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Fintech startup celebrates over 11,000 active users within first year of operations.
SavingsBox, a rapidly growing fintech company launched in January 2024, has announced a significant increase in its fixed-deposit investment interest rate to 25% per annum. The move comes as the company celebrates surpassing 11,000 active users within its first year of operations.
Speaking on the development, the Chief Operating Officer at SavingsBox, explained that “the revised interest rate reflects our response to exchange rate fluctuations and economic realities in the country. We’re committed to ensuring our users enjoy competitive returns on their investments despite challenging market conditions.”
The Abuja-based fintech has built its reputation on transparency and accessibility, maintaining a physical headquarters in the heart of the FCT. This strategic decision has helped build trust with customers seeking both innovative digital solutions and traditional face-to-face interactions.
SavingsBox’s product includes several innovative savings options that have resonated with Nigerian consumers. “Our standout “Jolly Plan” has gained popularity for helping users save systematically for end-of-year celebrations, effectively reducing the financial strain typically associated with festive periods. By enabling monthly contributions specifically earmarked for December celebrations, we’ve helped thousands of families enjoy festivities without the usual financial stress” noted Ngozichukwu.
Beyond investments, SavingsBox’s product portfolio also includes Autobox, Target Box, and Lockbox savings plans, which offer users competitive interest rates. Specifically, Autobox now offers up to 16% per annum, Target Box up to 14% per annum, and Lockbox up to 20% per annum.
For more information about SavingsBox and its offerings, interested individuals can visit the company’s office in Abuja or download the SavingsBox mobile application available on both Appstore and Google playstore.