PiggyBank, Nigerian online savings platform has unveiled a new set of updates to its system to make it better for users. The new updates include a new Piggy Flex Account, new interest rates, and conversion of Piggypoints to cash.
Piggy Flex Account is a sub-account where all the interests you users earn on the PiggyBank platform will be paid, as well as funds from your SafeLock (only if it was safe-locked for a minimum of 3 months).
The Piggy Flex account is available by default to all its users. It can be accessed anytime with no charge and can be transferred from one user’s flex account to another user’s flex account (Piggylink 2.0).
SafeLock is a PiggyBank feature that allows you to keep an amount of money aside for a fixed period without any access to it until after a certain period of time. Typical to a normal fixed account except that you can customize the modalities for the account. With PiggyBank Flex, once your SafeLock savings matures, the money is transferred into that account instead of your normal savings account.
PiggyBank now allows users to convert their PiggyPoints to cash and paid into their flex accounts which can be accessed without any charge. Piggypoints are points earned by users when they save or refer other users.
The Piggy Flex account feature is currently available on the website but would be released on the app with an update soon. PiggyBank also promises exciting new features for users in the coming weeks.