BBNaija: PiggyVest, FairMoney Duel Over Best Interest Rate Offer for Ilebaye's N120m
- PiggyVest has wooed Ilebaye to invest half of her grand prize for N67 million after a year
- FairMoney, on the other hand, claims the same investment would yield N72 million with them
- The offers have since generated mixed reactions from Nigerians on social media
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Nigeria's digital saving and investment bank, PiggyVest, has offered 12.5% interest on N60 million, half of the BBNaija grand prize won by Ilebaye.
Legit.ng reported that Ilebaye emerged as the winner with 30.08% of the vote, followed by Mercy Eke, CEEC, and others.
Source: UGC
Juicy offers for Ilebaye
In an attempt to convince the BBNaija star, the fintech platform, in a post via its X page, said the amount would yield 67.5 million by the end of a year at a maturity date of October 1, 2024.
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But in response to the post, FairMoney Microfinance Bank told Illebaye not to "Pick the wrong call."
In its breakdown, FairMoney said the N60 million would, in turn, generate N72 million at a 23% interest rate per annum.
It, however, added that the take-home was inclusive of a 10% withholding tax deduction.
It stated:
“Tell the "Gen Z baddie" to call us fr. Her very first partnership is waiting for her!”
How Nigerians are reacting
@Sliimzy12 noted,
"7 m? Increase the interest to 15m I will talk to Baye that is if she agrees self, unaa interest too low beg."
@Nonso_opinion said,
"The interest is okay. If it was higher, I would've doubted the ability to pay the interest."
@richtosho said,
"Save in USD instead i promise it’s better"
@demithacreator comment,
"First, with current state of naira, not too advisable. 2nd, what type of investments exactly does piggyvest use in generating returns cos 10%+ gauranteed sounds like a whole lot."
@hendrix_victor2 stated,
"With how naira is moving it’s a very bad investment"
@Biodun_OG said
"Value of the money go don turn 25m by October 2024"
@isoaniekan noted,
"Sporty bet will offer better"
Legit.ng had earlier examined areas the BBNiaja star can invest her money.
Cowrywise, PiggyVest, Compass and seven other top investment apps in Nigeria
In an earlier report, Legit.ng examined top investment apps in Nigeria. The report showed while saving money is commendable, enhancing wealth through investments is an even more advantageous approach.
Source: Legit.ng
