have questions don’t hesitate to ask me through the comment section. In addition, don’t forget to subscribe to this blog for topics related to personal finance, savings, credit building, and investment.

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