The growth of the fintech space in Nigeria has kicked off a new era of financial inclusivity. This era has been marked by several benefits and advantages that customers find harder to access banks.
In recent times, the fintech space has seen some notable players making financial activities more seamless for customers. These platforms – which include the like of Piggvest, Cowrywise, and Kolopay – offer profitable savings & investment options as their major selling point.
Read more about App of the week
Founded in 2019, CashBox, a digital savings platform by CashBox Global Services Limited, is the latest player to come on board. Sydney Aigbogun founded the app to promote a savings culture and financial inclusivity among Nigerians.
Meet the App
Cashbox was designed with functionality and language in mind for users. The app has a pidgin option to enable users from all works of life access its features.
Speaking on the team’s effort to provide flexible saving options for users, Sydney said,
“Also, we have a very low savings bar for our users. They can save as low as N100 daily. So, no matter how high or low your earning capacity is, you can still imbibe the savings culture with CashBox. You are never too broke to save!”
The app also auto-assigns a Providus Bank account number to each user. In this way, users can transfer money they intend to save to the designated account from any account they choose.
Sign up to the Connect Nigeria daily newsletter
Cashbox offers 5 options for saving money to users. They include:
- Instant: This allows you to save money on the go using your card or via transfer. You can save as low as N100 and as much as you can.
- Vault: This feature allows you to lock your cash for 90 days and earn higher returns at the end of the period.
- Regular: This feature helps to control your spending by allowing you only four withdrawal days across the year. Withdrawing on any other day apart from the free days will incur a percentage charge.
- Target: This feature lets you save towards a goal. For instance, you can set a target to save to pay your rent or buy a car.
- Clique: This feature allows you to collaborate with friends and loved ones to save. This encourages accountability.
Getting The App
Click one of the links below to download the app depending on the kind of device (android or iOS) you use.
Featured Image Source: CashBox – Facebook
Got a suggestion? Contact us: editor at connectnigeria dot com